Question

( 5/13 Marie made a $4,500 down payment on a car. The total cost of the car was $19,000. She made 50 equal monthly payments to pay the car in full. How much did Marie pay per month? Equation: Solution:

Answer 1

The total cost is $19,000, but Marie already did a payment of $4,500, so the remaining cost is:

$19000-4500=14500$

Now, this remaining cost was paid in 50 equal monthly payments, so in order to find the value of this monthly payment, we just need to divide the remaining cost by 50:

$\frac{14500}{50}=\frac{1450}{5}=290$

So Marie paid $290 per month.