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Help with Financial Word Problem 1A

Algebra
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Assume the car can be purchased for 0% down for 60 months (in lieu of rebate).

A car with a sticker price of $42,600 with factory and dealer rebates of $5,100
Find the monthly payment if financed for 60 months at 0% APR.
Nov 20th, 2014

After the dealer rebates, the car costs 42,600 - 5,100 = 37,500

Since there is 0% interest being charged, the monthly payments will be simply

37,500/60 = $625


Nov 20th, 2014

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