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jennifer has to purchase a new car and wants to finance at most 3/4 of the total cost of the car (purchase price plus interest). the interest rate for financing right now is 1%. if she has $5,000 to put down, what is the most the car can cost (round to the nearest dollar)?

a) $2,869

b) $14,423

c) $19,423

d) $24,423

If we write as an equation the info described in the problem we have:
(1/4)x = 5000
that is, x is the total price of the car including interest rate included, because the other 3/4 will be financed. We solve for x:
x = 4*5000
x = 20000
that is, the car cost will be 20000 including interest rate that is 1%, so we are looking at the 101%, that is, 100% of the car cost plus 1% of interest rate included, so we use a rule of three simple with direct proportion to solve:

101% > $20000
100% > y
y = (100)(20000)/101
y = 19801
so the total of the car is $19801

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