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KonstantinChe [14]
3 years ago
12

I need help understanding no. 1 part c)

Mathematics
1 answer:
VashaNatasha [74]3 years ago
5 0
Well if u add 3,000 +4.77% =3,143.1+4.77%=3,293.02587+4.77%=3,450.10320
is +4.77% intrest is as close as i could caulculate it i makes 3,450.10320
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3 years ago
PLEASE HELPPP I WILL MARK BRAINLIEST
Rina8888 [55]

Answer: they are different the difference is 28

Step-by-step explanation:

6 0
2 years ago
You borrow $5,000 from your parents to purchase a used car. The arrangements of the loan are such that you make payments of $250
AfilCa [17]
Part A:
1st month: Interest payable = 1% of $5,000 = $50.00
Amount paid in first month = $250 + $50.00 = $300
Unpaid balance = $5,000 - $250 = $4,750

2nd month: Interest payable = 1% of $4,750 = $47.50
Amount paid in second month = $250 + $47.50 = $297.50
Unpaid balance = $4,750 - $250 = $4,500

3rd month: Interest payable = 1% of $4,500 = $45.00
Amount paid in third month = $250 + $45.00 = $295.00
Unpaid balance = $4,500 - $250 = $4,250

4th month: Interest payable = 1% of $4,250 = $42.50
Amount paid in fouth month = $250 + $42.50 = $292.50
Unpaid balance = $4,250 - $250 = $4,000

5th month: Interest payable = 1% of $4,000 = $40.00
Amount paid in fifth month = $250 + $40.00 = $290.00
Unpaid balance = $4,000 - $250 = $3,750

6th month: Interest payable = 1% of $3,750 = $37.50
Amount paid in sixth month = $250 + $37.50 = $287.50
Unpaid balance = $3,750 - $250 = $3,500

7th month: Interest payable = 1% of $3,500 = $35.00
Amount paid in seventh month = $250 + $35.00 = $285.00
Unpaid balance = $3,500 - $250 = $3,250

8th month: Interest payable = 1% of $3,250 = $32.50
Amount paid in eighth month = $250 + $32.50 = $282.50
Unpaid balance = $3,250 - $250 = $3,000

9th month: Interest payable = 1% of $3,000 = $30.00
Amount paid in ninth month = $250 + $30.00 = $280.00
Unpaid balance = $3,000 - $250 = $2,750

10th month: Interest payable = 1% of $2,750 = $27.50
Amount paid in fouth month = $250 + $27.50 = $277.50
Unpaid balance = $2,750 - $250 = $2,500

11th month: Interest payable = 1% of $2,500 = $25.00
Amount paid in seventh month = $250 + $25.00 = $275.00
Unpaid balance = $2,500 - $250 = $2,250

12th month: Interest payable = 1% of $2,250 = $22.50
Amount paid in eighth month = $250 + $22.50 = $272.50
Unpaid balance = $2,250 - $250 = $2,000



Part B:
Number of payments = 5000 / 250 = 20
Total amount of interest = 50 + 47.5 + 45 + . . . + upto the 20th payment.
This is an arithmetic sequence with the first term as 50, common difference as -2.5 and number of terms = 20.

Sum of the first 20th term of the GP is given by
S_n= \frac{20}{2}[2(50)+(20-1)(-2.5)] \\  \\ =10(100-2.5(19))=10(100-47.5) \\  \\ =10(52.5)=\$525.00

Therefore, the <span>total amount of interest paid over the term of the loan is $525.00</span>
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3 years ago
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irakobra [83]

Answer:

D

Step-by-step explanation:

7 0
3 years ago
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