Valerie is going to purchase a new car. The car she wants has a list price of $32,495. Valerie is planning to make a down payment of $1,877. Furthermore, she plans to trade in her current car, which is a 2006 Hyundai Sonata in good condition. She will finance the rest of the cost by making monthly payments over five years.

Question

Mathematics

River Love

7 May, 23:41

Valerie is going to purchase a new car. The car she wants has a list price of $32,495. Valerie is planning to make a down payment of $1,877. Furthermore, she plans to trade in her current car, which is a 2006 Hyundai Sonata in good condition. She will finance the rest of the cost by making monthly payments over five years.

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Answers (2)

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Frank Bartlett · Answer 1

She will pay $ 510.6 each month for 5 years to pay the price

Step-by-step explanation:

list price - down payment

= $32495-$1877 = $30618

5 years have 60 months so dividing it in equal installments she has to pay = $30618/60 = $510.6 each month