10x + 17 use PEMDAS (Parenthesis, Exponents, Multiplication, Division, Addition, Subtraction)
Monthly interest, i = APR/12 = 0.06/12 = 0.005
Monthly payment, A = $450
Period, n = 36 (months)
Future value of payment
= A((1+i)^n-1)/i
= 450((1.005^36-1)/0.005
= 17701.2472341
Future value of car
F = future value of payment + residual value
= 17701.2472341 + 20000
= 37701.2472341
Present value of car
= downpayment + present value of future payments
= 1500 + F/(1+i)^36
= 1500 + 37701.2472341/(1.005^36)
= 1500 + 31504.86
= 33004.86
3.44. The number of 4.3 isn’t multipled by a number greater than one, it becomes smaller
