Question

the monthly lease payment for a car is 1.2% of the vehicles sticker price, which is $30, 000. what will be the monthly payment? $600 $400 $300 $360

Explanation:

Step1: Convert percentage to decimal

To find 1.2% of a number, we first convert 1.2% to a decimal. We do this by dividing by 100, so \( 1.2\% = \frac{1.2}{100}=0.012 \).

Step2: Calculate the monthly payment

The sticker price of the vehicle is \$30,000. To find the monthly lease payment, we multiply the sticker price by the decimal equivalent of the percentage. So we calculate \( 30000\times0.012 \).
\( 30000\times0.012 = 360 \). So the monthly payment is \$360.

Answer:

\$360