Todd is able to pay $180 a month for 5 years for a car. if the interest rate is 4.9 percent, how much can todd afford to borrow to buy a car

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09-03-2017
Mathematics

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Todd is able to pay $180 a month for 5 years for a car. if the interest rate is 4.9 percent, how much can todd afford to borrow to buy a car

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tpalamalu43 tpalamalu43 · Answer 1 · 2017-03-09T06:18:49+01:00

tpalamalu43 tpalamalu43

09-03-2017

If you turn the years into months(60) and multiply it by the 180 per month =, you end with 10,800 then multiply that by .49 because its a percent and get a total of 5,292. Finally add the 10,800 and 5,292 and the answer is $16,092.

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