Answer:
see details below
Step-by-step explanation:
The price of a boat that Arthur wants is $29,450. Arthur finances this by paying $6000 down and monthly payment of $792.22 for 36 months.
a. Determine the amount to be financed.15a. ___$23450____________
29450 - 6000 = 23450
b. Determine the installment price.b. ___$792,22______________
"monthly payment of $792.22"
c. Determine the finance charge.c. __$5069.92_______________
A = 792.22
n = 36
finance charge = total paid - amount to be financed
= 36*792.22 - 23450
= 5069.92
