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Serhud [2]
3 years ago
14

You purchase a new motor scooter for $3,350. You put a 10% down payment and $108.08 per month on a 36 month purchase plan. Use t

he APR formula to determine the annual percentage rate to a tenth of a percent. a. 17.3% c. 16.6% b. 17.5% d. 16.7%
Mathematics
1 answer:
nevsk [136]3 years ago
7 0
Use the formula of the present value of annuity ordinary through GoogleWhat you have here is a loan payment of $108.08 with a present value of $3015 (the $3350 minus the 10% down payment) and a future value of zero with monthly compounding over 36 months
I got
R=0.173906
R=17.3%
 good luck
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algol13

Answer:

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Step-by-step explanation:

To solve this problem you must find the hourly rate she earns at the Smiths.  This will allow you to compare to the hourly rate that is given for the Nelsons.  To find the Smiths hourly rate divide $39 by the 6 hours she babysat there.  This will have the hourly rate.  39/6=6.5.  This means she earns $6.50 an hour for the Smiths.  When comparing the rates it is clear that she earned 25 cents more at the Smiths.

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