LessonIncluding10Let's Do The SkillSolve the following problems.a. Mr. Moredo paid $150 000.00 as down payment for a new car and #22 150.50 asmonthly amortization for 72 months. How much did he pay for his car?Understand:Plan:Solve:Check:
Answer (1)
Answer:To solve this problem, we'll follow these steps:Understand: * We need to find the total cost of the car. * We know the down payment and the monthly amortization amount for a certain number of months.Plan: * We'll calculate the total amount paid through monthly amortization by multiplying the monthly payment by the number of months. * Then, we'll add the down payment to the total monthly payments to get the total cost of the car.Solve: * Calculate total monthly payments: * Total monthly payments = Monthly amortization * Number of months * Total monthly payments = ₱22,150.50 * 72 months * Total monthly payments = ₱1,594,836 * Calculate total cost of the car: * Total cost = Down payment + Total monthly payments * Total cost = ₱150,000.00 + ₱1,594,836 * Total cost = ₱1,744,836Check: * We can check our answer by dividing the total cost by the number of months and adding the down payment. If the result is the monthly amortization amount, our answer is correct.Therefore, Mr. Moredo paid ₱1,744,836 for his car.
