Question
You find a used jet ski on Craigslist for $600. You only have $20, but you really feel like you need the jet ski to
You find a used jet ski on Craigslist for $600. You only have $20, but you really feel like you need the jet ski to boost your confidence. a. The guy selling the jet ski says you can give him the $20 in your pocket and then pay him $3 a month for the next 25 years, and the personal watercraft is yours. Find the total amount you will pay for the jet ski. b. Consider this as a regular add-on loan like the kind we studied this semester. What is the interest rate on this loan? c. What is the APR of the loan? d. Is this a good deal? Explain in a sentence or two. There are many ways to answer this question.
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