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
Ten less the quotient If number and 3 is 6
Anastasy [175]

Answer:

Quotient of a number and 3 = x/3

Ten less the quotient of a number and 3 will equal 6

So...

10 - x/3 = 6

    + x/3      +x/3

10 = x/3 +6

-6              - 6

3 × 4=(x/3) × 3

12 = x

5 0
3 years ago
Read 2 more answers
Please help as soon as possible!
AnnZ [28]

Answer:

D

Step-by-step explanation:

The equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

To calculate m use the slope formula

m = ( y₂ - y₁ ) / (x₂ - x₁ )

with (x₁, y₁ ) = (3, 6) and (x₂, y₂ ) = (8, 4)

m = \frac{4-6}{8-3} = - \frac{2}{5}, hence

y = - \frac{2}{5} x + c ← is the partial equation

To find c substitute either of the 2 points into the partial equation

Using (8, 4), then

4 = - \frac{16}{5} + c ⇒ c = 4 + \frac{16}{5} = \frac{36}{5}

y = - \frac{2}{5} x + \frac{36}{5} ← equation of line

6 0
3 years ago
Read 2 more answers
PLEASE HELP!!!!!!!
posledela

90° = complimentary

middle one = is neither

3rd one is supplementary

8 0
2 years ago
What is one benefit of privately issued student loans?
Leona [35]

Answer:

they have lower interest rates and can be paid back with a lower out of pocket cost

Step-by-step explanation:

Student loans are issued as a kind of financial aid that assist students in their quest to acquire higher education. Private student loans are offered by the private-sector lenders. The alternative to this is a Federal loan.

Actually, private student loans are issued at a lower interest rate. Option of a fixed or variable interest rate may be offered on privately issued student loans. This offers a lower out of pocket cost, hence the answer.

6 0
3 years ago
A parachute speed free fall reaches 45 meters per second what is this speed in feet per second at this speed how many feet will
Alla [95]

The speed is:

S = 742.5ft

The distance that the parachutist falls in 5 seconds is:

D = 742.5ft

<h3>How to get the speed in feet per second?</h3>

We know that the speed in free fall is:

S = 45 m/s.

We know that:

1 m = 3.3ft

Then we can rewrite the speed as:

S = 45 m/s = 45 *(3.28ft)/s = 148.5 ft/s

Then, the distance that the parachutist falls during 5 seconds is:

D = S*5s = (148.5 ft/s)*5s = 742.5ft

If you want to learn more about speed:

brainly.com/question/4931057

#SPJ1

7 0
2 years ago
Other questions:
  • The amount of profit, p, you earn by selling knives,k, can be determined by:p=200k-500. A) determine the constraints on profit a
    14·1 answer
  • ASAP please I need help
    10·1 answer
  • Marco starts with a population of 10 bacteria that doubles every day for a number of days, d. He writes the expression 10(2d) to
    15·2 answers
  • To get to the park from her house, Rachel walked 4 kilometers due north and then 3 kilometers due west. On the way back, she cut
    11·1 answer
  • How do you do this step by step?
    13·1 answer
  • Which expression is equal to<br> 5, ?<br> A<br> 542<br> B.<br> 51<br> Cw<br> D.<br> 254
    8·1 answer
  • After I add up all the numbers and divide them what do I do after?
    14·1 answer
  • Order the following units of a capacity families to greatest gallon paint cup quart
    8·1 answer
  • The booster club sold 36,276 tickets on Friday, 34,012 tickets on Saturday, and 29,879 tickets on Sunday. If you were going to f
    8·2 answers
  • your family's resturant bill was $38.55. your parents are leaving a 20% tip. how much is the grand total of your resturant bill?
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!