Answer: the cost of the car is $54600
Step-by-step explanation:
Let x represent the cost of the car.
She pays a deposit equal to 20% of the cost of the car. This means that the amount of money that she paid as deposit would be
20/100 × x = 0.2 × x = 0.2x
The remaining balance would be
x - 0.2x = 0.8x
She will pay the balance in 8 equal payments of $5460 each month. This means that
0.8x/8 = 5460
0.1x = 5460
Dividing the left hand side and the right hand side of the equation by 0.1, it becomes
0.1x/0.1 = 5460/0.1
x = 54600
