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Mkey [24]
3 years ago
10

I need help? someone please explain to me

Mathematics
1 answer:
murzikaleks [220]3 years ago
7 0

Answer:

Step-by-step explanation:

add me on instgram @mack.thrasher

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Carlos bought a $235 water heater with his credit card. He used the water heater for five years before replacing it. He paid off
Mazyrski [523]

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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