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Andru [333]
3 years ago
6

Joe Summers buys a gas grill and accessories. The cost, including tax, amounts to $850.00. Joe finances the grill over 12 months

after making a $150 down payment. The true annual interest rate is 14%. What are Joe's monthly payments (principal plus interest)?
To the nearest penny, c = $.
Total of payments = amount financed + c = $.
Total of payments ÷ number of payments = monthly payment = $
Mathematics
1 answer:
Anettt [7]3 years ago
7 0

Answer:

$66.5

Step-by-step explanation:

The cost, including tax, amounts to $850.00.

Down payment =$150

Amount after paying down payment = $850-$150=$700

Interest rate = 14 %

So, interest on $700 = \frac{14}{100} \times 700 =98

So, c = $98

Total payment = amount financed + c  = 700+98=$798

Now Joe finances the grill over 12 months

So, no. of payments = 12

Now Monthly payment = Total of payments ÷ number of payments

                                        =798 ÷ 12

                                        =$66.5

Hence Joe's monthly payments (principal plus interest) is $ 66.5

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Answer:

"To the nearest year, it would be about 9 years"

Step-by-step explanation:

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This is compound growth problem. It goes by the formula:

F=P(1+r)^t

Where

F is the future amount

P is the present (initial) amount

r is the rate of growth, in decimal

t is the time in years

Given,

P = 20,000

r = 8% = 8/100 = 0.08

F = double of initial amount = 2 * 20,000 = 40,000

We need to find t:

F=P(1+r)^t\\40,000=20,000(1+0.08)^t\\2=(1.08)^t

To solve exponentials, we can take Natural Log (Ln) of both sides:

2=(1.08)^t\\Ln(2)=Ln((1.08)^t)

Using the rule shown below we can simplify and solve:

Ln(a^b)=bLn(a)

We can write:

Ln(2)=Ln((1.08)^t)\\Ln(2)=tLn(1.08)\\t=\frac{Ln(2)}{Ln(1.08)}\\t=9.0064

To the nearest year, that would be about 9 years

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3 years ago
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iogann1982 [59]

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The ODE in terms of these series is

\displaystyle\sum_{n=0}^\infty(n+1)a_{n+1}x^n+2\sum_{n=0}^\infty a_nx^n=0

\displaystyle\sum_{n=0}^\infty\bigg(a_{n+1}+2a_n\bigg)x^n=0

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We can solve the recurrence exactly by substitution:

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y(x)=\displaystyle a_0\sum_{n=0}^\infty\frac{(-2x)^n}{n!}

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Step-by-step explanation:

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Studentka2010 [4]

Answer:

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Step-by-step explanation:

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