Mr. Collins made 20 bird houses to sell at a carnival. He earns $15 for each bird house he sells. How much will Mr. Collins earn
1 answer:
Answer:
C. $300
Step-by-step explanation:
We have been given that Mr. Collins made 20 bird houses to sell at a carnival. He earns $15 for each bird house he sells.
To find the amount earned by Mr. Collin after selling all 20 bird houses, we need to multiply 20 by amount earned by selling each bird house.
Therefore, Mr. Collin will earn $300, if he sells all 20 bird houses.
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Answer:
The middle two expressions shown are not polynomials
Step-by-step explanation:
Polynomial terms have positive integer exponents on any variables. A 2/3 power is not an integer exponent. Division by y is equivalent to an exponent of -1, which is not a positive integer.
Part A:
1st month: Interest payable = 1% of $5,000 = $50.00
Amount paid in first month = $250 + $50.00 = $300
Unpaid balance = $5,000 - $250 = $4,750
2nd month: Interest payable = 1% of $4,750 = $47.50
Amount paid in second month = $250 + $47.50 = $297.50
Unpaid balance = $4,750 - $250 = $4,500
3rd month: Interest payable = 1% of $4,500 = $45.00
Amount paid in third month = $250 + $45.00 = $295.00
Unpaid balance = $4,500 - $250 = $4,250
4th month: Interest payable = 1% of $4,250 = $42.50
Amount paid in fouth month = $250 + $42.50 = $292.50
Unpaid balance = $4,250 - $250 = $4,000
5th month: Interest payable = 1% of $4,000 = $40.00
Amount paid in fifth month = $250 + $40.00 = $290.00
Unpaid balance = $4,000 - $250 = $3,750
6th month: Interest payable = 1% of $3,750 = $37.50
Amount paid in sixth month = $250 + $37.50 = $287.50
Unpaid balance = $3,750 - $250 = $3,500
7th month: Interest payable = 1% of $3,500 = $35.00
Amount paid in seventh month = $250 + $35.00 = $285.00
Unpaid balance = $3,500 - $250 = $3,250
8th month: Interest payable = 1% of $3,250 = $32.50
Amount paid in eighth month = $250 + $32.50 = $282.50
Unpaid balance = $3,250 - $250 = $3,000
9th month: Interest payable = 1% of $3,000 = $30.00
Amount paid in ninth month = $250 + $30.00 = $280.00
Unpaid balance = $3,000 - $250 = $2,750
10th month: Interest payable = 1% of $2,750 = $27.50
Amount paid in fouth month = $250 + $27.50 = $277.50
Unpaid balance = $2,750 - $250 = $2,500
11th month: Interest payable = 1% of $2,500 = $25.00
Amount paid in seventh month = $250 + $25.00 = $275.00
Unpaid balance = $2,500 - $250 = $2,250
12th month: Interest payable = 1% of $2,250 = $22.50
Amount paid in eighth month = $250 + $22.50 = $272.50
Unpaid balance = $2,250 - $250 = $2,000
Part B:
Number of payments = 5000 / 250 = 20
Total amount of interest = 50 + 47.5 + 45 + . . . + upto the 20th payment.
This is an arithmetic sequence with the first term as 50, common difference as -2.5 and number of terms = 20.
Sum of the first 20th term of the GP is given by
![S_n= \frac{20}{2}[2(50)+(20-1)(-2.5)] \\ \\ =10(100-2.5(19))=10(100-47.5) \\ \\ =10(52.5)=\$525.00](https://tex.z-dn.net/?f=S_n%3D%20%5Cfrac%7B20%7D%7B2%7D%5B2%2850%29%2B%2820-1%29%28-2.5%29%5D%20%5C%5C%20%20%5C%5C%20%3D10%28100-2.5%2819%29%29%3D10%28100-47.5%29%20%5C%5C%20%20%5C%5C%20%3D10%2852.5%29%3D%5C%24525.00)
Therefore, the <span>total amount of interest paid over the term of the loan is $525.00</span>
1st month: Interest payable = 1% of $5,000 = $50.00
Amount paid in first month = $250 + $50.00 = $300
Unpaid balance = $5,000 - $250 = $4,750
2nd month: Interest payable = 1% of $4,750 = $47.50
Amount paid in second month = $250 + $47.50 = $297.50
Unpaid balance = $4,750 - $250 = $4,500
3rd month: Interest payable = 1% of $4,500 = $45.00
Amount paid in third month = $250 + $45.00 = $295.00
Unpaid balance = $4,500 - $250 = $4,250
4th month: Interest payable = 1% of $4,250 = $42.50
Amount paid in fouth month = $250 + $42.50 = $292.50
Unpaid balance = $4,250 - $250 = $4,000
5th month: Interest payable = 1% of $4,000 = $40.00
Amount paid in fifth month = $250 + $40.00 = $290.00
Unpaid balance = $4,000 - $250 = $3,750
6th month: Interest payable = 1% of $3,750 = $37.50
Amount paid in sixth month = $250 + $37.50 = $287.50
Unpaid balance = $3,750 - $250 = $3,500
7th month: Interest payable = 1% of $3,500 = $35.00
Amount paid in seventh month = $250 + $35.00 = $285.00
Unpaid balance = $3,500 - $250 = $3,250
8th month: Interest payable = 1% of $3,250 = $32.50
Amount paid in eighth month = $250 + $32.50 = $282.50
Unpaid balance = $3,250 - $250 = $3,000
9th month: Interest payable = 1% of $3,000 = $30.00
Amount paid in ninth month = $250 + $30.00 = $280.00
Unpaid balance = $3,000 - $250 = $2,750
10th month: Interest payable = 1% of $2,750 = $27.50
Amount paid in fouth month = $250 + $27.50 = $277.50
Unpaid balance = $2,750 - $250 = $2,500
11th month: Interest payable = 1% of $2,500 = $25.00
Amount paid in seventh month = $250 + $25.00 = $275.00
Unpaid balance = $2,500 - $250 = $2,250
12th month: Interest payable = 1% of $2,250 = $22.50
Amount paid in eighth month = $250 + $22.50 = $272.50
Unpaid balance = $2,250 - $250 = $2,000
Part B:
Number of payments = 5000 / 250 = 20
Total amount of interest = 50 + 47.5 + 45 + . . . + upto the 20th payment.
This is an arithmetic sequence with the first term as 50, common difference as -2.5 and number of terms = 20.
Sum of the first 20th term of the GP is given by
Therefore, the <span>total amount of interest paid over the term of the loan is $525.00</span>