Question

Peter decided to buy a new car. He made a $2,160 down payment and then took a 48-month loan. The total amount for the car, plus interest on the loan, was $16,560. How much did Peter have to pay each month?

Answer 1

16560-2160=14400, 14400=48x, x=$300

Answer 2

Peter would pay $300.00 per month.

First, figure out how much he has to pay after the down payment:
2,160 - 16,560 = 14,400

Then, divide 14,400 by 48 to get how much money he had to pay per month:
14,400 ÷ 48 = 300

Hope this helps!!
~Kiwi