Time remaining:
Help with Financial Word Problem 1A

label Algebra
account_circle Unassigned
schedule 0 Hours
account_balance_wallet $5

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

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Nov 20th, 2014
...
Nov 20th, 2014
Sep 20th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer