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The question in the image asks to determine Teagan's monthly payment for financing a refrigerator that costs $2500. The financing is done over 36 months at an APR (Annual Percentage Rate) of 12.5%.

We can solve this using the formula for monthly payments on an installment loan:

\[
M = \frac{P \times r \times (1 + r)^n}{(1 + r)^n - 1}
\]

Where:
- $ M $ is the monthly payment.
- $ P $ is the loan amount (principal), which is $2500.
- $ r $ is the monthly interest rate, calculated as the annual interest rate divided by 12. So, $ r = \frac{12.5\%}{12} = 0.125/12 $.
- $ n $ is the total number of payments (36 months).

Let me calculate the monthly payment for you.Teagan's monthly payment will be approximately **$83.63** when financing the refrigerator over 36 months at an APR of 12.5%.

Would you like further clarification or additional details?

Here are 5 related questions to explore this topic further:
1. How would the monthly payment change if the loan term were 48 months instead of 36?
2. What is the total amount paid after 36 months of financing?
3. How much interest is paid over the course of the loan?
4. How does changing the APR from 12.5% to 10% affect the monthly payment?
5. What is the impact of making extra payments toward the principal?

**Tip:** It's important to compare APR rates from different lenders to minimize the amount paid in interest over time.

Teagan wants to buy a new refrigerator. The refrigerator costs $2500. Teagan decides to finance the refrigerator for 36 months at an APR of 12.5%. Determine Teagan's monthly payment. Round your answer to the nearest cent, if necessary.

Learn how to calculate the monthly payment for a $2500 refrigerator financed over 36 months at an APR of 12.5%. This problem involves concepts in loan amortization and interest calculations, suitable for college-level finance or algebra courses.

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