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
MakcuM [25]
2 years ago
7

A vehicle is purchased for $18,000, with a down payment of $6,098. The balance in financed for three years at an annual rate of

7%. Find the monthly car payment.
$367.50

$834.12

$188.29

$555.79
Mathematics
1 answer:
mestny [16]2 years ago
7 0
The Present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt)/(r/t)
where: P is the monthly payment, r is the annual rate = 7% = 0.07, t is the number of periods in one year = 12 and n is the number of years = 3.

18,000 - 6,098 = P(1 - (1 + 0.07/12)^-(3 x 12)) / (0.07/12)
11,902 = P(1 - (1 + 0.07/12)^-36) / (0.07/12)
P = 0.07(11,902) / 12(1 - (1 + 0.07/12)^-36) = 367.50

Therefore, monthly payment = $367.50
You might be interested in
Solve on y: 3y+5/2y+1 = 2/6​
Vedmedyk [2.9K]

Answer:

y = 4

Step-by-step explanation:

Move all terms containing y to the left, all other terms to the right. Add '-2y' to each side of the equation.

-5 + 3y + -2y = -1 + 2y + -2y

Combine like terms: 3y + -2y = 1y

-5 + 1y = -1 + 2y + -2y

Combine like terms: 2y + -2y = 0

-5 + 1y = -1 + 0

-5 + 1y = -1

Add '5' to each side of the equation.

-5 + 5 + 1y = -1 + 5

Combine like terms: -5 + 5 = 0

0 + 1y = -1 + 5

1y = -1 + 5

Combine like terms: -1 + 5 = 4

1y = 4

Divide each side by '1'.

y = 4

Simplifying

y = 4

4 0
2 years ago
Point Q is the centroid of △ABC. QE = _____
pychu [463]
That’s the answer to your question.

7 0
2 years ago
James bought a plant that was 3 inches tall. Each week the plant
sattari [20]

Answer:

1.5 inches/ week

Step-by-step explanation

Given

Height of he plant = 3in

If the plant grows by 2in every week

The rate of change = Height of plant/weekly increase

The rate of change = 3/2 = 1.5 inches/ week

6 0
3 years ago
Which must be true?<br> OAN LB<br> O NCBZ<br> O ZBMZ = 2CMZ<br> O ZZBM = ZZCM
andrew11 [14]

Answer:

your answer to your question is an lb

3 0
2 years ago
Two car washers, Michelle and Nancy, are working on your car. Michelle can complete the work in 6 hours, while Nancy can complet
g100num [7]
Time taken by Michelle to complete the work alone = 6 hours
Time taken by Nancy to complete the work alone = 3 hours
Now, when they both are working on the same job for 1 hour, 
Amount of job completed = (1/6) + (1/3) 
                                         = (1 + 2)/6 
                                         = 3/6 
                                         = 1/2 
So in 1 hours time they both will complete half of the job. Then in 2 hours Michelle and Nancy will complete the total job. I hope the answer has come to your help.
3 0
3 years ago
Read 2 more answers
Other questions:
  • A convex polygon has only the vertices A, B, C, D, and E. What is the sum of the measures of the interior angles of this polygon
    7·1 answer
  • Pls help! will mark brainliest if you can answer correctly
    14·2 answers
  • Need help on the third question. how do i generalise the number of ways to win.(check the attatchment)
    13·1 answer
  • −5 2/3+ 3 1/4+(−7 1/3)
    10·1 answer
  • Which could be the measures of the three angles of an acute triangle? A. 40*, 90*, 50* B. 45*, 45*, 90* C. 25*, 25*, 130* D. 70*
    14·1 answer
  • What is the next fraction in each of the following patterns? a. 1⁄40, 4⁄40, 9⁄40, 16⁄40, 25⁄40 . . .? b. 3⁄101, 4⁄101, 7⁄101, 11
    5·1 answer
  • 5x + -6 = 7x + 4 what is the value of x??
    5·1 answer
  • If (x+y)^2=125xy,<br>show that, 2 log (x+y) = 3 log 5+log x+ log y​
    7·1 answer
  • 60% of all bald eagles survived their first flight. If 25 randomly selected bald eagles are observed, what is the probability th
    5·1 answer
  • Tom and Jimmy plan to leave at the same time from home and
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!