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MMLU-Pro / 485 / An automobile dealer wishes to sell one of his used cars, having a case price of…

Problem

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question

An automobile dealer wishes to sell one of his used cars, having a case price of $1260, on the installment plan. The plan requires no down payment, but a service charge of 6% per year is charged on the unpaid balance. In addition, a charge of $20 is made to cover legal fees. If the car is to be paid off in 18 monthly payments, how much should each monthly payment be?
Plain-text mathematical notation (without MathML)
An automobile dealer wishes to sell one of his used cars, having a case price of $1260, on the installment plan. The plan requires no down payment, but a service charge of 6% per year is charged on the unpaid balance. In addition, a charge of $20 is made to cover legal fees. If the car is to be paid off in 18 monthly payments, how much should each monthly payment be?
Original LaTeX notation
An automobile dealer wishes to sell one of his used cars, having a case price of $1260, on the installment plan. The plan requires no down payment, but a service charge of 6% per year is charged on the unpaid balance. In addition, a charge of $20 is made to cover legal fees. If the car is to be paid off in 18 monthly payments, how much should each monthly payment be?

category

business

options

  1. $1339.85
  2. $76.50
  3. $70
  4. $77.77
  5. $74.44
  6. $65.00
  7. $69.50
  8. $80.22
  9. $59.85
  10. $82.95

src

stemez-Business

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