Answer:
Option A- 294.85
Step-by-step explanation:
Given : Andrea is buying a car for $21,450 she will finance $16,450 of it with a 5 year loan at 2.9% APR.
To find : The monthly auto payment.
Solution : From the table we get that monthly car loan payment per $1000 borrowed when interest rate is 2.9% on a 60 month loan is
Monthly car loan payment per $1000 borrowed is $17.924
Per $1000 the finance is
Monthly payment = Monthly car loan × Finance
Therefore, Option A is correct.
The Monthly payment is $294.85.
Answer:
No
Step-by-step explanation:
21 = 3p - 5
<u>Step 1</u> : Add 5 on both sides
21 + 5 = 3p
26 = 3p
3p = 26
<u>Step 2</u> : Divide 3 on both sides
p = 26/3
Hence, the solution of the given equation is 26/3, not 9.