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Mathematics 6 Online
OpenStudy (anonymous):

Ben is buying a new boat for $11,000. The dealer is charging him an annual interest rate of 9.2% and is using the add-on method to compute his monthly payments. A. If Ben pays off the boat in 48 months, what are his monthly payments? B. If he makes a down payment of $2,000, how much will this reduce his monthly payments? C. If he wants to have monthly payments of $200, how large should his down payment be? Can some please just do C or show me the formula that would really help me thanks!

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