Kaden wants to buy a boat that costs $29,500. He will make a $5,000 down payment and borrow the remaining with a 72-month loan that has an annual interest rate of 4.8%. Determine Kaden’s monthly boat payment to the nearest dollar amount. M = Monthly Payments
P = Amount Borrowed
r = Annual Interest Rate
n = Total Number of Monthly Payments

step-by-step explanation:

step 1: solve one of the equations for one of the variables. let's solve the first equation for y:

step 2: substitute that equation into the other equation, and solve for x.

step 3: substitute x = 4 x = 4 x=4 into one of the original equations, and solve for y.

for certain loans like mortgage loans, lenders scrutinize your debt to income ratio when you are applying for credit because it them evaluate your ability to repay your debts.

7x7=4 so if u carry the 9 it will be 33