Answer:
$13
Step-by-step explanation:
$26,555 ÷ 36 = 737.6388889 ≈ $738 per month
36 × 738 = $26,568
= $13
Answer:
$13 will be overpaid after 36 months if payments are rounded of to nearest whole number dollar.
Step-by-step explanation:
We are given the following in the question:
Total cost of car = $26,555
Number of equal installments made = 36
Payment of 1 installment =
[tex]\displaystyle\frac{\text{Toatl cost}}{\text{Number of installments}} = \frac{26555}{36} = 737.6389\$[/tex]
Rounding of to nearest whole number, payment of one installment = $738
Value of 36 installments of $738 each =
[tex]36\times 738 = 26568\$[/tex]
Money overpaid after 6 months =
[tex]26568 - 26555 = 13\$[/tex]
Thus, $13 will be overpaid after 36 months if payments are rounded of to nearest whole number dollar.
