We visited the store and got a quote for carpet and installation of $$3,400,$ plus $7\%$ tax. If we were to finance the full amount, plus tax, for $36$ months what would that mean? So this is a practice exercise for you and here are the questions to consider

What is the total amount you will pay if you do not pay the loan within the term ans meet all the conditions of the loan? First, you nedd to calculate the payment, so$,$ what is TVM variable: Present Value $($PV$)$ of the carpet $($purchased price plus tax$)?$