Question

Marisa bought a car for $9,632. She paid $2,000 down. She will pay the remainder

in 24 monthly payments. How much will she pay each month?
Explain your answer.

Answer 1

Answer: $318/mo

Explanation:

First, we get the remainder, which is the difference between $9, 632 and $2,000. That gives us $7, 632.

Then, since we know she will pay in 24 months, we assume she pays the same amount each month and divide $7, 632 by 24 = $318/mo