Question

You are borrowing $4,285 to purchase a computer using a 36 month installment plan. Determine the annual percentage rate (APR) and the monthly payment given that the interest charge is $513.26. Round your answer to the nearest whole percent and to the nearest cent.

Answer 1

I NEED HELPP

Answer 2

Help is here

Answer 3

Is this consumer math?

Answer 4

YES IT IS

Answer 5

a.
8%; $134.27
c.
7%; $133.29
b.
8%; $150.36
d.
7%; $148.16

Answer 6

SWEET!!!

Answer 7

http://openstudy.com/study#/updates/5249e7a0e4b0e0b65597d863

Answer 8

Does that help???

Answer 9

i didnt see the answer of how to solve it

Answer 10

@samtraveler16 @e.mccormick

Answer 11

@satellite73

Answer 12

The basic compound interest formula:
\(F = P(1+r)^n\)
Where
F = Future Value
P = Present Value
r = interest rate
n = number of periods

There is another one that involves the number of periods per year and has time in there. Not sure which you need.

Check your references to make sure you have the right formula, then plug in what is given. Oh, and they gave you the Future Value, but not as one number. You have it as two.