1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Genrish500 [490]
3 years ago
5

It's time for another financial calculator problem. A UCF student (who has not taken FIN 2100) decides that he really needs a la

rge screen HD TV for football season. The student goes to a "rent to own" center and agrees to rent a TV for $60 per month (end of month). After 36 months, the student will own the TV. Assuming that the student could buy the same TV today for $1,000, what is the interest rate (APR) of renting the TV?
Mathematics
1 answer:
AysviL [449]3 years ago
5 0

Answer:

interest rate is 38.68 %

Step-by-step explanation:

Given data

installment = $60

time = 36 months = 36/12 = 3 years

principal = $1000

to find out

interest rate

Solution

we know student pay $60 for 36 months

so he pay total = 60 × 36 = 2160

total amount pay by student = $ 2160

so we can find interest rate by given formula

rate = (1/time)(amount/Principal - 1)

put the value time amount and principal here

rate = (1/3)(2160/1000 - 1)

rate = 0.386667

interest rate is 38.68 %

You might be interested in
How do you solve this problem
NNADVOKAT [17]
Answer is 9 root3
this is because it is one of the special triangle: with special ration of 2x:root3x:1x
you could plug values into the sin formula as well.

9 cm is the smallest length since it is across from the 30° angle. so there fore 9 is 1x
x is 9.

root3x = 9root3
4 0
3 years ago
Read 2 more answers
Answer parts A and B- If you give a full explanation I will give brainliest, 5 stars, and thanks! Do your work on a piece of pap
DaniilM [7]
.5 is the answer
So do 7-6 first.
It will look like this.
1/2c=1
Then divide 1/2 from 1
So 1/1/2 is .5
7 0
3 years ago
Hayley eats oatmeal for
Vikentia [17]

Answer:

1 cup

Step-by-step explanation:

1/5 + 4/5 = 5/5 = 1 cup

3 0
3 years ago
Your company recently made a purchase of 25 identical tables. The purchase price after adding 5% sales tax was $1,706.25. You la
RUDIKE [14]

You'll be paying less for the tables because you're ordering fewer tables: 20 instead of 25.


Find the unit, after-tax price of a table:


$1,706.25

--------------- = $68.25 per table

25


Then, the total that must be paid to purchase 20 tables is


20($68.25/table) = $1,365




8 0
3 years ago
1. Which number does NOT represent a whole number
scZoUnD [109]
1.d 2 could be d but I’m not sure.
7 0
3 years ago
Read 2 more answers
Other questions:
  • If x,y and z are positive integers and 3x=4y=7z,
    12·1 answer
  • Simplify using positive exponents only (2x^3y^3)^-2(4^-1x^5y^-2)^2
    5·1 answer
  • (-5)2 - 2 x (-9) + 6​
    12·1 answer
  • Does anyone know the correct answer?
    14·1 answer
  • A group of 39 ladies is going to a
    13·2 answers
  • Complete the sentences below the radius of a circle is _____ the length of its diameter. the diameter of a circle is ______ the
    9·1 answer
  • Your mom opens an account to save money for a family vacation. The account earns an annual interest rate of 4%. She earns $37 in
    15·1 answer
  • An arithmetic sequence with a third term of 8 and constant difference of 5
    12·1 answer
  • What is the value of a?<br> 5 units<br> 5 1/3units<br> 6 2/3units<br> 7 units
    11·1 answer
  • To make 5 blueberry pies,Mindy needs about 2 pounds of blueberries. How many pounds of blueberries does Mindy need to make 20 bl
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!