Question

Joe bought a new Truck for $49,000 plus $5,000 in tax, title, and license with a zero percent interest rate for 5 years. If he made a $7,500 down payment, how much would he pay each month for the five years?

Answer 1

$775

Explanation:

Answer 2

$775

Explanation:

When you take the $49,000 he spend and the $5,000 in taxes he spent $54,000. when he makes a down payment for $7,500 that means he has to pay $46,500 off in the next five years making equel payment each month. Since there are 60 months in 5 years if we divide $46,500 by 60 we get our answer $775 a month in payments