SOLUTION: hi i started with the PV formula 0.094^60 = 2.4415 2,000/2.4415 this doesnt make sense 3. Friendly Auto offers Jennifer a car for $2000 down and $300 per month for 5 yea

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: hi i started with the PV formula 0.094^60 = 2.4415 2,000/2.4415 this doesnt make sense 3. Friendly Auto offers Jennifer a car for $2000 down and $300 per month for 5 yea      Log On


   

Question 1155327: hi
i started with the PV formula
0.094^60 = 2.4415
2,000/2.4415
this doesnt make sense
3. Friendly Auto offers Jennifer a car for $2000 down and $300 per month for 5 years. Jason wants to buy the same car but wants to pay cash. How much must Jason pay if the interest rate is 9.4%? (Hint: What is the present value of $300 at 9.4% plus $2,000 paid now?)
Answer by ikleyn(52803) About Me  (Show Source):
You can put this solution on YOUR website!
.

Regarding your part 1  (which goes without number,  and then is followed immediately by part 3)  you write 

    "this doesn't make sense".

I totally agree with it.

I only do not understand for what reason you posted this part to the forum.


Have a nice day.