Question

Every month, Ms. Thomas pays her car loan through automatic payments (withdrawals) from her savings account. She pays the same amount on her car loan each month. At the end of the year, her savings account balance CHANGED BY -$2175 from payments made on her car loan. What is the change in Ms. Thomas’ savings account balance each month due to her car payment?

Answer 1

Answer: 1465.5

Step-by-step explanation:

Answer 2

The changes in Ms. Thomas’ savings account balance each month due to her car payment is $181.25.

What is the change in Ms. Thomas’ savings account balance each month due to her car payment?

At the end of the year, Ms. Thomas's savings account balance changed by: $2175

⇒ Change in month = Change in year / 12

⇒ Change in month = 2175 / 12

⇒ Change in month = $ 181.25

What is the security for a vehicle loan?

A secured car loan as a form of financing is one in which the borrower has to place collateral or security with the financial institution while taking the car loan.

Learn more about car payments here: brainly.com/question/26011426

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