We know that we have to m<span>ake a down payment of $1500 and finance the rest of $20000 at a 1.9% interest rate, making equal monthly payments for 5 years. Our first step to solve this problem would be to convert 5 years into months.
1 year = 12 months
12 * 5 = 60 months
Therefore, in 5 years there are 60 months.
Now lets solve this problem step by step.
Subtract the down payment from $20,000
</span>$20000-$1500=$18500
Multiply the remaining number by the interest rate.
$18500 *1.9 = $35150
Divide 35150 by number of months in 5 years (60)
$35150 / 60 = $585
<span>Therefore, you have to pay $585 per month. </span>
Answer:
The answer is A
Step-by-step explanation:
4.53 - 4.06 = .47
.47 is 10.4% of 4.53
Answer:
6.6 inches
Step-by-step explanation:
The given above is an arithmetic sequence with first term equal to 3 and the common difference equal to 4. That is from 7 - 3 = 11 - 7 = 15 - 11. The nth term of an arithmetic sequence is given by the equation,
an = a1 + (n - 1) x d
Substituting the given,
an = 3 + 4(n - 1)
thus, the answer is the fourth choice.
