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Evelyn is buying a motorcycle that costs $14,000. The tax rate is 6.75%, and she plans to make a down payment of $1,500. The sales tax is
added before the down payment is applied. She is considering a three-year loan

Respuesta :

lucaspuerta17

Answer:

449.10

Step-by-step explanation:

abidemiokin

Her monthly payment, if she is considering a three-year loan is $373.47

Given the cost of the motorcycle to be $14000

If the tax rate is 6.75%, the total cost plus tax is expressed as:

Final cost = 14000+(0.0675 * 14000)

Cost of motorcycle = 14000 + 945

Cost of motorcycle = $14945

If she plans to make a down payment of $1,500 before the sales tax is applied, then;

Balance = 14945 - 1500

Balance = $13,445

If she considers  a three-year loan, her monthly payment will be ;

Monthly payment = 13,445/36

Monthly payment = $373.47

Hence her monthly payment if she is considering a three-year loan is $373.47

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