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26 September, 12:41

Amount Financed (m) = $1,860 Number of Payments per year (y) = 12 Number of Payments (n) = 36 Total Interest (c) = $350.00

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  1. 26 September, 15:24
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    Hi there

    The formula to find I (ARP)

    I = (2yc) / (m * (1+n)

    I = (2*12*350) : (1,860 * (1+36))

    I=0.1221*100

    I=12.21%

    Good luck!
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