Question

You want to buy a $28,000 car. You can make a 10% down payment, and will finance the balance with a 2% interest rate for 48 months (4 years). What will your monthly payments be?

Name: you want to buy a 28000 car you can make a 10 down payment and will finance the balance with a 2 interest rate for 48 months 4 years what will your monthly payments be
Uploaded: 2022-12-17T18:39:50-08:00
Duration: 2 min 34 s
Channel: Ivan Kochetkov
Description: you want to buy a 28000 car you can make a 10 down payment and will finance the balance with a 2 interest rate for 48 months 4 years what will your monthly payments be

          You want to buy a $28,000 car. You can make a 10% down payment, and will 
finance the balance with a 2% interest rate for 48 months (4 years). What will 
your monthly payments be?

Added by Maribelle C.

Algebra 1: Concepts and Skills

Ron Larson, Laurie Boswell, Holt… 1st Edition

Chapter 8

Instant Answer

Solved by Expert Ivan Kochetkov

12/17/2022

Step 1

The down payment is 10% of the car's price. So, you calculate 10% of $28,000. Down payment = 10% of $28,000 = 0.10 * $28,000 = $2,800. Show more…

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You want to buy a $28,000 car. You can make a 10% down payment, and will finance the balance with a 2% interest rate for 48 months (4 years). What will your monthly payments be?