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Jacob purchases camping equipment at a cost of $3,450 by taking out an 9% add-on installment loan. The loan requires a 10% down payment and equal monthly payments for 2 years. H…

Jacob purchases camping equipment at a cost of $3,450 by taking out an 9% add-on installment loan. The loan requires a 10% down payment and equal monthly payments for 2 years. H…
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4 votes
Jacob purchases camping equipment at a cost of $3,450 by taking out an 9% add-on installment loan. The loan requires a 10% down payment and equal monthly payments for 2 years. How much are Jacob's monthly payments?

asked
User Rudo
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8.9k points

1 Answer

4 votes

Answer: 310.50

Explanation:

When you multiply 3450 and 9% then you get 310.50

answered
User Greig
by
8.8k points
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