Part III: Reading the Fine Print Excited to buy her dream car, Molly rushes into her local Jeep dealership. Molly picks out a car, sits down at the financing
desk, and hears the following:
"Well, we ran your credit history. You've got a really thin file - Just a year's worth of student loan payments. The
deal you saw was for 'well qualified buyers. The best deal we can offer you is 6.6% for 60 months. A little more
bad news the cash allowance is also based on credit history, so you don't qualify for $500. That said, you're
excited about a Jeep, and I want to see you driving one, so I can do $400 for you!"
9. Molly still has a $2500 down payment. How much loan does Molly need?

$175

Step-by-step explanation:

Let x represent money saved by her in one month.

So money saved by her in one year (12 months) would be .

We can represent our given information as:

Therefore, she needs to save $175 per month.

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