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Luden [163]
3 years ago
7

Maria is buying a car for $18,510. She will finance $13,000 of it with a 3-year loan at 2.8% APR. What will her monthly auto pay

ment be?
Mathematics
1 answer:
Eva8 [605]3 years ago
5 0

<u>Answer-</u>

<em>Maria's monthly payment will be </em><em>$376.91</em><em> </em>

<u>Solution-</u>

Maria is buying a car worth of $18,510, but she will finance only $13,000 of it with a 3-year loan at 2.8% APR.

We know that,

\text{PV of annuity}=P[\dfrac{1-(1+r)^{-n}}{r}]

Here,

\text{PV of annuity=13000},\\\\\text{P=??},\\\\\text{r = 2.8\%\ annually}=\frac{2.8}{12}\text{\%\ monthly}\\\\\text{n=3 years=36 months}

Putting  the values,

\Rightarrow 13000=P[\dfrac{1-(1+\frac{2.8}{1200})^{-36}}{\frac{2.8}{1200}}]

\Rightarrow 13000=P\times 34.4909

\Rightarrow P=\dfrac{13000}{34.4909}

\Rightarrow P=376.91

Therefore, her monthly payment will be $376.91

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First, we need to find out how many houses that Hannah received money from. We can do this by dividing the total amount of money she received by the amount she received per house.

780 / 5 = 156

Hannah received money from 156 houses.
To find the amount of houses she did NOT collect money from, we just need to subtract the amount of houses that she DID receive money from away from the total amount of houses in her neighborhood.

278 - 156 = 122

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Answer:

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