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Mike wants to purchase an $11,350 car with a loan from a credit union that requires a 20% down payment. what amount will Mike borrow from the credit union?
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Mike wants to purchase an $11,350 car with a loan from a credit union that requires a 20% down payment. what amount will Mike borrow from the credit union?

User Abhishekcghosh
by
8.1k points

1 Answer

4 votes
He will borrow 80% of the cost of the car.
80/100*11350= $ 9080
User Merline
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8.2k points
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