Andy is buying a car.He negotiated a 7 percent decrease on a £6500 car.He will pay the full balance in 12 equal monthly payments.Calculate the amount payed each month

The amount payed each month by Andy is £ 504Solution:Given that, Andy is buying a car.  He negotiated a 7 percent decrease on a 6500 car. Then, amount to be paid = 6500 – 7% of 6500  [tex]\begin{array}{l}{\text { Amount to be paid }=6500 \times\left(1-\frac{7}{100}\right)} \\\\ {=6500 \times \frac{100-7}{100}=6500 \times \frac{93}{100}} \\\\ {\text { Amount to be paid }=65 \times 93=6045}\end{array}[/tex]He will pay the full balance in 12 equal monthly payments. We have to calculate the amount paid each month [tex]\begin{array}{l}{\text { monthly payment }=\frac{\text {total amount to be paid}}{12 \text { months }}} \\\\ {=\frac{6045}{12}=503.75}\end{array}[/tex]Hence, Andy has to pay £ 504 approximately each month.