formula 5 points\namaya purchased a scooter with nothing down and zero interest.\nthe purchase price of the…

formula 5 points\namaya purchased a scooter with nothing down and zero interest.\nthe purchase price of the scooter is $2,882.\nshe is required to make $60 monthly payments with the balance due at the end of 1 year.\nwhat will be the amount of the final payment?\nanswer

formula 5 points\namaya purchased a scooter with nothing down and zero interest.\nthe purchase price of the scooter is $2,882.\nshe is required to make $60 monthly payments with the balance due at the end of 1 year.\nwhat will be the amount of the final payment?\nanswer

Answer

Explanation:

Step1: Calculate total monthly payments

There are 12 months in a year. The monthly - payment is $60. So the total of monthly payments is $60\times12$. $60\times12 = 720$

Step2: Calculate the final payment

The purchase price of the scooter is $2882$. Subtract the total of monthly payments from the purchase price to get the final payment. $2882−720=2162$

Answer:

$2162$