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tiny-mole [99]
3 years ago
15

Carlos bought a $235 water heater with his credit card. He used the water heater for five years before replacing it. He paid off

the water heater after two years, making monthly payments. The water heater cost him an average of $1.56 per week in electricity, and $0.78 per week in water. If Carlos’s credit card has an APR of 14.15%, compounded monthly, and he made no other purchases with it, what percentage of the lifetime cost of the water heater was interest? (Round all dollar values to the nearest cent.)
Mathematics
2 answers:
Sergio [31]3 years ago
7 0

Answer:

C. 4.12%

Step-by-step explanation:

n200080 [17]3 years ago
6 0

First we will find the interest on:


P = $235 principal


t = 2 years


r = 0.1415 annual rate


A = future value 


I = A - P the interest


A = P(1 + r)^t


A = 235(1 + 0.1415)^2


A = $306.21


I = A - P


I = $306.21 - $235


I = $71.21


the interest was $71.21.



Next lets find the lifetime cost value:


Lifetime cost value = 306.21 + 5*1.56*52 + 5*0.78*52 = $914.61 (considering that 1 year = 52 weeks)



Now lets find the percentage what percentage the interest is of the lifetime cost:


(71.21/914.61)*100 = 7.79%

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Nostrana [21]

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Step-by-step explanation:

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8 0
3 years ago
The graph represents the cost of a subscription to a newspaper. A coordinate plane showing Ferry Ride Cost with Number of Person
allochka39001 [22]

Answer:

The constant of variation is $1.50

Step-by-step explanation:

Given

Point 1 (1,2)

Point 2 (5,8)

Required

Constant of Variation

Though the graph would have assisted in answering the question; its unavailability doesn't mean the question cannot be solved.

Having said that,

the constant variation can be solved by calculating the gradient of the graph;

The gradient is often represented by m and is calculated as thus

m = \frac{y_2 - y_1}{x_2 - x_1}

Where

(x_1, y_1) = (1,2)\\(x_2, y_2) = (5,8)

By substituting values for x1,x2,y1 and y2; the gradient becomes

m = \frac{8 - 2}{5 - 1}

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m = 1.50

Hence, the constant of variation is $1.50

7 0
3 years ago
Read 2 more answers
Jeremiah work 5 days a week.if he earned $225 a day, how much does he earn per day?
Naddika [18.5K]
Uh do you mean he earned $225 per week?
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7 0
3 years ago
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natali 33 [55]

Answer:

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5 0
3 years ago
What percent of 126 is 22?
LenaWriter [7]
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Change the decimal into a percentage by multiplying the decimal by 100:
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3 years ago
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