Yaboithomasboiiii Yaboithomasboiiii

24-08-2022
Mathematics

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You inherit $5000 from your long lost uncle, Seymore Butz. You find a nice Honda Accord for $16000. Using your money as a down payment calculate the following if you finance the remaining amount at 4% interest rate for 5 years:

1. What is the amount you are financing after you apply your down payment (* hint subtract $5000 from price of car)?

2. What is the interest rate as a decimal?

3. What is the simple interest of the car loan?

4. What is the total amount of car?

5. What is you monthly down payment?

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