Question

Devine and Leah want to add a patio to their home. The estimated cost for the job is $5,800.00. They pay 35% down and finance the remaining amount at 14% interest for 36-months.

What is their down payment?

What is the amount financed

Answer 1

Downpayment : $2,030

Amount financed : $3,770

Step-by-step explanation:

The down payment is 35% of $5,800

Actual down payment

=35/100 x $5,800

=0.35 x $5,800

=$2,030

The amount financed is the difference between the estimated costs and down payment.

=$5,800 - $2,030

=$3,770