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lesya692 [45]
3 years ago
11

The cost to repair a car after a collision was $2,700. The automobile insurance policy paid the entire bill except for a $675 de

ductible, which the driver paid. What percent of the cost did he pay?
Mathematics
1 answer:
dalvyx [7]3 years ago
7 0

Answer:

The driver paid 25% of total repair cost.

Step-by-step explanation:

Cost to repair a car = $2700

Insurance company paid entire bill except for a $675 deductible.

i.e Driver paid the deductible amount = $675

Percentage of cost he did pay = ( Deductible amount/ total cost )  × 100

                                                   = (675/2700) × 100

                                                   = 675 * 100 / 2700

                                                   = 25 %

Hence the driver paid 25% of total repair cost.

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Using it's formula, it is found that their monthly payments for the mortgage loan will be of $515.45.

<h3>What is the monthly payment formula?</h3>

It is given by:

A = P\frac{\frac{r}{12}\left(1 + \frac{r}{12}\right)^n}{\left(1 + \frac{r}{12}\right)^n - 1}

In which:

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In this problem, we have that the parameters are given as follows:

P = 80000, r = 0.06, n = 25 x 12 = 300.

Hence:

r/12 = 0.06/12 = 0.005.

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A = P\frac{\frac{r}{12}\left(1 + \frac{r}{12}\right)^n}{\left(1 + \frac{r}{12}\right)^n - 1}

A = 80000\frac{0.005(1.005)^{300}}{(1.005)^{300} - 1} = 515.45

More can be learned about the monthly payments formula at brainly.com/question/22846480

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