Sally’s parents loaned her $7500 to buy a used car at an interest rate of 7.5%. Sally wants to have the car plus interest paid off in 2 years. How much would sally have to pay a month to reach her goal?

Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
ChapterP: Preliminary Concepts
SectionP.CT: Test
Problem 1CT
icon
Related questions
icon
Concept explainers
Topic Video
Question
Sally’s parents loaned her $7500 to buy a used car at an interest rate of 7.5%. Sally wants to have the car plus interest paid off in 2 years. How much would sally have to pay a month to reach her goal?
Sally's parents loaned her $1500 to bay
a used Car at an Interest rate of 1.5%,
Sally Wants to have the car plus Interest
paid CFF in 2 years. How much would
Sally have to pay a monthto reach her
goale
Transcribed Image Text:Sally's parents loaned her $1500 to bay a used Car at an Interest rate of 1.5%, Sally Wants to have the car plus Interest paid CFF in 2 years. How much would Sally have to pay a monthto reach her goale
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, geometry and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Elementary Geometry For College Students, 7e
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
Elementary Geometry for College Students
Elementary Geometry for College Students
Geometry
ISBN:
9781285195698
Author:
Daniel C. Alexander, Geralyn M. Koeberlein
Publisher:
Cengage Learning