Find the total installment cost and annual percentage rate

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A small business owner purchased an HP computer system for $14,000. After making a down payment of $2,000, he agreed to make payments of $500.00 per month for 24 months. Find (a) the total instalment cost (b) the annual percentage rate.

Reference no: EM13837254

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Find the total installment cost and annual percentage rate : A small business owner purchased an HP computer system for $14,000. After making a down payment of $2,000, he agreed to make payments of $500.00 per month for 24 months. Find (a) the total instalment cost (b) the annual percentage rate.

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