how to solve this problem

[yellow1122]

Maris is purchasing a new tractor for $24,000. he paid 15% as a downpayment, and financed the balance with a 36 month fixed installment loan with an APR of 12%. Find a) amount of downpayment
b) amount financed
c)table value
d) finance charge
e) total intrest paid
f0 monthly payment
table has 12% @ 36 months 19.57

 

[Denis]

Maris is purchasing a new tractor for $24,000. he paid 15% as a downpayment, and financed the balance with a 36 month fixed installment loan with an APR of 12%. Find
a) amount of downpayment
b) amount financed
c) table value
d) finance charge
e) total intrest paid
f) monthly payment
table has 12% @ 36 months 19.57

If you can't do a) and b), then it's no use doing the rest for you;
what is a) and b)?
And explain "table value"; 19.57 makes no sense.

 

[yellow1122]

a) is 3,600
b) is 20,400
On the table under 12% and 36 months is 19.57

 

[Denis]

a) is 3,600
b) is 20,400
On the table under 12% and 36 months is 19.57

Correct.
What table? The kitchen table :twisted:

Anyway, formula to calculate payment is:
P = Ai / (1 - x) where x = 1 / (1 + i)^n

P = Payment
A = Amount borrowed (20400)
i = interest rate per period (.12 / 12 = .01)
n = number of payments (36)