Willie bought a fridge that cost $812. he paid $200 down He will pay the balance over 3 yrs in monthly payments at 13% interest based on this info answer the following questions. How much interest will Willie pay?

What will his monthy payment be?
in Algebra 2 Answers by Level 2 User (1.0k points)

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1 Answer

812-200=612$="prinsapal"=$ him pae interest on

13%, 3 yeers, monthly paements

paement=20.62$/month

total pae=742.35, so interest=130.35$

u hafta did intu "financial" math tu find the formula

& yu gotta hav sientifik kalkulater tu take powers & roots & komplex ops

13%=0.13, then gotta divide bi 12 tu get monthly interest...=0.01083333=reel rate

numpae=12*3=36

me kalk intermediat step: fakter3=[1/(1+reelrate)]^numpae

pae-fakter=reelrate/(1.0 -fakter3)

then monthly paement=$borro*pae-fakter
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