We know that we have to m<span>ake a down payment of $1500 and finance the rest of $20000 at a 1.9% interest rate, making equal monthly payments for 5 years. Our first step to solve this problem would be to convert 5 years into months.
1 year = 12 months
12 * 5 = 60 months
Therefore, in 5 years there are 60 months.
Now lets solve this problem step by step.
Subtract the down payment from $20,000
</span>$20000-$1500=$18500
Multiply the remaining number by the interest rate.
$18500 *1.9 = $35150
Divide 35150 by number of months in 5 years (60)
$35150 / 60 = $585
<span>Therefore, you have to pay $585 per month. </span>
Answer:
3.2
Step-by-step explanation:
11.5 - 5.1 = 6.4
6.4 ÷ 2 = 3.2
Cost of a sweatshirt = $32
Then
Cost of 14 sweatshirts = (32 * 14) dollars
= 448 dollars
Cost of a t-shirt = $14
Cost of 32 t-shirts = (32 * 14) dollars
= 448 dollars
So it can seen from the deduction that the cost of 14 sweatshirts and 32 t-shirts comes out to be same and equal to $448. I hope the answer and the procedure of doing this problem is clear to you. It is important to look at all the details given in the question and then start solving the problem.