Does anyone know how to do the problem

Installment Buying TV Town sells a big screen smart HDTV for $600 down and monthly payments of $30 for the next 3 years. If the

VikaD [51]

Answer:

(a). $1465.42

(b). $214.58

Step-by-step explanation:

We have been given that installment Buying TV Town sells a big screen smart HDTV for $600 down and monthly payments of $30 for the next 3 years. The interest rate is 1.25% per month on the unpaid balance.

(a) To find the cost of the TV, we will use monthly payment formula.

$R=\frac{Pi}{1-(1+i)^{-n}}$ , where,

R = Periodic payment,

P = Loan amount,

i = Monthly interest rate in decimal form,

n = Number of total payments.

$n=3\times 12=36$

$1.25\%=\frac{1.25}{100}=0.0125$

$30=\frac{P*0.0125}{1-(1+0.0125)^{-36}}$

$30=\frac{0.0125P}{1-(1.0125)^{-36}}$

$30=\frac{0.0125P}{1-0.6394091578134724264}$

$30=\frac{0.0125P}{0.3605908421865275736}$

$10.817725265595827208=0.0125P$

$0.0125P=10.817725265595827208$

$P=\frac{10.817725265595827208}{0.0125}$

$P=865.41802124766617664$

$P\approx 865.42$

We know that total cost of TV would be equal to down payment plus amount of loan that is:

$865.42+600=1465.42$

Therefore, the total cost of the TV would be $1465.42.

(b). First of all, we need to find total amount paid in 3 years by multiplying amount of each monthly payment by 36 (3 years equal to 36 months).

$\$30\times 36=\$1080$

To find the total amount of interest paid, we will subtract amount of loan from total payment.

$\$1080-\$865.42=\$214.58$

Therefore, the total amount paid in interest would be $214.58.

8 0

3 years ago

What is the correct factored form of x^2+3x-10

GarryVolchara [31]

Answer:

(x-2)(x+5)

Step-by-step explanation:

I have answered ur question

4 0

3 years ago

Read 2 more answers

DOG A dog is leashed to the corner of a house. How much running area does the dog have? Explain how you found your answer.

Eduardwww [97]

Answer:

The area will be $\frac{3\pi r^{2} }{4}$ where r is the length of the leash.

Step-by-step explanation:

The area of a circle is pi times the radius squared. One forth of that area is not available for the dog to run: its the corner of the house. so what's left is 3/4 of the area of the circle. (3/4)πr²

Since the length of the leash is not given in the question, no specific Area can be answered. Once that value is substituted for r, the actual area can be calculated.

7 0

3 years ago

Compare the equation, y = 9x - 4x2, the graph below, and the table below. Which has the steepest rate of change from x = 1 to x

jeka57 [31]

The correct answer to this question is C. equation, –3

The equation is
<span>y = 9x - 4x^2
</span>y = -4x^2 + 9x
y = -x(4x - 9)

The steepest rate of change from x = 1 to x =2

x = -1 ; y = 0
x = 1 ; y = 2
x = 2 ; y = 0
x =3 ; y = -4

So, based from the table show, the steepest rate of change is <span>C. equation, –3</span>

4 0

3 years ago

Can somebody answer my question, I asked one like 1h and 30min ago and no one has answered!

Fiesta28 [93]

What is it? Can you comment the question?

7 0

3 years ago