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Question 2 (6 points) You are a salesperson for a local marine boat sales business. A customer is interested in a boat with the following
Question 2 (6 points) You are a salesperson for a local marine boat sales business. A customer is interested in a boat with the following advertisement: Bass Classic- Sales price: $29,000, $379 per month with $6,000 down for 120 months The possible purchaser has the following questions Box 1: What is the APR of the loan (use the formula)? Express as xx.xx% Box 2: What is the total deferred payment of the boat? Express as Sxx,xxX.xX Box 3: If the boat is paid off after 7 years, what would be the payoff? Express as Sxxxxxx
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