Vehicle A has a final sale price of $25,000 at 5% interest and financing up to 60 months and vehicle B has a final sale price of

Question

2 years ago

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Vehicle A has a final sale price of $25,000 at 5% interest and financing up to 60 months and vehicle B has a final sale price of

$29,000 at 4% interest and financing up to 60 months
how do I solve this and do I have enough information to answer the question and what step would take to solve the problem and how do I calculate the results

Mathematics

1 answer:

andrezito [222] · Answer 1 · 2023-06-09T06:54:39+03:00

The calculation of the interest based on the price given shows that vehicle B has a lower interest.

<h3>How to calculate the price?</h3>

From the information given, vehicle A has a final sale price of $25,000 at 5% interest and financing up to 60 months. The interest will be:

= (25000 × 5 × 5)/100

= $6250

Vehicle B has a final sale price of $29,000 at 4% interest and financing up to 60 months. The interest will be:

= (29000 × 4 × 5)/100

= $5800

Therefore, the calculation of the interest based on the price given shows that vehicle B has a lower interest.

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