Mike wants to buy a new Dodge Charger. He is able to negotiate a price of $21,500 for the
color and options he wanted. He can secure a 48 month car loan at 6.8% if he can make a
down payment of 20% of the price.
a. How much are his car payments?
b. At the end of 20 months, Mike gets a bonus from work, and he decides to pay off his car
loan. How much does he owe after 20 months?

Question

18-04-2017
Mathematics

contestada

Mike wants to buy a new Dodge Charger. He is able to negotiate a price of $21,500 for the
color and options he wanted. He can secure a 48 month car loan at 6.8% if he can make a
down payment of 20% of the price.
a. How much are his car payments?
b. At the end of 20 months, Mike gets a bonus from work, and he decides to pay off his car
loan. How much does he owe after 20 months?

Respuesta :

Otras preguntas

Multiple Choice For a test to be considered a "fair test," any scientist should be able to repeat the experiment with the same results. O True O False

giving brainiest :) thank you.

What is one thing that makes essential fatty acids so unique?.

Neal buys a board game. He pays for the board game and pays $1.54 in sales tax. The sales tax rate is 5.5%, What is the original price of the board game, before

Indicate whether the statement below is true or false. A store is offering a 15% discount. Tom wants to know how much he will have to pay after the discount. He

PLS ANSWER AS SOON AS POSSIBLE WITH STEP BY STEP EXPLANATION

what was a cause of the Great Depression in Europe? the factories reopened too soon after the Great War the United States Banks made more loans to the Europeans

Read the passage. Then answer the question. " Taking the Plunge" Question: What is the theme of " Taking the Plunge"? How does the theme emerge and develop over

On August 31 of the current year, Pine Corp. issued 100,000 shares of its $20 par value common stock for all of the net assets of SAP, Inc. The collection of as

Several factors determine the distribution of biomes on the planet. Which factor is considered most important ? A. Landforms B. organisms C. altitude D. prec

Аноним Аноним · Answer 1 · 2017-04-28T09:41:41+02:00

If we refer his car payments by month base on the 48-month car loan at 6.8%, his payment will be $1,462/month. And if we refer to the full cost of the car by using the 48-month loan it can cost $74,476. After 20 months mike decided to pay the remaining payments for his car. So if mike pays responsibly to his $1,462/month, it cost to $29,240. To get the remaining payment just subtract the total cost of the car to the 2o months he pays the loan. So, $74,476 - $29,240 = $45,236 this is the amount that he need to pay after 20 months.