question archive Karolyn takes out an installment loan to finance the purchase of a violin costing $14,750

Karolyn takes out an installment loan to finance the purchase of a violin costing $14,750

Subject:FinancePrice:3.87 Bought7

Karolyn takes out an installment loan to finance the purchase of a violin costing $14,750. Her loan requires 10.625% down payment and equal monthly payments of $355 for 48 months. Calculate the total deferred payment price Select one:

a. $22,360.33 

b. $15,960.67

c. $21,256.62

d. $18,607.19

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