1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
cestrela7 [59]
3 years ago
13

evan purchased a boat for $8825. He made a down payment of $2500. He applied for a three-year installment loan with an interest

rate of 10.2%. What is the total cost of the boat after three years
Mathematics
1 answer:
Gekata [30.6K]3 years ago
5 0
The present worth of the boat is $8825. The interest rate is 10.2% and it's not stated whether or not the interest is nominal, so we assume it's annual and effective. We use the formula:
F = P (1 + i)^n
where F is the future worth
P is the present worth
i is the effective annual interest rate
n is the number of years

Substituting:
F = 8825(1 + 0.102)^3
F = 11810.26

The future worth of the boat is 
$11,810.26
You might be interested in
If 3 apples cost $6 how much would 1 Apple cost
AnnyKZ [126]
Divide 6 by 3
3 goes into 6, 2 times so one apple costs $2
8 0
3 years ago
Read 2 more answers
Which of the following could be a slant cross section of a right cone?
andriy [413]
I believe the answer is B, Oval.
4 0
3 years ago
In the figure below, BD and AC are diameters of circle P.
elena-14-01-66 [18.8K]

Answer:

arc\ DC=30^o

Step-by-step explanation:

<u><em>The picture of the question in the attached figure</em></u>

The point P is the center of the circle (the drawing is not a scale )

step 1

Find the measure of angle ∠CPD

we know that

m\angle CPD+150^o=180^o ---> by supplementary angles (form a linear pair)

m\angle CPD=180^o-150^o=30^o

step 2

Find the measure of arc DC

we know that

<u><em>Central angle</em></u> is the angle that has its vertex in the center of the circumference and the sides are radii of it

so

arc\ DC=m\angle CPD ----> by central angle

therefore

arc\ DC=30^o

5 0
3 years ago
Question 13
charle [14.2K]

The amount to be invested today so as to have $12,500 in 12 years is  $6,480.37.

The amount that would be in my account in 13 years is $44,707.37.

The amount I need to deposit now is $546.64.

<h3>How much should be invested today?</h3>

The amount to be invested today = future value / (1 + r)^nm

Where:

  • r = interest rate = 5.5 / 365 = 0.015%
  • m = number of compounding = 365
  • n = number of years  = 12

12500 / (1.00015)^(12 x 365) = $6,480.37

<h3>What is the future value of the account at the end of 13 years?</h3>

Future value = monthly deposits x annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

Where:

  • r = interest rate = 5.3 / 12 = 0.44%
  • n = 13 x 12 = 156

200 x [{(1.0044^156) - 1} / 0.0044] = $44,707.37

<h3>What should be the monthly deposit?</h3>

Monthly deposit = future value / annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

Where:

  • r = 6.7 / 12 = 0.56%
  • n = 2 x 12 = 24

$14,000 / [{(1.0056^24) - 1} / 0.0056] = $546.64

To learn more about annuities, please check: brainly.com/question/24108530

#SPJ1

4 0
2 years ago
What is 'Five less than 25' in numerical expression?
saveliy_v [14]

Answer:

5 < 25

in numerical expression

7 0
2 years ago
Read 2 more answers
Other questions:
  • Joshua goes out to eat with his friends. Their meal comes to $45.28. They decide to leave a 15% tip. How much is the tip? _How m
    6·1 answer
  • 1. What is the area of a rectangular crystal face that has one side measuring
    5·1 answer
  • Which of the following is the result of the operation below?
    10·1 answer
  • Select all the expressions that could represent the volume of a box, which is a fourth degree polynomial in variables x and y.
    11·1 answer
  • A 30-year loan of $1,000 is repaid with payments at the end of each year. Each of the first ten payments equals the amount of in
    8·1 answer
  • Can someone help me with my math homework I don't get it and can you please explain how you did it. Also only help me with the h
    11·1 answer
  • Isaiah helped pick 72 bananas on the weekend. There were a total of 6 people picking bananas. If they each picked an equal numbe
    12·2 answers
  • If &lt; W and &lt; Y are supplementary, and &lt; W = 121 °, then what would &lt; Y measure?
    14·1 answer
  • Answer question below <br> answer question below
    6·1 answer
  • 2/5 kilogram of soil fills 1/3 of a countainer. Can 1 kiligram of soil fit in the container?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!