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anygoal [31]
3 years ago
8

Rita just bought a car for 15,000. She paid 20% down and borrowed the remainder at an annual interest rate of 9.0%. The loan wil

l be repaid over four years with monthly payments of $298.62. How much is rita's down payment and how much did she borrow?
Mathematics
1 answer:
motikmotik3 years ago
3 0

Answer:

Rita's down payment is $3000 and she borrowed $12000.

Step-by-step explanation:

The cost of the car is $15000.

Given that she paid 20% down and borrowed the remainder.

So, Rita's down payment= 20% of $15000

=\frac{20}{100}\times 15000

= $3000

As she borrowed the remainder cost, so,

the borrowed amount = 15000-3000

= $12000

Hence, Rita's down payment is $3000 and she borrowed $12000.

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