Using simple interest, it is found that:
- The total amount paid was of $7,084.8.
- The finance charge was of $584.8.
- The simple interest rate was of 3%.
<h3>Simple Interest</h3>
Simple interest is used when there is a single compounding per time period.
The amount of interest after t years in is modeled by:
![I = Prt](https://tex.z-dn.net/?f=I%20%3D%20Prt)
In which:
- r is the interest rate, as a decimal.
In this problem, the amount paid was of 36 monthly payments of
$196.80, hence:
36 x 196.80 = $7084.8.
The total amount paid was of $7,084.8.
The original price is of $6,500, hence the finance charge was of:
7084.8 - 6500 = $584.8.
For interest, we have that:
, hence:
![I = Prt](https://tex.z-dn.net/?f=I%20%3D%20Prt)
![584.8 = 6500(3)r](https://tex.z-dn.net/?f=584.8%20%3D%206500%283%29r)
![r = \frac{584.8}{6500 \times 3}](https://tex.z-dn.net/?f=r%20%3D%20%5Cfrac%7B584.8%7D%7B6500%20%5Ctimes%203%7D)
![r = 0.03](https://tex.z-dn.net/?f=r%20%3D%200.03)
The simple interest rate was of 3%.
More can be learned about simple interest at brainly.com/question/25296782
Answer:
B) has one local maximum and one local minimum.
Step-by-step explanation:
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2.2cm should be the correct answer
Answer:
6=6
Step-by-step explanation:
2x3=3x2
6=3x2
6=6
927.15 would be your answer