Rodrigo buys a jacket that is on sale for 1/4 off of the original price of 80$. he has a coupon for an additional 10% off. how m
2 answers:
Answer:
Rodrigo pays $54.00 for the jacket
Step-by-step explanation:
The original price of the jacket = $80.00
Rodrigo buys the jacket that is on sale for off of the original price.
Discount on the jacket = × 80.00 = $20.00
Price after discount = 80.00 - 20.00 = $60.00
Rodrigo has a coupon for an additional 10% off.
The price after redeeming the coupon = 10% × 60.00 = 0.10 × 60 = $6.00
Rodrigo have to pay = 60 - 6 = $54.00
Rodrigo pays $54.00 for the jacket.
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This question can be approached using the present value of annuity formula. The present value of annuity is given by 
, where: PV is the present value/amount of the loan, P is the periodic (monthly in this case) payment, r is the APR, t is the number of payments in one year and n is the number of years.
Given that the<span> financing is for a new road bike of $2,500 and that the bike shop offers a 13.5% APR for a 24 month loan.
Thus, PV = $2,500; r = 13.5% = 0.135; t = 12 payments (since payment is made monthly); n = 2 years (i.e. 24 months)
Thus,
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Therefore, his monthly payment is $119.44</span>
Given that the<span> financing is for a new road bike of $2,500 and that the bike shop offers a 13.5% APR for a 24 month loan.
Thus, PV = $2,500; r = 13.5% = 0.135; t = 12 payments (since payment is made monthly); n = 2 years (i.e. 24 months)
Thus,
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Therefore, his monthly payment is $119.44</span>