Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lucinda wants to buy a car that is available at two dealerships. The price of the car is the same at both dealerships. Luczak Motors

Lucinda wants to buy a car that is available at two dealerships. The price of the car is the same at both dealerships. Luczak Motors would let her make quarterly payments of $5,800.00 for 7 years at a quarterly interest rate of 3.87 percent. Her first payment to Luczak Motors would be due immediately. If White Cars would let her make equal monthly payments of $3,600.00 at a monthly interest rate of 2.18 percent and if her first payment to White Cars would be in 1 month, then how many monthly payments would Lucinda need to make to White Cars?

22.39 (plus or minus 0.3 payments)

44.52 (plus or minus 0.3 payments)

42.95 (plus or minus 0.3 payments)

21.78 (plus or minus 0.3 payments)

20.05 (plus or minus 0.3 payments)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essential Wholesaling Strategies For Real Estate Success

Authors: Farisg H. Al-farisi

1st Edition

979-8866103171

More Books

Students also viewed these Finance questions