anonymous
  • anonymous
payments will be 244.22 per month for 8 years the interest rate is 7.35% what is the asking price?
Meta-math
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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anonymous
  • anonymous
payments will be 244.22 per month for 8 years the interest rate is 7.35% what is the asking price?
Meta-math
schrodinger
  • schrodinger
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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anonymous
  • anonymous
Here is a simplified version of your question. You pay $50/month for 3 months with 10% interest rate. Total Payment is $50*3 = $150. 3rd month \[50 = X3 \times 1.1\]\[X3 = 50/1.1 = 45.45\] 2nd month \[45.45+50 = 95.45 = X2\times1.1\]\[X2 = 95.45\div1.1=86.77\] 1st month \[86.77+50 = 136.77 = X1\]\[X1 (AskingPrice) = 136.77\] 136.77 is the asking price. There should be $13.23 of interest to make $150.00. 45.45*0.1 + 86.77*0.1 = 4.55+8.68 = $13.23 .

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