brisensenig02
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WILL GIVE BRAINLIEST TO THE CORRECT ANSWER!!!

John bought a used truck for $4,500. He made an agreement with the dealer to put $1,500 down and make payments of $350 for the next 10 months. The extra cost paid by taking this deal is equivalent to what actual yearly rate of interest?
A. 36%
B. 63%
C. 33%
D. 3.6%

Respuesta :

legendman27
first  the amount paid = $1500

So Making $350 for 10 months = 10*350 = $3500

Total amount paid is 1500 + 3500 = 5000

So the amount of $5000 was paid to cover the cost of $4500 within the 10 months

So you would get 33.
$350 for ten month is is $3500 
YOU already payed 1500

3500  and 1500  equals 5000

So  u paid $5000 to cover $4500 in 10 months

so it is 33% or C

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