1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
raketka [301]
3 years ago
5

URGENT!!!!!! URGENT!!!! WILL MARK AS BRAINLIEST!!!! Benjamin considers purchasing a car for $35,000. He has been approved for a

6-year loan for $30,000 with an interest rate of 5.25%. He also has the option to lease the car for $600 per month for 6 years with a $2,500 down payment. Using the loan amortization formula, how much money does Benjamin save over the 6 years if he purchases the car? Do not consider the future value of the car in your answer. Enter your answer as a dollar amount, such as: $4253
Mathematics
1 answer:
hram777 [196]3 years ago
7 0

Answer: $1250

Step-by-step explanation:

Given data:

Cost of car = $35,000

Down payment made = $2500

Interest rate = 5.25%

Duration of loan = 6 years

Loan Amount = $3000

Solution:

I = prt/100

where

I = interest

p = principal ($30,000)

r = 5.25%

t = 6

I = $30,000 * 5.25 * 6 /100

= $9450

interest payable on the loan in 6 years is $9450.

Rental

=$600 monthly * 6(12)

= $43,200

Amount made from renting the car is $43,200.

• Money saved by Benjamin in 6 years

= $43,200 – $32500 + $9450

= $43,200 – $41,950

= $1250

Benjamin would have saved $1250 in 6 years.

You might be interested in
Find the value of A<br> A: 18<br> B: 21<br> C: 20<br> D: 17
AnnZ [28]

These are vertical angles so they are equal so

6a +  11  = 2a + 83  

now solve for a

6 0
3 years ago
Read 2 more answers
Antonio rented a bike from Alberto's Bikes. It cost $11 plus $4 per hour. If Antonio paid
Nina [5.8K]

Answer:

5 hours

Step-by-step explanation:

31-11 = 20

20/4 = 5

6 0
3 years ago
Convert 9 cubic meters into cubic feet. Round your answer to the nearest whole number.
Aleksandr-060686 [28]
317.832

318

The exact answer is being written as a decimal. The rounded is answer will be 318. I hope this answers your question.
5 0
3 years ago
Read 2 more answers
6• 4^2 + (6-8) • 3 ?? HELP PLSZZZZZZZ
Sladkaya [172]

Answer:

90

Step-by-step explanation:

6x4^2+(-2)x3=

6x16-2x3=

96-6=

90

5 0
3 years ago
Read 2 more answers
a parabola contains the points (0,0),(-1,-2) and (1,6). what is the equation of the parabola in standard form?
tensa zangetsu [6.8K]

Let the equation be:

y = ax^2 + bx + c.

Then, substitue the three points into the equation.

First point: 0 = a0^2 + b0 + c.

So  c = 0.

Second point: -2 = a(-1)^2 + b(-1) + c.

So  a - b + c = -2.

Third point: 6 = a*1^2 + b*1 + c.

So  a + b + c = 6.

We know that c=0 already, so we substitute c=0 into the last two equations and we would get:

a - b = -2

a + b = 6

We add the two equations and we get:

2a = 4

a = 2

Then, we substitute a=2 into a-b=-2 and we get:

-b = -4

b = 4

Now we know a = 2, b = 4, and c = 0

Then, the equation of the parabola would be:

2x^2 + 4x

5 0
3 years ago
Other questions:
  • What is 2(W+5)+4W=4(3+W)
    12·1 answer
  • Please answer I will make you Brainliest if it's right
    7·2 answers
  • Convert 18.5 into centimeters
    5·1 answer
  • Mario has $14.35 left it as wallet.
    12·1 answer
  • Which expression is equivalent to 64 − 9x2?
    7·1 answer
  • A collector has 135 movie posters and 90 band posters. She wants to sell 36 movie posters but still have her poster collection m
    9·1 answer
  • What is the Mean Absolute Value?​
    13·2 answers
  • What is the missing angle measurement in the polygon shown below?
    12·2 answers
  • What is ur mom plus ur dad
    9·2 answers
  • 20 points and brainliest <br> I’m in quiz in need it asap <br> Number 4
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!