Question

Felicity put down 800 on a used car. She took out a loan to pay off the balance of the cost of the car. Her monthly payment will be 175. After 9 months how much will she have paid for the car?

Answer 1

She would have paid 1,575 dollars plus the 800 down payment. The total would be $2,375.

Answer 2

After 9 months, the amount she has paid for the car is 2375.

Given,

Felicity put down 800 on a used car.

She took out a loan to pay off the balance of the cost of the car.

Monthly payment = 175.

We need to find the amount paid for the car after 9 months.

What is a down payment?

It is a sum of money that a buyer pays in the early stages of purchasing a good.

We have,

Down payment = 800

Monthly pay = 175

So we can write it as,

1 month = 175

Multiply 9 on both sides.

We get,

9 x 1 month = 9 x 175

9 months = 1575

The total amount she has paid after 9 months is :

= Down payment + 9 months payment

= 800 + 1575

= 2375.

Thus after 9 months, the amount she has paid for the car is 2375.

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