An auto stereo dealer sells a stereo system for $600.00 down and monthly payments of $30.00 for the next 3 years. If the interest rate is 1.25% per month on the unpaid balance, find
a.) the cost of the stereo system;
b.) the total amount of interest paid.
Please show formula used. And the list of steps used to find the solution. Thanks.
An auto stereo dealer sells a stereo system for $600.00
No comments:
Post a Comment