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
Romashka-Z-Leto [24]
3 years ago
14

Sue Stitch buys a sewing machine. The price, including tax, is $575.00. She finances the sewing machine over 24 months after mak

ing a $25 down payment. The true annual interest rate is 15%. What are Sue's monthly payments (principal plus interest)?
To the nearest penny, c = $

Total of payments = amount financed + c = $

Total of payments ÷ number of payments = monthly payment = $
Mathematics
2 answers:
ikadub [295]3 years ago
5 0
Hi there!

To the nearest penny, c = $85.94.

Total of payments = amount financed + c = $635.94.

Total of payments ÷ number of payments = monthly payment = $26.50

Your friend, ASIAX
Step2247 [10]3 years ago
3 0

Answer:

c = $85.94

Total payment = $635.94

Total payment ÷ Number of payment = $26.5.

Step-by-step explanation:

We are given that,

The tax on the machine = $575 with down payment = $25. Also, the rate of interest = 15% i.e. 0.15 and time period = 24 months.

Now, the principal amount = tax - down payment = $575 - $25 = $550.

Then, the monthly payment by the annuity formula is given by,

c=\frac{r \times PV}{1-(1+r)^{-n} }

i.e. c=\frac{0.15 \times 550}{1-(1+0.15)^{-24} }

i.e. c=\frac{82.5}{1-(1.15)^{-24} }

i.e. c=\frac{82.5}{1-0.035 }

i.e. c=\frac{82.5}{0.965}

i.e. c=85.94

Hence, c = $85.94

Thus, total payment = amount financed + c = $550 + $85.94 = $635.94.

So, Total payment ÷ Number of payment = \frac{635.94}{24} = $26.5.

You might be interested in
Felix Carson is employed at a high school. He has family medical coverage through the school's
Lady bird [3.3K]

Answer:

$56.77 each week

Step-by-step explanation:

He pays for 30% of 9867 per year.

9867*0.3=2960.1

Divide the answer by number of weeks in a year.

= $56.7689

Round.

4 0
3 years ago
a monument casts a 40-foot shadow. Adam is 6 feet tall and casts a 5-foot shadow. How tall is the monument
Stolb23 [73]
This is a proportion problem. Let the monument me x feet tall.
40/x=5/6
Cross multiply:
240=5x
x=48 ft.
So the monument is 48 ft tall,  
4 0
3 years ago
Read 2 more answers
Find the value of the second term in this sequence. 34, ____ , 84, 109, 134
prohojiy [21]
D = 109 - 84 = 134 - 109 = 25
2nd term = 34 + 25 = 59
8 0
3 years ago
Choose the correct answer to classify each equation or situation below as exponential growth or decay.
inn [45]

Answer:

Exponential Decay

Step-by-step explanation:

Because 7/8 is less than 1, it is exponential decay

5 0
3 years ago
Maria walks 2 laps in 5 minutes and then runs 2 laps in 3 minutes. If she continues to alternate walking and running at the same
iragen [17]

Answer:

8 laps

Step-by-step explanation:

every 8mins 4 laps are run

3 0
2 years ago
Other questions:
  • A car moves at a constant speed of 50 miles per hour. How long does it take the car to go 200 miles?
    7·1 answer
  • giles is searching for a sock and discovers that he has 10 socks for every 5 pairs of shoes. if he has 20 socks how many pair of
    8·1 answer
  • How many solutions does each equation have?
    6·1 answer
  • A plane is flying at 32,500 feet. It needs to rise to 36,000 feet in two stages.
    11·1 answer
  • What does 0 = 0 indicate about the solutions of the system?
    7·1 answer
  • Help lol I'm so unsmart​
    15·2 answers
  • Un vendedor de frutas tiene cierto número de mangos, vende 3/5 de ellos más dos mangos; luego vende 1/3 de los restantes más dos
    13·1 answer
  • (15y+27)
    13·1 answer
  • In Algebra you learned that Difference of Perfect Squares is x^2 - 25 = (x+5)(x-5)
    14·1 answer
  • What is the square root of 82
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!