Question 3 • LVA - Mathematical Modeling - Spring
At 25 monthly payments and 15% APR, the table gives $17.06 in interest per $100 financed. The $1,752 loan contains 17.52 groups of $100, so the total interest is 17.52 × $17.06 = $298.89. Add this to the amount financed and divide by 25: ($1,752 + $298.89) ÷ 25 = $82.04 per month. The correct choice is $82.04.
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