Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. you have saved 1500 for a down payment and the dea

you have saved 1500 for a down payment and the dealer has already included any...

50.1K

Verified Solution

Question

Basic Math

image

you have saved 1500 for a down payment and the dealer has already included any applicable fees including taxes in the advertised price You plan on taking 5 years to pay off the loan The table below shows the price and interest rate for each option Price Interest Rate 17 945 15 000 2020 Honda Fit LX 2018 Honda Fit LX For both the new and the pre owned Honda Fit LX options do the following 1 Compute the amount to be financed considering that you have saved 1500 for a down payment 1 9 6 9 2 Use the formula for a regular payment on a fixed installment loan to determine the monthly payment Round your answer to the nearest dollar 3 Determine the total amount paid when repaying the car loan 4 Determine the finance charge for each purchasing option This is the difference between the total amount paid on the loan and the amount financed 5 Complete the following table Price Interest Rate Down Payment Amount Financed Monthly Payment Total Amount Paid 2020 Honda Fit LX 17 945 1 9 2018 Honda Fit LX 15 000 6 9

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1. Describe the broad evolution of plants in the plant kingdom (in terms of phylogeny, reproduction,...

Advance Math
1.2K views

Let B be a finite commutative group without an element of order 2. Show the mapping...

Basic Math
1.2K views

area of the triangle The figure is not drawn to scale length of the unknown...

Basic Math
1.2K views

Which is the logarithmic form of 64 = 1296?log6 1296 = 4log 1296 = 4.6log...

Basic Math
1.2K views

ivalent to a b C

Basic Math
1.2K views

triangle shown to the right Question 2 8

Basic Math
1.2K views

A circle has the equation x + y = 9.(a) Find the center (h,k) and...

Calculus
1.2K views

Let f x be a continuous function for which we know f 1 1 f...

Algebra
1.2K views

Graph the image of kite ABCD after a dilation with a scale factor of 4...

Accounting
1.2K views

Case 16-8 Frozen Ballooning Out of Control LLC (BLOC or the Company) is a manufacturer...

Accounting
1.2K views

Alter's Home Center (AHC) sells renovation and remodeling products to both contractors and individual home...

Finance
1.2K views

Find the value of Caspian Sea Corp. assuming corporate taxes: ke=9.7% kd=5% It currently has...