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Posted: April 20th, 2022
Kevin buys a motorcycle for $1
Question description
Kevin buys a motorcycle for $12000.00. The dealer is charging him an annual percentage rate of 10.75%. If he pays off the loan in 120 months, what are his monthly payments? What is the payment if he makes a $2600 down payment? I have attempted to solve this problem multiple times, and I am not even in the ballpark. Can someone demonstrate the steps to solve this problem?
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