Jason obtains an installment loan of $12,000. His down payment is 25% and the APR is 9% for 36 months.

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asked Dec 11, 2023 220k views

1 Answer

Brki · Answer 1 · 2023-12-17T13:05:49+0000

Answer: $333

Step-by-step explanation: $12000. Percentage Down payment = 25%. Absolute down payment = 25/100=12000 = $3000. Amount of loan (p) = 12000-3000 = $9000

Jason obtains an installment loan of $12,000. His down payment is 25% and the APR is 9% for 36 months.

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