The formula m = (12,000 + 12,000rt)/12t gives Keri's monthly loan payment, where r is the annual interest rate and t is the length of the loan, in years. Keri decides that she can afford, at most, a $275 monthly car payment. Give an example of an interest rate greater than 0% and a loan length that would result in a car payment Keri could afford. Provide support for your answer.

Answer: Let us assume an annual interest rate (r) = 10% = 0.1. The maximum monthly payment (m) Keri can afford is $275. i.e. m ≤ $275. Using the monthly loan payment formula, we can calculate a loan length that would result in a car payment Keri could afford.

$m=\frac{12000+12000rt}{12t}\\ but\ m\leq275, \ and \ r=10\%=0.1\\275= \frac{12000+12000(0.1)t}{12t}\\275= \frac{12000}{12t} +\frac{12000(0.1)}{12t}\\275= \frac{1000}{t} + 100\\275-100= \frac{1000}{t} \\175= \frac{1000}{t} \\175t = 1000\\t= \frac{1000}{175}\\ t=5.72\ years$

The loan must be at least for 5.72 years for an annual interest rate (r) of 10%

3 0

3 years ago

Need help w this plz:(

steposvetlana [31]

Answer:

cant see i am dumb

Step-by-step explanation:

and blind i cant see at all my gide dog wrote dis woof woof

8 0

3 years ago

Aye plz help. Im abt to die. Find the perimiter of the shape below.

Law Incorporation [45]

Answer:

Step-by-step explanation:

Add all the sides together which is 40

4 0

3 years ago

Q and R are not mutually exclusive events. p (q) = 3/5 p(r) = 1/3 and p ( q and r)= 1/5 find P(Q or R).

V125BC [204]

Recall the inclusion/exclusion principle:

$\mathbb P(Q\cup R)=\mathbb P(Q)+\mathbb P(R)-\mathbb P(Q\cap R)$

which means

$\mathbb P(Q\text{ or }R)=\dfrac35+\dfrac13-\dfrac15=\dfrac{11}{15}$

5 0

3 years ago