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sammy [17]
2 years ago
13

Adam wants to save up for a car when he gets his license in 4 years. His parentsagreed to help him out if he can contribute $3,0

00 to the car’s down payment. Calculate how much per year, month, week, and day he’ll need to save for it
English
1 answer:
Mars2501 [29]2 years ago
4 0

The amount that Adam needs to save per year, month, week, and day to meet up with the required contribution of $3,000 in down payment 4 years are as follows:

Period           Expected Savings  

Year                    $750.00

Month                   $62.50

Week                  $14.423

Day                      $2.055

<h3>What is a down payment?</h3>

A down payment is an initial amount that a purchaser of an expensive item pays as part of the mortgage terms.

It is an upfront payment made to reduce the amount of loan granted to the buyer.

<h3>Data and Calculations:</h3>

Contribution for down-payment = $3,000

Period of saving = 4 years

Period           Expected Savings  

Year             $750 ($3,000/4 years)

Month           $62.50 ($3,000/48 months)

Week           $14.423 ($3,000/208 weeks)

Day              $2.055 ($3,000/1,460 days)

Learn more about savings at brainly.com/question/25787382

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