Mathematics, 03.02.2021 04:00, ale414141

Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his car as collateral. His car if worth $3,500. His bank can offer loans for 80% of collateral value. The vacation he has planned will cost $4,750. Approximately how much additional collateral will Tom need to offer in order to borrow enough to go on his vacation as planned? A) $1,000.00
B) $1,362.50
C) $2,437.50 THIS ONE
D) $2,800.00
Explain it.

Answers: 2

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 16:00, ktprada

You use math in day-to-day routines when grocery shopping, going to the bank or mall, and while cooking. how do you imagine you will use math in your healthcare career?

Answers: 1

continue

Mathematics, 21.06.2019 16:30, LiannaMarquez542

Adam plans to choose a video game from the section of the store where everything is 75% off. he writes the expression d-0.75d to find the sale price of the game if the original price is d dollars. gena correctly writes another expression, 0.25d, that will also find the sale price of the game if the original price is d dollars. use the drop down menus to explain each part of adams and rena's expression

Answers: 3

continue

Mathematics, 21.06.2019 18:00, nefertitihorne12

Me asap! what is the slope of this line? enter your answer in the box.

Answers: 2

continue

Mathematics, 21.06.2019 18:30, tangia

The base of a triangle exceeds the height by 9 inches. if the area is 180 square inches, find the length of the base and the height of the triangle.

Answers: 3

continue

Do you know the correct answer?

Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his...