Molly has a $2500 down payment saved for this purchase, and the dealer’s $1500 Cash Allowance will come straight off her total. How much loan does Molly need?

If dealer’s $1500 Cash Allowance will come straight off her total, the amount of loan he will need will be the difference between his down payment and the dealers cash allowance.

Mollys Loan = Down payment - Cash Allowance

Molly's loan =$2500-$1500

Molly's loan = $1,000

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abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2021-10-22T10:02:44+02:00

If Molly has a $2500 down payment saved for this purchase, and the dealer’s $1500 Cash Allowance will come straight off her total. How much loan does Molly need will be $1,000

Using this formula

Loan amount=Down payment Cash allowance

Where:

Down payment= $2,500

Cash Allowance = $1,500

Based on the above calculation she does not need a loan because if she paid $1,500 she will have $1,000 left with her.

Inconclusion if Molly has a $2500 down payment saved for this purchase, and the dealer’s $1500 Cash Allowance will come straight off her total. How much loan does Molly need will be $1,000

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