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Mon 18 Jul, 2005 04:17 pm
Jennifer bought a brand new sports car. The price of the car was $14,900 including sport wheels, an AM/FM CD stereo, and automatic transmission. The dealer gave her a $1,250 instant rebate on the price and 0% interest for 60 months. Jennifer made a down payment of $750. What would be Jennifer's monthly payments if she takes 60 months to pay the remaining balance?
Jennifer got a deal, but any car with an automatic transmission is not IMO a sports car.
Take the sticker price and subtract off the rebate and the down payment. What is left is the initial balance, since there is no interest the running balance is the initial balance minus the product of the monthly payments and the number of months paid.
Jennifer has 60 months to reduce the running balance to zero.
Rap
great
Rap,
What does your username name mean---rap?
215.
unless the length of the loan exceeds 60 months
This problem, as well as several others you have posted, are pre-Algebra. I have trouble believing that you are asking for help in Trig one moment and pre-Algebra the next. Are you trying these problems yourself before posting them? I love helping people when they honestly have a problem they can't solve, but if you are posting all of your review questions without giving them an honest effort, I think you are abusing the board.
hey
Engineer posted:
"This problem, as well as several others you have posted, are pre-Algebra. I have trouble believing that you are asking for help in Trig one moment and pre-Algebra the next. Are you trying these problems yourself before posting them? I love helping people when they honestly have a problem they can't solve, but if you are posting all of your review questions without giving them an honest effort, I think you are abusing the board."
See my reply to this statement.
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