Question

Bought a used car for $7,500. He had $4600 and borrowed the rest from his parents. If it took

Answer 1

Answer: The monthly payment assuming that each month he paid the same amount is = 362.5 $

Step-by-step explanation:

Given data,

Johnny bought a used car for  $7,500

He had $4600 and borrowed the rest from his parents.

Johnny 8 months to pay back the money he borrowed

So, we can write ,

Let us assume,   x1 = $7,500  and  x2 = $4600

Based on the given conditions,

we use formula is :

                          x = ( x1 - x2 ) / pay back months

                          x = ( 7,500 - 4,600 ) / 8

we can subtract the values,

we can write,

                    x = 2900/8

                      x = 725/2

                      x = 362.5 $

Therefore,

The monthly payment assuming that each month he paid the same amount is = 362.5 $.

Learn more about event correlation here: brainly.com/question/14839698

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