Math

Samantha is going to buy a new Dodge Saturn for $20800. After a 5% down-payment the dealership will offer a loan for the remaining value of the car at 3.25% APR for 4 years.

Round all answers to the nearest penny. Use Web Loan Calculator to find some of the answers here.

How much will Samantha have to have for a down-payment?

$

How much money is Samantha going to borrow for the car?

$

How much will Samantha have to pay per month for 4 years?

$
per month

How much will Samantha actually pay for the car?

Don't forget the Down Payment.

$

How much of this last answer is the interest payed on this loan?

$

  1. 👍 0
  2. 👎 0
  3. 👁 86
  1. a. D.P. = 0.05 * 20,800 = $1,040.

    b. Po = 20,800 - 1040 = $19,760 = Amt. borrowed.

    c. P = Po*r*t/(1-(1+r)^-t).

    r = 0.0325/12 = 0.0027/mo.
    t = 4yrs. * 12mo./yr. = 48 mo.

    P = (19,760*0.0027*48)/(1-1.0027^-48) = $21,034.03.

    21,034.03/48mo. = $438.21/mo.

    d. $21,034.03 + 1040 = $22074.03 = Total cost.

    e. I = P-Po.

    1. 👍 0
    2. 👎 0
    posted by Henry
  2. Okay I understand the first two but not the last couple ones from c-e. Im not coming up with the same thing.

    1. 👍 0
    2. 👎 0
    posted by Tyreice

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    Samantha is going to buy a new Dodge Saturn for $20800. After a 5% down-payment the dealership will offer a loan for the remaining value of the car at 3.25% APR for 4 years. Round all answers to the nearest penny. Use Web Loan

    asked by Tyreice on March 30, 2017
  2. Math

    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

    asked by Tyreice on March 24, 2017
  3. Science

    Which of these statements suggests that the orbital period of Venus is shorter than that of Saturn? A) Saturn is much larger in size than Venus. B) Saturn is a gaseous planet; Venus is not. C) Venus is closer to the Sun than

    asked by ღMs. Marieღ on May 1, 2019
  4. mila

    Determine the time it takes for a satellite to orbit the Saturn in a circular "near-Saturn" orbit. A "near-Saturn" orbit is at a height above the surface of the Saturn that is very small compared to the radius of the Saturn.

    asked by perat on July 13, 2013
  5. physic

    Determine the time it takes for a satellite to orbit the Saturn in a circular "near-Saturn" orbit. A "near-Saturn" orbit is at a height above the surface of the Saturn that is very small compared to the radius of the Saturn.

    asked by jasika on July 13, 2013
  6. physic

    A spacecraft of mass = 4673 kg with a speed 5.0 10 m/s approaches Saturn which is moving in the opposite direction with a speed 9.6 10 m/s. After interacting gravitationally with Saturn, the spacecraft swings around Saturn and

    asked by Anonymous on October 26, 2013
  7. Arithmetic/Math

    While traveling in Mexico, Samantha found some beautiful ceramic tiles. The tiles are squares,6.5 inches on each side. Samantha wants to buy enough tiles to cover the floor of her sun room. The sun room is also a square, 108

    asked by Kiyoshi Kasume(Help?) on January 10, 2011
  8. Physics Classical Mechanics

    A spacecraft of mass m1 = 2161 kg with a speed v1i=7.0 ×103 m/s approaches Saturn which is moving in the opposite direction with a speed vs=9.6×103 m/s. After interacting gravitationally with Saturn, the spacecraft swings around

    asked by Anonymous on October 28, 2013
  9. physics

    A spacecraft of mass m1 = 4673 kg with a speed v1i=5.0 ×103 m/s approaches Saturn which is moving in the opposite direction with a speed vs=9.6×103 m/s. After interacting gravitationally with Saturn, the spacecraft swings around

    asked by Anonymous on October 27, 2013
  10. Physics - centripetal acceleration

    What is the centripetal acceleration of a satellite orbiting Saturn at the location exactly on Saturn radius above the surface of Saturn

    asked by Farah on October 31, 2010

More Similar Questions