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thisusernameistaken2
28.01.2020 •
Mathematics
Make a down payment of $1500 and finance the rest of $2 at 1.9% interest rate, making equal monthly payments for 5 years.
calculate the total interest you will pay over the term of the loan. show the computations that lead to your answer.
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Ответ:
20000-1500=18500
18500 times 1.9=35150
5 years=60 months
35150 divided by 60=585
$585 per month
Ответ:
1 year = 12 months
12 * 5 = 60 months
Therefore, in 5 years there are 60 months.
Now lets solve this problem step by step.
Subtract the down payment from $20,000
$20000-$1500=$18500
Multiply the remaining number by the interest rate.
$18500 *1.9 = $35150
Divide 35150 by number of months in 5 years (60)
$35150 / 60 = $585
Therefore, you have to pay $585 per month.
Ответ:
answer:
step-by-step explanation:
incomplete question.