Nancy is the proud owner of a new car. she paid $1,500 up front and took out a loan for the rest of the amount. the interest rate on the loan is 5%. if the total cost of buying the car (including the interest nancy owes) is more than $16,213.02, how much money did nancy borrow?

Step-by-step explanation:

In order to buy the new car, Nancy

paid $1,500 up front and took out a loan for the rest of the amount.

Let x = The amount of loan that she took.

The interest rate on the loan is 5%.

This means that she paid interest of 5/100 × x = 0.05 × x

= 0.05x

If the total cost of buying the car (including the interest Nancy owes) is more than $16,213.02,

It means that

1,500 + x + 0.05x is greater than 16,213.02

1500 + 1.05x = 16213.02

1.05x = 16,213.02 - 1500

1.05x = 114713.02

x = 114713.02/1.05

x = $109250 .49524

The amount that Nancy borrowed is greater than $109250 .49524

all it means is function 3

let's solve your equation step-by-step.

4x+2=2x+12

step 1: subtract 2x from both sides.

4x+2−2x=2x+12−2x

2x+2=12

step 2: subtract 2 from both sides.

2x+2−2=12−2

2x=10

step 3: divide both sides by 2.

2x

2

=

10

2

x=5

step-by-step explanation: