A trader sold a car to Mr. Brown for $1,250 at a profit of 25%. How much profit did the trader make?
1 answer:
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Answer:
D. $31,337.27
Step-by-step explanation:
We have that the initial amount of the loan is $5500.
Miranda took the loan for 4 years. So, the total present value is $5500×4 = $22,000.
The rate of interest on the loan is 7.5% i.e. 0.075 and it was for the duration of 10 years.
Also, it is given that the loan was compounded annually.
We have the formula as,
i.e.
Substituting the values, we get,
i.e.
i.e.
i.e.
i.e.
i.e.
i.e.
i.e.
i.e.
Thus, the total lifetime cost to pay of the loans compounded annually = 261.16 × 120 = $31,339.2
Hence, the total cost close to the answer is $31,337.27
ANSWER
EXPLANATION
We want to determine the value of f(3) that will lead to an average rate of change of 19 over the interval [3, 5].
The average rate of change of f(x) over the interval [a,b]:
If the average rate of change over the interval [3, 5] is 19, then;
From the to table f(5)=13