4. Mike wants to buy a new Dodge Charger. He is able to negotiate a price of $21,500 for the color and options he wanted. He can
secure a 48 month car loan at 6.8% if he can make a down payment of 20% of the price. a. How much are his car payments? b. At the end of 20 months, Mike gets a bonus from work, and he decides to pay off his car loan. How much does he owe after 20 months?
1 answer:
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Answer:
belongs to the line
. Please see attachment below to know the graph of the line.
Step-by-step explanation:
From Analytical Geometry we know that a line is represented by this formula:
Where:
- Independent variable, dimensionless.
- Dependent variable, dimensionless.
- Slope, dimensionless.
- y-Intercept, dimensionless.
If we know that ,
and
, then we clear slope and solve the resulting expression:
Then, we conclude that point belongs to the line
, whose graph is presented below.
