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Maurinko [17]
3 years ago
12

Peter decided to buy a new car. He made a $2,160 down payment and then took a 48-month loan. The total amount for the car, plus

interest on the loan, was $16,560. How much did Peter have to pay each month?
Mathematics
2 answers:
Serga [27]3 years ago
4 0
16560-2160=14400
14400/48=$300/mo
☺☺☺☺
White raven [17]3 years ago
4 0

Answer:

$ 300

Step-by-step explanation:

Given,

The downpayment of the car = $ 2,160,

Total value of car = $16,560,

Thus, the total payment of the loan = 16560 - 2160

= $ 14,400

Number of periods = 48 months,

Hence, the payment in each month = \frac{\text{Total payment of loan}}{\text{number of months}}

=\frac{14400}{48}

= $ 300

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