We are NOT told 1) the finance charge and 2) the amount of time
<span>
<span>
19,850.00
<span>
Car Price
+1,488.75 Sales Tax
</span>
<span>
</span><span> -1,000.00
Down Payment
</span>
20,338.75
</span>
</span>
This is the amount being financed
Using a loan calculator http://www.1728.org/calcloan.htm
We see that if the loan is for 9.382% and it is for 5 years,
Then the monthly payment is $425.98
We will make 60 (12 months * 5) monthly payments resulting in a total loan cost of 425.98 * 60 =
<span>
<span>
25,558.80
</span>
</span>
Total Loan Cost
-20,338.75 Money Being Financed
5,220.05 Five Year's Interest
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THIS ISN'T EXACTLY RIGHT - SCROLL TO THE BOTTOM
So, 5,220.05 / 60 = Interest Paid each month.
= $87.00
So,
425.98
-87.00
<span>
<span>
338.98
</span>
</span>
Each month goes toward the principal.
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Although, the monthly payment remains exactly the same each month, the amount going toward interest and the amount going to equity (what you own), changes drastically each month.
See the mortgage calculator
http://www.1728.org/mortmnts.htm
So, your first payment, of 452.98 pays for $159.02 in interest and $266.95 in principal.
9514 1404 393
Answer:
c = 150p + 1000
Step-by-step explanation:
We know the variable cost is 150 per phone, so the total cost will be ...
c = 150p +b . . . . for some value b
We also know the value of c for 8 phones, so we can find b:
2200 = 150(8) + b
2200 -1200 = b = 1000
Then the desired equation is ...
c = 150p + 1000
Answer:
5 minutes
Step-by-step explanation:
Do a proportion
440/75= 1760/x
cross multiply
440x=1760(75)
simplify
132000/440
The total amount paid in monthly payments is found by multiplying $70 by 10. This is the only information that is needed to find the amount paid over 10 months.
70 x 10 = $700
Ennifer will pay $700 in monthly payments.
Answer:
radius is 8cm
Step-by-step explanation: radius is half of diameter so 16/2= 8
