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
igomit [66]
3 years ago
12

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

the water heater after two years, making monthly payments. The water heater cost him an average of $1.56 per week in electricity, and $0.78 per week in water. If Carlos’s credit card has an APR of 14.15%, compounded monthly, and he made no other purchases with it, what percentage of the lifetime cost of the water heater was interest? (Round all dollar values to the nearest cent.)
Mathematics
1 answer:
Mazyrski [523]3 years ago
3 0

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%

<span>← Previous Problem<span>Next Problem →</span></span>
You might be interested in
Harry picks 133 apples every 7 minutes how many apples would he in 273 minutes
irina [24]
5187 apples to be exact and if you need me to explain why let me know
6 0
3 years ago
Read 2 more answers
The 2nd, 6th, 8th terms of an A.P. form a G.P. , find the common ratio and the general term of the G.P.​
melisa1 [442]

The terms of an arithmetic progression, can form consecutive terms of a geometric progression.

  • The common ratio is: \mathbf{r = \frac{a + 5d}{a + d}}
  • The general term of the GP is: \mathbf{a_n = (a + d) \times (\frac{a + 5d}{a + d})^{n-1}}

The nth term of an AP is:

\mathbf{T_n = a + (n - 1)d}

So, the <em>2nd, 6th and 8th terms </em>of the AP are:

\mathbf{T_2 = a + d}

\mathbf{T_6 = a + 5d}

\mathbf{T_8 = a + 7d}

The <em>first, second and third terms </em>of the GP would be:

\mathbf{a_1 = a + d}

\mathbf{a_2 = a + 5d}

\mathbf{a_3 = a + 7d}

The common ratio (r) is calculated as:

\mathbf{r = \frac{a_2}{a_1}}

This gives

\mathbf{r = \frac{a + 5d}{a + d}}

The nth term of a GP is calculated using:

\mathbf{a_n = a_1r^{n-1}}

So, we have:

\mathbf{a_n = (a + d) \times (\frac{a + 5d}{a + d})^{n-1}}

Read more about arithmetic and geometric progressions at:

brainly.com/question/3927222

6 0
3 years ago
Please help. and Reduce to simpliest form. Thx &lt;3
SCORPION-xisa [38]

Answer:

-11/8

Step-by-step explanation:

-7/8 - 1/2 = -11/8

3 0
3 years ago
3x+(2-4x) step by step​
aleksandrvk [35]

First distribute the invisible 1 to the numbers in the parenthesis.

3x + 2 - 4x

Combine like terms.

-x + 2

3 0
3 years ago
Read 2 more answers
Determine the slope of 3x-4y=12
irakobra [83]

Answer:

3/4

Step-by-step explanation:

the slope is 3/4 and the y intercept is -3 hope this helps (-:

5 0
3 years ago
Read 2 more answers
Other questions:
  • The radius of a circular Frisbee is 9.8 centimeters. Using rounding to the nearest whole number, what is an estimate for the cir
    13·1 answer
  • Henry is playing a new game app where he needs to navigate through a maze without touching the walls. each player stars with 1,0
    14·1 answer
  • Why is it sometimes best to make a phone call or personal contact when conveying sensitive information?
    13·1 answer
  • The double number line below shows the prices for a certain number of jars of peanut butter at a store. Which statement correctl
    15·2 answers
  • There are 20,000 members of a zoo. The percent of
    12·1 answer
  • Someone please help!
    10·1 answer
  • PLEASE HELP THIS IS DUE AT 11!!!!!!!!!!! (-3v+1)+7-(6v+6)=-37<br> A 4<br> B -2<br> C 2<br> D 0
    11·1 answer
  • PLEASE I NEED HELP QUICKLY!!
    13·1 answer
  • Horizontally compress the exponential function f(x)=2^x by a factor of 3
    10·1 answer
  • The purpose of statistical inference is to make estimates or draw conclusions about a.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!