Question

URGENT! If I don't get help with this I'll fail! The question is posted below.

Answer 1

4) Say that you are purchasing a used car for $22,350. The sales tax is 7.5%, the down payment is $1,200.00, and you have an average credit rating. If your first payment is $475.25, how much of the payment goes toward the principal?

Ave. Secured 5.85 Unsecured 6.75

Answer 2

I know that we're supposed to use the secured credit because we're talking about car, but I don't know how to complete this.

Answer 3

I'm sorry you haven't received replies for all this. I don't understand it at all and just let the bank figure it out for me!

However, I think lines like this one are too vague and no one quite knows what to do with this info?
Average Secured-5.85 Unsecured- 6.20
Are you supposed to come up with two answers per question? Perhaps if you clarify and then repost only ONE of these questions, you'll be more likely to get a response.

Answer 4

Sorry *5.85 and 6.75

Answer 5

This is how the question is posted for me. its not a exam, just a quiz, but its so confusing for me.

We're supposed to disregard one of the numbers (secured/unsecured) and find our conclusion. In this case we use "secured" because we're talking about a car.

that is ALL I know about his problem

Answer 6

I didnt mean that it was a quiz. I meant that its homework set up like one

Answer 7

@Nnesha? @freckles @radar?

Answer 8

@uri? @jigglypuff314?