tacy is going to buy a new Kia Saturn for $17900. After a 5% down-payment the dealership will offer a loan for the remaining value of the car at 2% APR for 5 years.
Round all answers to the nearest penny.
How much will Stacy have to have for a down-payment?
$
How much money is Stacy going to borrow for the car?
a. 0.05 * 17,900 = Down payment(D.P.).
b. Amt. = 17,900 - D.P. =
Bro my name is literally Kia lol
To find the down-payment, we need to calculate 5% of the total cost of the car.
Step 1: Convert the percentage to a decimal by dividing it by 100.
5% = 5/100 = 0.05
Step 2: Multiply the total cost of the car by the decimal form of the down-payment percentage.
Down-payment = 0.05 * $17900 = $895
Therefore, Stacy will need to have $895 for a down-payment.
To find the amount Stacy is going to borrow for the car, we need to subtract the down-payment from the total cost of the car.
Loan amount = Total cost of the car - Down-payment
Loan amount = $17900 - $895 = $17005
Therefore, Stacy is going to borrow $17005 for the car.