Answer:
Carlos bought a new Mastercraft boat for $17,000. He made a $2,500 down payment on it. The bank's loan was for 60 months, and the finance charges totaled $4,900. What's his monthly payment?
A. $323.33
B. $232.33
C. $313.33
D. $332.33
Explanation:
1.- Carlos paid $ 2,500 of the $ 17,000 that Mastercraft costs and would be equal to: $ 17,000 - $ 2,500 = $ 14,500
2.- We have financial charges amounting to $ 4,900 to be added to the previous amount, and would be equal to: $ 14,500 + $ 4,900 = $ 19,400
3.- The bank loan is for 60 months, which would result in: $ 19,400 / 60 = $ 323.33
The answer is: A. $ 323.33