A woman buys a car for $45,000. If the interest rate on the loan is 10%, compounded monthly, and if she wants to make monthly payments of $800 for 4 years, how much must she have for a down payment? Round your answer to the nearest dollar.
A) $24,561
B) $21,445
C) $13,457
D) $11,175
E) $18,784

Question

A woman buys a car for $45,000. If the interest rate on the loan is 10%, compounded monthly, and if she wants to make monthly payments of $800 for 4 years, how much must she have for a down payment? Round your answer to the nearest dollar. ​
A) $24,561
B) $21,445
C) $13,457
D) $11,175
E) $18,784

Quizplus · Accepted Answer

The Answer of A woman buys a car for $45,000. If the interest rate on the loan is 10%, compounded monthly, and if she wants to make monthly payments of $800 for 4 years, how much must she have for a down payment? Round your answer to the nearest dollar. ​
A) $24,561
B) $21,445
C) $13,457
D) $11,175
E) $18,784

A Woman Buys a Car for $45,000