7. Rob wants to purchase a $5,000 drum set. The music store offers him a 2-year installment agreement requiring $800 down and monthly payments of $202.50. Rob has
a poor credit rating.
a. What is his interest on this installment agreement?
![7 Rob wants to purchase a 5000 drum set The music store offers him a 2year installment agreement requiring 800 down and monthly payments of 20250 Rob has a poor class=](https://us-static.z-dn.net/files/d34/7a23071c69e1b4d026d65590a4fbe4f7.png)