Jerry buys a $2,700 motorcycle on a deferred payment plan. there is no down payment and no interest foreighteen months. jerry must make a minimum payment of $75 a month. to avoid a retroactive apr of 21%, hemust pay the balance in full before the 18 months has passed. if he pays $75 each month, how much should hepay the last month to avoid the interest charges?

In last month, Jerry should pay $1425

Step-by-step explanation:

Cash price for the motorcycle = $2700

Minimum Payment that is to be made each month = $75

Time after which interest will be charged = 18 months

So, to find the last payment which is to be made at 18th month , we need to find the total amount paid till 17 months which is = 17 × Monthly Payment

= 17 × 75 = $1275

So, the remaining amount which is to be paid in 18th month to avoid interest charges = 2700 - 1275 = $1425

the final amount you will pay is $68.04.

the tip is determined by the pre-tax amount, so we calculate the tip based on the original bill, not after we've added sales tax.

to find the tip:

we can divide 54.00 by 100 to get 1% of 54. then we multiply that by 18.

54 / 100 = .54

.54 x 18 = 9.72

tip = 9.72$

to find the tax:

we can divide 54.00 by 100 to get 1% of 54. then we can multiply that by 8 to get 8%.

54 / 100 = .54

.54 x 8 = 4.32

tax= 4.32

now we can add the tip and tax to the bill to get our total.

54 + 9.72 + 4.32 = 68.04

total: $68.04

step-by-step explanation: