Duane decided to purchase a $31,000 MSRP vehicle at a 5.5% interest rate for
5 years. The dealership offered him a $4500 cash-back incentive, which he
accepted. Taking all these factors into consideration, what monthly payment
amount can he expect?

A. $592.14

B. $517.39

C. $506.18

D. $442.28

(C)

Step-by-step explanation:

Manufacturer's Suggested Retail Price = $31,000

CashBack = $4500

Amount Financed = $31,000-4500 =$26500

Interest rate Per Annum =5.5%

Rate Per Period (Monthly), r

Time =5 Years

Number of Periods, n=5 X 12=60 Months

mean, 40.6

step-by-step explanation:

we have three similar triangles, because each has a right angle and shares an angle.   let's write the angles in order: opposite to short leg, long leg, hypotenuse.

cab similar to bad similar to cbd

or as ratios,

ca: ab: cb = ba: ad: bd = cb: bd: cd

we also know

ac = ad + cd

(ad+cd): ab: cb = ba: ad: bd = cb: bd: cd

(ad+cd)/cb=cb/cd

we have cb=6, ad=5 and seek x=cd.

we reject the negative root and conclude x=4

answer: 4