mattjd3 mattjd3

18-09-2017
Mathematics

contestada

mr.thomas wants to buy a boat. he must make 548 monthly payments to pay back the amount he borrowed, plus interest. his monthly payment is $161.85. what other information is necessary to determine the amount of money mr.thomas borrowed from the bank

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Joleybear Joleybear

20-09-2017

We need to know how much interest will be paid during those 548 payments of 161.85. The total of all 548 payments is $88693.80 minus the interest would be the initial amount borrowed. :)

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