Andy wants to buy a car that costs $22,750. The dealership will finance the car for 5 years, at 4.95%, with a 15% down-payment. What is the Down Payment?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Andy wants to buy a car that costs $22,750. The dealership will finance the car for 5 years, at 4.95%, with a 15% down-payment.

What is the Down Payment?

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