Answer:
$5952
Step-by-step explanation:
The principal of $4800 will become after 24 months at an interest of 12% APR,
[tex]4800(1 + \frac{2 \times 12}{100}) = 5952[/tex] dollars.
Now, the monthly payment is $135.57 for 24 months.
So, the payment by installment is $(135.57 × 24) = $3253.68.
Therefore, the down payment was $(5952 - 3253.68) = $2698.32.
Therefore, the total paid for the motorcycle including the down payment was $5952. (Answer)
