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- Doug Black bought a jet ski with a 6% add-on interest installment loan from his credit union. The purchase price was $1,950. The credit union required a 15% down payment and equal monthly payments for 48 months. What are Doug's monthly payments (in $)? (Round your answer to the nearest cent.) $Tuition of $1219 will be due when the spring term begins in 3 months. What amount should a student deposit today, at 6.47%, to have enough to pay the tuition? The student should deposit $ (Simplify your answer. Round to the nearest dollar as needed.)You have decided to take a passive approach to fitness and order the 'Ab-Cruncher' from the shopping network. The Ab-Cruncher can be purchased for four easy monthly payments of $19.95 starting in one month. If interest is charged at 112 = 12%, find the cost of financing.
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