reamskelsey1
Answered

At Westonci.ca, we provide clear, reliable answers to all your questions. Join our vibrant community and get the solutions you need. Discover a wealth of knowledge from professionals across various disciplines on our user-friendly Q&A platform. Get detailed and accurate answers to your questions from a dedicated 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 choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.