Question 28 • 26-27 Ignite Technical Math-Financial Math - MA2007
First add sales tax: $435 × 1.0851 = $472.02, the balance Brian financed. The monthly interest rate is 0.094 ÷ 12, and over 18 months the payment is about $28.22 per month using the fixed-payment loan formula. Multiplying by 18 gives a total of about $507.96, so the correct choice is $507.96.
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