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AGummiBear55
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 four-year 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.
The formula (with explanation) can be found here: http://easycalculation.com/mortgage/auto-loan-emi.php
That didn't work...
Okay, nevermind! I got it!