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 2 years ago
What formula do I use for this question?
Carlee purchased a motorcycle for $9,941. She made a down payment of $3,795. She applied for a fouryear installment loan with an interest rate of 13.2%. What is the total cost of the motorcycle after four years?
All I really need help with is setting up the equation.
 2 years ago
What formula do I use for this question? Carlee purchased a motorcycle for $9,941. She made a down payment of $3,795. She applied for a fouryear installment loan with an interest rate of 13.2%. What is the total cost of the motorcycle after four years? All I really need help with is setting up the equation.

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mathteacher1729
 2 years ago
Best ResponseYou've already chosen the best response.1The formula (with explanation) can be found here: http://easycalculation.com/mortgage/autoloanemi.php

AGummiBear55
 2 years ago
Best ResponseYou've already chosen the best response.0That didn't work...

AGummiBear55
 2 years ago
Best ResponseYou've already chosen the best response.0Okay, nevermind! I got it!
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