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Ede4ka [16]
3 years ago
7

The Gomez family just purchased a $2,574.54 laptop computer. They made a down payment of $574.54. Through the store's installmen

t plan, they agreed to pay $121.00 per month for the next 18 months. A. What is the amount financed? B. What is the finance charge? C. What is the APR?

Mathematics
1 answer:
Maurinko [17]3 years ago
3 0
A) The amount financed is the purchase amount less the down payment.
  $2,574.54 -574.54 = $2000.00

B) The finance charge is the total of payments less the amount financed.
  18*$121.00 -2000.00 = $178.00

C) The APR is calculated by a financial calculator to be 10.96%.

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The ratio that exist between this three elements are 25 : 19 : 13.

Step-by-step explanation:

Ratio compares one thing to another. Ratios indicate the comparison of the size of a number to another . One trick about ratio is that you can multiply or divide the ratios by same number. For example the ratio of boy to girls can be represented as 3 : 4. If you multiply the ratios by 2 you will get the ratio 6 : 8 and it still represent the same ratios of boys to girls. Ratios can be written as a fraction for example 3/4 for our example.

The cost of the unit is made up of $6.25 , $4.75 and $3.25.

$6.25  $4.75  $3.25 . Let us multiply by 100 to remove the decimals.

625 : 475 : 325 . Now let simplify the ratios by dividing through by 25.

625/25 : 475/25 : 325/25 . The simplest ratios can be written as follows

The ratios are 25 : 19 : 13.

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