reamskelsey1
Answered

At Westonci.ca, we connect you with the answers you need, thanks to our active and informed community. Get detailed and accurate answers to your questions from a community of experts on our comprehensive Q&A platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

To pay for a $23,700 motorcycle, Carmen made a down payment of $3900 and took out a loan for the rest. On the loan, she paid monthly payments of $438.27 for 4 years.

(a) What was the total amount Carmen ended up paying for the motorcycle (including the down payment and monthly payments)?
-Would the answer equal out $36,692.4.

(b) How much interest did Carmen pay on the loan?
-$6,496.2

just wondering if I'm correct

Sagot :

TheUnknownScientist

Answer:

a.)

Carmen paid monthly payments of $438.27 for 4 years.

i.e.,

1 year = 12 months

4 year = 12 × 4 = 48 months

So,

438.27 × 48 = $21,036.96

Now, the total amount including down payment is,

$21,036.96 + $3900 = $24,936.96

Thus, The total amount Carmen ended up paying for the motorcycle (including the down payment and monthly payments) is $24,936.96.

 

b.)

Interest did Carmen pay on the loan,

$24,936.96 - $23,700 = $1236.96

Thus, The answer is $1236.96.

 

-TheUnknownScientist 72

Step-by-step explanation:

a.) = 24,936.96

b.) = 1,236.96

hope it's helpful

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.