4 years=48 months
A new car costs 25,000, but she will get 13,000 for her used car as long as she takes good car of it. If she takes good care of her used car and gets 13,000 for it, she will only need to save 12,000 total. We can divide 12,000 by 48 to find out how much Courtney should save minimum each month to afford her new car. 12,000/48=250
You can check to see if this is correct by multiplying 48*250=12,000. Paying 250 for each month of the 48 months will equal the $12,000 that Courtney needs.
Courtney needs to save at least $250 per month to afford her new car in 4 years.
I hope this helps :)
Answer:
$614.62
Step-by-step explanation:
The monthly payment is calculated using the formula:
where:
- M= monthly payments
- P= the amount borrowed
- r= annual interest rate
- n=total number of monthly payments.
Given the amount borrowed is $7,000, r=9.75% and n=1*12=12 months, the monthly payments can be calculated as:
Hence, the monthly payments are $614.62
3/7= 0.428571
3/6= 0.5
3/5= 0.6
So 3/5 is the greatest of all of them.
I NEED MORE DETAILS AND THE PICTURE IS BLURRY