Follow the steps above and find c, the total of the payments, and the monthly payment. Choose the right answers.
Tom Slick buys a set of tires for his car. The price, including tax, is $950.00. Tom finances the tires over 12 months after making a $50 down payment. The true annual interest rate is 18%. What are his monthly payments (principal plus interest)?
To the nearest penny, c = $.
Total of payments = amount financed + c = $.
Total of payments ÷ number of payments = monthly payment = $.
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total of payment ÷ number of payment=monthly payment=$
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