Question

You have just received your first paycheck of $4,400 from your new job. You visit the dealership with your friend in search of a car. You see a a used car for $4000. The manager tell you that he will give you a discount of 50 percent. When you get home, your parents tell you that they will pay 50 % of the remaining balance.

You are excited when your friend tell you that you will get the car for "free". You will not have to pay any of your own money for the car?

Answer the questions below by showing your work for each question. Answer must be in full sentence.

a) Is your friend correct in assuming that you will not have to pay any of your own money for the car? Why or why not. Proof it.

b) How much if any of your own money will you have to pay for the car?

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Answer 1

Answer: see below...

Explanation:

a) no: 50% of 4,000 is 2,000. 50% of 2,000 is a 1,000. So the car is not “free”, you will have to pay a $1,000.

b) $1,000