Question

Alex made a $4000 down payment on a car. The total cost of the car was $11000. He made 40 equal monthly payments to pay the car in full. How much did Alex pay per month? Define a variable, write an equation, and solve.​

Answer 1

Answer: Alex Paid $175 for 40 months

Explanation:

$4000 = y-int or b

$11000 = y

40 months = x

Slope - intercept form : Y=mx+b

We are solving for m which is the slope (How much Alex Paid per month)

11000=m(40)+4000

11000=40m+4000

7000=40m

7000/40

m=175