Molly has a $2500 down payment saved for this purchase, and the dealer’s $1500 Cash Allowance will come straight off her total. How much loan does Molly need?

Question

asked Nov 15, 2021 164k views

1 Answer

Greg Ross · Answer 1 · 2021-11-20T20:52:26+0000

Answer:
$\$\ 1000$

Explanation:

Given

Molly down payment
$=\$\ 2500$

Dealer's allowance
$=\$\ 1500$

For loan amount , It is equal to the difference of molly down payment and dealer allowance

loan amount
=2500-1500

loan amount
$=\$\ 1000$

So, Molly needs
$\$\ 1000$ loan