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10. Morris buys a car for $10,295. He gets a trade-
in allowance of $2295 for his old car. If he
takes out a loan at 12% interest for 4 years,
how much will the monthly payments be?

Respuesta :

ryannebrich

Answer:

$187

Step-by-step explanation:

$10,295 - $2,295 = $8,000

Price of car = $8,000

4 years is 48 months

$8,000 x 12% = $8,960

$8,960 / 48 = 186.67

round up to $187  a month

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