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Mathematics, 06.05.2020 07:45 Treezy11

Mr. Adam decides he wants to buy a new car. He buys a car for $45,670. He pays $10,000 immediately (this is the down payment). The rest of the money he owes will have to be financed at an annual percentage rate (APR) of 3.5%. He has 5 years to pay off the amount he owes on the car.

A) What is the amount of money that Mr. adam still owes on the car?

B) What will be the total amount of interest he will have to pay for the loan?

C) How many monthly payments will he have to make?

D) What will be Mr. adam´s monthly payment for the car?

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