Steven purchases a car for $25,000. He makes a down payment of 15%. What amount does he finance?
1 answer:
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Answer:
$13.68
Step-by-step explanation:
Assuming they rent for 1 year, the cost is broken down as follows:
Annual renting cost = 22% of 722.98 =
Usage charge = 3.2% of 159.06 =
Thus,
Total annual charge = Annual renting cost + Usage charge = 159.06 + 5.09 =164.15
Monthly rental charge would be 164.15 divided by 12 (12 months in 1 year):
dollars