Flint purchased a boat for $10,815. He made a down payment of $1,175. He applied for a six-year installment loan with an interest rate of 9.4% in the amount of $9,640. What is the total cost of the boat after six years?

Question

anonymous · Answer

A) $12,649.68

 B) $13,824.68

C) $11,831.61

D) $10,546.16

anonymous · Answer

Flint purchased a boat for $10,815. 

He made a down payment of $1,175. 

He applied for a six-year installment loan with an interest rate of 9.4% in the amount of $9,640. 

What is the total cost of the boat after six years?

1175 + 9640(1.094)^6

anonymous · Answer

The options are

 $12,649.68

 $13,824.68

 $11,831.61

 $10,546.16

anonymous · Answer

I also believed it was $17,701... but it's not an option

anonymous · Answer

hmm...

anonymous · Answer

I got 5,044.94

anonymous · Answer

still not an option -_-