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​You've just bought a new flat screen TV for ​$3 comma 000 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 10​% compound…

​You've just bought a new flat screen TV for ​$3 comma 000 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 10​% compound…
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​You've just bought a new flat screen TV for ​$3 comma 000 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 10​% compounded monthly. If you take the financing and make monthly payments of ​$107​, how long will it take to pay the loan​ off? How much will you pay in interest over the life of the​ loan? (That​ is, what is the difference between the total of all your payments and the amount of your payments that went toward your principal of $ 3 comma 000​?)

asked
User Emre Akman
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7.6k points

1 Answer

5 votes

Step-by-step explanation:

may be that so that be the fisrt thing there

answered
User Adam Right
by
7.7k points
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