SOLUTION: 54.000/12=4500
8%=0.08
0.08*4500=360
360-100=260
How do I write this as an inequality? Car payments. As a rule of thumb, debt payments (other than mortgages) should be less t
Algebra.Com
Question 645419: 54.000/12=4500
8%=0.08
0.08*4500=360
360-100=260
How do I write this as an inequality? Car payments. As a rule of thumb, debt payments (other than mortgages) should be less than 8% of a consumer’s monthly gross income. Oliver makes $54,000 a year and has a $100 student-loan payment every month. What size car payment can he afford?
Divide 54,000 by 12 which will =4,500 Take 8%turn it into a decimal 0.08and multiply 4500=$360 then subtract the student loan $360-$100=$260
Oliver can afford a $260 car payment.
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
54.000/12=4500
8%=0.08
0.08*4500=360
360-100=260
How do I write this as an inequality? Car payments. As a rule of thumb, debt payments (other than mortgages) should be less than 8% of a consumer’s monthly gross income. Oliver makes $54,000 a year and has a $100 student-loan payment every month. What size car payment can he afford?
Divide 54,000 by 12 which will =4,500 Take 8%turn it into a decimal 0.08and multiply 4500=$360 then subtract the student loan $360-$100=$260
Oliver can afford a $260 car payment.
-----------
You have it right, unless Oliver has other debts he didn't disclose.
RELATED QUESTIONS
I do not know how to convert this equation into a logarithm. Can someone please help?... (answered by Edwin McCravy)
Car payments. As a rule of thumb, debt payments (other than mortgages) should be less... (answered by nerdybill)
how to write a guitar is $150 and to cost of a violin is $4500 and the total is $4500 as... (answered by Theo,ikleyn)
Car payment. As a rule of thumb,debt payments (other than mortgages) should be... (answered by rfer)
The question is:
Hannah invests $4500 in an investment with an APR of 5.2% compounded... (answered by Fombitz,Boreal,MathTherapy)
How do you solve this system of equations by graphing? y=-3x-2 y=x-2
Please give me an... (answered by ankor@dixie-net.com)
For how many years will Prasad make payments on the $28,000 he borrowed to start his... (answered by ikleyn)
PVA = 80,000/(1.08) + 90,000/(1.08)2 + 100,000/(1.08)3 = ?
PVB = 60,000/(1.08) +... (answered by greenestamps)
Workers at a certain soda drink factory collected data on the volumes​ (in ounces) of a (answered by CPhill)