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A new heating and aip constitioner will cost the Benguin fomily $4122,theymake a down payment of 20 percent and finance the remaining amount theyObtain an instaliment loan for 36 months at an APR of 9%A What is the down payment?B What is the amount of the loan?

Respuesta :

The cost of the new heating and air conditioner equipment is:

A = $4122

They make a down payment of 20%

A. The down payment is:

[tex]\begin{gathered} DP=\$4122\times\frac{20}{100} \\ \\ DP=\$824.40 \end{gathered}[/tex]

B The amount of the loan is the remaining amount after paying the down payment:

L = $4122 - $824.40

L = $3297.60

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