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21 and 22 please PARI THREE (ten points each) 21. Johnny bought a motorcycle for $18,000. He made a 10% down payment and financed the
21 and 22 please
PARI THREE (ten points each) 21. Johnny bought a motorcycle for $18,000. He made a 10% down payment and financed the rest for five years at 8.4% interest. (a.) What is the amount financed? (b.) What is the monthly payment? (c.) He wants a car payment that is $100 less than the one above. Using the same loan terms, what priced motorcycle can he actually afford? 22. Moira bought a new car for $35,000. She made a down payment of 15% and financed the rest for four years at 7.2% interest. (a.) What is the amount financed? (b.) What is the monthly payment? (c.) She wants a monthly payment that is $200 less than the one above, what priced car can she actually afford Step by Step Solution
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