eric borrowed 5,000 to buy a used car. he agreed to make monthly payments of 175.00 for 36 months how much will how actually pay

Question

neonofarm [45]

1 year ago

13

eric borrowed 5,000 to buy a used car. he agreed to make monthly payments of 175.00 for 36 months how much will how actually pay

the bank

Mathematics

1 answer:

____ [38] · Answer 1 · 2023-10-22T11:50:11+03:00

If Eric agreed to make monthly payments of 175.00 for 36 months, the total amount of money he will pay the bank is 6,300.

Given that;

Amount of money borrowed = 5000
Monthly payment = 175.00
Number of month = 36
Total amount of money paid to the bank = ?

To determine the total amount of money that Eric will pay the back, we simply multiply his monthly payment and the number of months.

175.00 × 36

= 6,300

Hence, if Eric agreed to make monthly payments of 175.00 for 36 months, the total amount of money he will pay the bank is 6,300.

Learn more word problems here: brainly.com/question/14539651

#SPJ1