Question

To pay for a $21,700.00 car, Leila made a down payment of $3500.00 and took out a loan for the rest. On the loan, she paid monthly payments of $327.04 for 5 years. (a) What was the total amount Leila ended up paying for the car (including the down payment and monthly payments)? (b) How much interest did Leila pay on the loan?

Name: to pay for a 2170000 car leila made a down payment of 350000 and took out a loan for the rest on the loan she paid monthly payments of 32704 for 5 years a what was the total amount leila ended up payi
Uploaded: 2023-06-15T02:25:08-08:00
Duration: 2 min 24 s
Channel: Danielle Fairburn
Description: to pay for a 2170000 car leila made a down payment of 350000 and took out a loan for the rest on the loan she paid monthly payments of 32704 for 5 years a what was the total amount leila ended up payi

          To pay for a $21,700.00  car, Leila made a down payment of $3500.00  and took out a loan for the rest. On the loan, she paid monthly payments of $327.04  for 5  years.
(a)	What was the total amount Leila ended up paying for the car (including the down payment and monthly payments)?
 
(b)	How much interest did Leila pay on the loan?

Added by Brandy Y.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Danielle Fairburn

06/15/2023

Step 1

We can do this by subtracting the down payment from the total cost of the car: $21,700.00 - $3,500.00 = $18,200.00 Now, we need to find out how much Leila paid in total for the monthly payments. There are 12 months in a year, so over 5 years, there are 12 * 5 = Show more…

Show all steps

Thanks for your feedback!

To pay for a $21,700.00 car, Leila made a down payment of $3500.00 and took out a loan for the rest. On the loan, she paid monthly payments of $327.04 for 5 years. (a) What was the total amount Leila ended up paying for the car (including the down payment and monthly payments)? (b) How much interest did Leila pay on the loan?