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katrin2010 [14]

3 years ago

5

You want to buy a $35,000 car. The company is offering a 3% interest rate for 36 months (3 years). What will your monthly paymen

ts be?

1 answer:

VikaD [51]3 years ago

6 0

$\bigstar\boxed{\large\bf\purple{\leadsto \$3150}}$

__________________________________________

$\large\sf{\underline{Given:}}$

➠ Principal = $ 35000
➠ Rate of interest = 3%
➠ Time = 3 yrs (36 months)

$\large\sf{\underline{Therefore:}}$

‎‎‎ ‎ ‎‎‎ ‎ ‎ $\sf{Simple\: interest = \left(\dfrac{P\times R\times T}{100}\right)}$

‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎ $\sf{\longrightarrow \left(\dfrac{35000\times 3\times 3}{100}\right)}$

‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎

‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎ $\sf{\longrightarrow \cancel{\dfrac{315000}{100}}}$

‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎

‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎ $\sf{\longrightarrow 3150}$

‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎

$\large\sf{\underline{Your\: monthly\: payments\:will\:be\:\$3150}}$ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎‎‎ ‎ ‎

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