How do I do this problem? Eli made a down payment of $1,750 on a jet ski with a purchase price of $9,925. The balance was paid for using a five-year installment loan. If the interest rate on the loan is 11.4%, what is the total cost of the jet ski?

Question

anonymous · Answer

$57,687 not to sure

anonymous · Answer

That's defiantly not it. 'cause I have these options for an answer: 
$9,106.95
$10,762.80
$12,512.80
$13,066.80

anonymous · Answer

I just really need to know what formula to use for this problem... I'm so confused on which one to use.

anonymous · Answer

Did you ever get the answer?