Does anybody know what the formula should be if you need to figure out what a down payment should be

[stuck burrow]

Anna is buying ​$12,000 worth of rare coins as an investment. The dealer is charging her an annual interest rate of 9.2​% and is using the​ add-on method to compute her monthly payments. If she wants to have monthly payments of ​$225​, how large should her down payment​ be?

[proven berry]

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[stuck burrow]

h

[coarse pike]

LadyDanbury
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[frozen glade]

"Add-on method"?

[snow imp]

@stuck burrow

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