Answer:
$75.22
$42
$5
Step-by-step explanation:
Tip: whenever y equals a number, the line is horizontal and the slope is 0. if the number equals x, the line will be vertical and there is no slope.
The answer is 22.5 so the reminder will be 1/2 or .5
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