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Holcomb Enterprises Financed a New $86,000 Computer System with an 8

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Holcomb Enterprises financed a new $86,000 computer system with an 8 3/4% add-on interest installment loan for 48 months. The loan required a 20% down payment.
A)What are the monthly payments?
B)What is the amount of loan payoff after the 36th payment?


Definitions:

Antihemorrhagic

A substance or treatment that prevents or stops bleeding.

Thrombocyte

Another term for platelets, which are small blood cells that play a critical role in blood clotting.

Lymphocyte

A type of white blood cell that is part of the immune system, involved in protecting the body against both infectious disease and foreign invaders.

Humoral Immunity

A component of the immune system that is mediated by antibodies produced by B cells.

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