A person borrowed 1,600,000 php for the purchase of a car. If his monthly payment is 34,500 php on a 5 - year mortgage, find the total amount of interest A 172,500 php B 470,000 php 2,070,000 php 260,000 php

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.44TI: In 5 years, Gloria’s bank account earned $2,400 interest at 5%. How much had she deposited in the...
icon
Related questions
Question

help 

A person borrowed 1,600,000 php for the purchase of a car. If his monthly
payment is 34,500 php on a 5- year mortgage, find the total amount of interest.
(A
172,500 php
B
470,000 php
2,070,000 php
(D
260,000 php
Transcribed Image Text:A person borrowed 1,600,000 php for the purchase of a car. If his monthly payment is 34,500 php on a 5- year mortgage, find the total amount of interest. (A 172,500 php B 470,000 php 2,070,000 php (D 260,000 php
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell