Answer:
3,399.00
Step-by-step explanation:
According of the market value of a car model (check the attached picture), the market value of car is 20% of its original value after 5 years.
We know from our problem that the original cost of the car is $16,995, so we need to find the 20% of that original cost to find the current market value of the car.
current market value = 20% of $16,995
We need to convert the percentage to decimal so we can multiply the two and find the current value. To do it we just need to divide the percentage by 100%:
(20%)/(100%) =
current market value = (0.2)($16,995)
current market value = $3,399
We can conclude that the current market value of the car after 5 years is 3,399.00
Solution:- Answer is 19.33%
Annual percentage rate (APR) is the yearly rate for a price which have to pay for borrowing money through credit card.
Here Caleb has an offer from a credit card issue for i=0% APR for the first 30 days.
now, effective interest rate for n= 30 days
=
After 30 days APR =17.68%=0.1768
n=365-30=335 days
now the effective interest rate for n=335 days
=
=19.33%
So the effective interest rate for 365 days =0+19.33% =19.33%
So fourth option is correct.