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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 %

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Answer:

The answer is

1.    27.659

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Step-by-step explanation:

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I really hope this helps

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2 years ago
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A worker earns $100 every 8 hours. At this rate, how much will the worker earn in 36 hours?
patriot [66]

Answer:

The answer is $350

Step-by-step explanation:

00 = 8 hours


28/8 = 3.5


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4 years ago
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meriva

Step-by-step explanation:

Answer 3

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1/4×-20

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3 years ago
A man flies a kite at a height of 15 ft. The wind is carrying the kite horizontally from the man at a rate of 5 ft./s. How fast
Misha Larkins [42]

Answer:

4.4 ft/s

Step-by-step explanation:

Height = 15ft

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h = √ 1025 - 225

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D = √15^2 + h^2

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= h(225 + h^2)^-1/2 dh/dt

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4 years ago
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