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URGENT PLEASE HELP! To purchase $13700.00 worth of machinery for her business, Rachel made a down payment of $1900.00 and took out a business loan
URGENT PLEASE HELP! To purchase $13700.00 worth of machinery for her business, Rachel made a down payment of $1900.00 and took out a business loan for the rest. After 3 years of paying monthly payments of $358.99, she finally paid off the loan. (a) What was the total amount Rachel ended up paying for the machinery (including the down payment and monthly payments)?
(b) How much interest did Rachel pay on the loan?
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