Mathematics, 03.07.2019 15:00 LearningZone
Katie cole purchased a mountain bike with an installment loan that has an apr of 14%. the mountain bike sells for $762. the store's financing requires a 15% down payment and 24 monthly payments. what is the finance charge? (wait until the end of your calculations to round your answer.)
Answers: 2
![\text{PV of annuity}=P[\frac{1-(1+r)^{-n}}{r}]](/tpl/images/0046/8002/5a9d3.png)
![\Rightarrow 647.7=P[\dfrac{1-(1+\frac{14}{1200})^{-24}}{\frac{14}{1200}}]](/tpl/images/0046/8002/be5c3.png)
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Katie cole purchased a mountain bike with an installment loan that has an apr of 14%. the mountain b...
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