asked 42.4k views
1 vote
Identify the equation that could be used below and choose the correct answer for c, the total of the payments, and the monthly payment. Carl Carpenter buys a drill press. The price, including tax, is $675.00. He finances the drill press over 24 months after making a $50 down payment. The true annual interest rate is 14%. What are Carl's monthly payments (principal plus interest)?

A. amount of intrest to the nearest penny c= $
B. total of payments = amount financed + c=$
C. total of payments / number of payments = monthly payment= $

asked
User Kburgie
by
7.9k points

1 Answer

2 votes
C.
The total of the payments divided by the number of payments gives us the value of Carl's monthly payment.
answered
User David Perfors
by
7.6k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.