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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?
Mathematics
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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