Car Payments
Sheldon, Charlotte, and Kevin are looking to buy a used car together. The car costs $12,000, but a down payment of 20% of the price of the car is required.
How much will each payment be if the group wants to pay off the car in 12 months (after down payment)?
Choose the closest answer.
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1 solution
let x be each payment of the group: x = ( (12000-(1.2x12000))/12 = 800