If you buy a computer directly from the manufacturer for $2,519 and agree to repay it in 48 equal installments at 1.95% interest per month on the unpaid​ balance, how much are your monthly​payments? How much total interest will be​ paid? Your monthly payment is $? The total interest paid is $?

racmanovcf

racmanovcf

Answered question

2022-10-25

If you buy a computer directly from the manufacturer for $2,519 and agree to repay it in 48 equal installments at 1.95% interest per month on the unpaid​ balance, how much are your monthly​payments? How much total interest will be​ paid?
Your monthly payment is $?
The total interest paid is $?

Answer & Explanation

SoroAlcommai9

SoroAlcommai9

Beginner2022-10-26Added 13 answers

We have amount = $2519
P m t = 2519 × 0.0195 1 0.98087 48 = 49.1205 0.60431 = 81.2836 $
Total payment
48 × $ 81.2836 = 3901.61 = 3901.61 2519 = 1382.61 $

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