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
astraxan [27]
3 years ago
14

Your car lease requires a down payment of $1,500 and payments of $450 per month for 36 months. the apr is 6% compounded monthly

and payments are made at the end of the month. at the end of the lease, you have the option to buy the vehicle for $20,000 (the residual value). how much is the car worth today? (round to whole number and answer without $ sign)
Mathematics
1 answer:
Svetach [21]3 years ago
8 0
Monthly interest, i = APR/12 = 0.06/12 = 0.005
Monthly payment, A = $450
Period, n = 36 (months)
Future value of payment
= A((1+i)^n-1)/i
= 450((1.005^36-1)/0.005
= 17701.2472341
Future value of car
F = future value of payment + residual value
= 17701.2472341 + 20000
= 37701.2472341

Present value of car
= downpayment + present value of future payments
= 1500 + F/(1+i)^36
= 1500 + 37701.2472341/(1.005^36)
= 1500 + 31504.86
= 33004.86
You might be interested in
The adult elephant at the zoo weighs 12,500 pounds. It is five times heavier than the baby elephant. How much does the baby elep
Sveta_85 [38]
Adult weighs 12,500 pounds 
it is 5 times heavier
 baby = x

adult = 5x  ( 5 times the weight of the baby)

12,500 = 5x

divide both sides by 5

x = 12500 / 5
x = 2500
 the baby weights 2,500 pounds


7 0
3 years ago
Read 2 more answers
PLEASE HELP ASAP 20 POINTS!!!!!!
tankabanditka [31]
Number 1.
Subtracting Negative Is The Same As Adding.
<span>So, It Would Be Equivalent  To A
</span>Number 2:
Subtracting From A Negative Is Making The Negative Number Larger.
<span>So, It Would Be A
</span>Number 3:
<span>Positive Plus Positive Makes Larger Positive:
37 + 13 = 50</span>.
<span>So, 3 Is D.
Number 4:
</span>Adding Negative Is Making Positive Numbers Smaller.
So, It Is C.
Number 5:
This Is C, Because -30 + 30 = 0 + 1 = 1 
4 0
3 years ago
Read 2 more answers
Select the sets of data where it would be better to use a histogram than a
Contact [7]

Answer:

Weight of students in your class

Daily rainfall in Miami over a month

Step-by-step explanation:

A histogram is applied when the data is discrete/ continuous to present a visual understanding of the data by showing the number of data set fitting is a specified range.

A dot plot utilizes data which has only one measured variable, where the variable can be organized into categories.

8 0
3 years ago
A restaurant operator in Accra has found out that during the partial lockdown, if she sells a plate of her food for GH¢20 each,
Lilit [14]

Answer:

Step-by-step explanation:

First, note this parameters from the question.

We let x = number of $5 increases and number of 10 decreases in plates sold.

Our Revenue equation is:

R(x) = (300-10x)(10+5x)

We expand the above equation into a quadratic equation by multiplying each bracket:

R(x) = 3000 + 1500x - 3000x - 1500x^2

R(x) = -1500x^2 - 1500x + 3000 (collect like terms)

Next we simplify, by dividing through by -1500

= 1500x^2/1500 - 1500x/1500 + 3000/1500

= X^2 - x + 2

X^2 - x + 2 = 0

Next, we find the axis of symmetry using the formula x = -b/(2*a) where b = 1, a = 1

X = - (-1)/2*1

X = 1/2

Number of $5 increases = $5x1/2 = $2.5

=$2.5 + $20 = $22.5 ticket price gives max revenue.

7 0
3 years ago
A circle is dropped into parabola y = x 2 . what is the radius of the largest circle that will touch the vertex?
Whitepunk [10]
A circle with the radius of 6
5 0
3 years ago
Other questions:
  • Alisa had 1/2 L of juice in a bottle. She drank 3/8 L of her juice. What
    10·1 answer
  • A garden measures 6 feet by 7 feet. A gravel path of constant width is placed around the garden so that the total area is 72 squ
    9·2 answers
  • jeff wants to buy a phone card for long distance calls. he can buy a 200-minute card for $10.00 or a 300-minute card for $12.00.
    13·2 answers
  • Find the expression below that is equivalent to 5^11/5^13
    12·2 answers
  • Which answer is the equation of the line represented in function notation?
    15·1 answer
  • PLS HELP I NEED IT FOR MY TEST. I WILL GIVE BRAINLIEST.
    14·1 answer
  • Susan makes $22 per hour in a clerical position. If she works 30 hours per week, what is her gross
    9·1 answer
  • you only have $47. there is a tax rate of 4.6%. how much can you spend and still have enough to pay taxes
    14·1 answer
  • On the graph of f(x)=sinx and the interval [2π,4π), for what value of x does f(x) achieve a minimum?
    10·1 answer
  • What is the explicit formula of the arithmetic sequence?<br> -9, -6, -3, 0....
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!