Question

If you buy a car for $5,000 and you put down $1,500 for a down payment, how much equity will you have in the car?

A. $1,500
B. $5,000
C. $6,500
D. $3,500

Answer 1

C.$6,500

Explanation:

Because you payed $5,000 for a car and $1,500 more for a down payment, so we would have to add.

$5,000 (cost of car) + $1,500 (cost of down payment) = $6,500 (total pay)