Fred purchased a boat for $18,000. He paid 10% down and the balance in equal monthly payments over five years at 18% compounded monthly. What does Fred pay each month?
A) $405.29
B) $457.08
C) $411.37
D) $450.33
E) $344.20
Let's find answer to your question.
Fred purchased a boat for $18,000. He paid 10% down and the balance in equal monthly payments over five years at 18% compounded monthly. What does Fred pay each month?
A) $405.29
B) $457.08
C) $411.37
D) $450.33
E) $344.20