Mathematics, 06.03.2020 23:17 dmoore222

You purchase a computer for $1999.99 plus 7% sales tax. The electronics store offers an installment loan that allows you to pay for the computer by making 12 equal monthly payments of $203.30. What is the cost of credit, in dollars, for this loan? Round your answer to the nearest cent.

Cost of credit = Total amount due - Loan proceeds

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