Calculate monthly payments


Justin buys motorcycle for $10,000. The dealer is charging him annual interest rate of 9.25% and is using the add-on method to calculate monthly payments. If he pays off the loan in 72 months, what are his monthly payments? If he makes a down payment of $2,900, how much will his monthly payments be? Do not round until the final answer. Then, round to the nearest cent.

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Mathematics: Calculate monthly payments
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