The cash price of the car includes the amount of the loan plus the amount of the down payment
Cash price=the loan of the car+down payment
First find the amount of the loan by using the formula of the present value of an annuity ordinary which is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv the amount of the loan ?
PMT payment per month 355
R interest rate 0.071
K compounded monthly 12
N time 5years
Pv=355×((1−(1+0.071÷12)^(−12
×5))÷(0.071÷12))
=17,885.56
Cash price=17,885.56+2,500
=20,385.56....answer
Answer:
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Step-by-step explanation:
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Put it back into the equation,
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Answer:
your answer would be at 11 and 1
Step-by-step explanation:
The answer is 41
Because 90-49
