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harina [27]
3 years ago
7

John bought a used truck for $4,500. He made an agreement with the dealer to put $1,500 down and make payments of $350 for the n

ext 10 months. The extra cost paid by taking this deal is equivalent to what actual yearly rate of interest?
A. 3.6%
B. 63%
C. 33%
D. 36%

Please provide an explanation, thanks! :)
Mathematics
1 answer:
musickatia [10]3 years ago
5 0

Answer:

(D) 36%

Step-by-step explanation:

Actual cost of truck = $4500

Down payment = $1500

Money left to be paid = 4500-1500 =  $3000

A = Monthly payments = 350

n = 10

Principal value (P) = 3000

Using formula,

A= \frac{Pr(1+r)^{n}}{(1+r)^{n}-1}

350 =\frac{3000r(1+r)^{10}}{(1+r)^{10}-1}

       = 36% (approx)

Hence (D) is correct.

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Answer:

14

Step-by-step explanation:

2x + y = 20                                                                                     (1)

2x + 3y = 36                                                                                  (2)

(2) - (1) ⇔ (2x - 3y) - (2x + y) = 36 - 20

          ⇔ 2y = 16

          ⇔ y = 8                                                                               (3)

From (3) and (1), we have:

    2x + y = 2x + 8 = 20

⇔ 2x = 12

⇔ x = 6

So: C = x + y = 6 + 8 = 14

Conclusion : C = 14

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Step-by-step explanation:

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andre [41]

Answer:

First brand of antifreeze: 21 gallons

Second brand of antifreeze: 9 gallons

Step-by-step explanation:

Let's call A the amount of  first brand of antifreeze. 20% pure antifreeze

Let's call B the amount of second brand of antifreeze. 70% pure antifreeze

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Then we know that the total amount of mixture will be:

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-0.7A -0.7B = -0.7*30

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               +

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--------------------------------------

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B = 9\ gallons

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3 years ago
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