Question

Jim wants to purchase a used boat. The price is $8,000 cash or $1,200 down and 18 monthly payments of $429.00. Jim decided to finance the boat.

Calculate:

The amount he will finance. ______________

The total amount of this monthly payments. _______________

The total finance charge. __________________

Answer 1

monthly payments of $429, puts down $1200, total payments $8922 just save and buy the boat for $8000