Mathematics
CapinCole
2

PLEASE HELP I THANK PEOPLE!!!! Jennifer has to purchase a new car and wants to finance at most 3/4 of the total cost of the car (purchase price plus interest). The interest rate for financing right now is 1%. If she has $5,000 to put down, what is the most the car can cost (round to the nearest dollar)? A) $2,869 B) $14,423 C) $19,423 D) $24,423

+0
(1) Answers
megpinson

If we write as an equation the info described in the problem we have: (1/4)x = 5000 that is, x is the total price of the car including interest rate included, because the other 3/4 will be financed. We solve for x: x = 4*5000 x = 20000 that is, the car cost will be 20000 including interest rate that is 1%, so we are looking at the 101%, that is, 100% of the car cost plus 1% of interest rate included, so we use a rule of three simple with direct proportion to solve: 101% ------> $20000 100% ------> y y = (100)(20000)/101 y = 19801 so the total of the car is $19801

Add answer