It's in expanded form, so you add each part (thousands, hundreds, tens, and ones) separately. the hundreds is missing. looking at the number, it is 900.
now, there are 12 months in a year, so 18 months is really 18/12 of a year, thus
![~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill & \$4000\\ P=\textit{original amount deposited}\\ r=rate\to 5\%\to \frac{5}{100}\dotfill &0.05\\ t=years\to \frac{18}{12}\dotfill &\frac{3}{2} \end{cases} \\\\\\ 4000=P[1+(0.05)(\frac{3}{2})]\implies 4000=P(1.075) \\\\\\ \cfrac{4000}{1.075}=P\implies 3720.93\approx P](https://tex.z-dn.net/?f=~~~~~~%20%5Ctextit%7BSimple%20Interest%20Earned%20Amount%7D%20%5C%5C%5C%5C%20A%3DP%281%2Brt%29%5Cqquad%20%5Cbegin%7Bcases%7D%20A%3D%5Ctextit%7Baccumulated%20amount%7D%5Cdotfill%20%26%20%5C%244000%5C%5C%20P%3D%5Ctextit%7Boriginal%20amount%20deposited%7D%5C%5C%20r%3Drate%5Cto%205%5C%25%5Cto%20%5Cfrac%7B5%7D%7B100%7D%5Cdotfill%20%260.05%5C%5C%20t%3Dyears%5Cto%20%5Cfrac%7B18%7D%7B12%7D%5Cdotfill%20%26%5Cfrac%7B3%7D%7B2%7D%20%5Cend%7Bcases%7D%20%5C%5C%5C%5C%5C%5C%204000%3DP%5B1%2B%280.05%29%28%5Cfrac%7B3%7D%7B2%7D%29%5D%5Cimplies%204000%3DP%281.075%29%20%5C%5C%5C%5C%5C%5C%20%5Ccfrac%7B4000%7D%7B1.075%7D%3DP%5Cimplies%203720.93%5Capprox%20P)
We are NOT told 1) the finance charge and 2) the amount of time
<span>
<span>
19,850.00
<span>
Car Price
+1,488.75 Sales Tax
</span>
<span>
</span><span> -1,000.00
Down Payment
</span>
20,338.75
</span>
</span>
This is the amount being financed
Using a loan calculator http://www.1728.org/calcloan.htm
We see that if the loan is for 9.382% and it is for 5 years,
Then the monthly payment is $425.98
We will make 60 (12 months * 5) monthly payments resulting in a total loan cost of 425.98 * 60 =
<span>
<span>
25,558.80
</span>
</span>
Total Loan Cost
-20,338.75 Money Being Financed
5,220.05 Five Year's Interest
********************************************************************
THIS ISN'T EXACTLY RIGHT - SCROLL TO THE BOTTOM
So, 5,220.05 / 60 = Interest Paid each month.
= $87.00
So,
425.98
-87.00
<span>
<span>
338.98
</span>
</span>
Each month goes toward the principal.
******************************************************************************************
Although, the monthly payment remains exactly the same each month, the amount going toward interest and the amount going to equity (what you own), changes drastically each month.
See the mortgage calculator
http://www.1728.org/mortmnts.htm
So, your first payment, of 452.98 pays for $159.02 in interest and $266.95 in principal.
Answer:
0
Step-by-step explanation:
This deals with simplification or other simple results.
A jar of jelly beans contains 50 red gumballs , 45 yellow gumballs, and 30 green gumballs. You reach into the jar and randomly
select a jelly bean, then select another without
putting the first jelly bean back. What is the
probability that you draw two red jelly beans? This is Dependent because you didnt put the other jelly bean in thus changing the total nmber of jelly beans.
A jar of jelly beans contains 50 red gumballs<span> , 45 yellow gumballs, and 30 green gumballs. You reach into the jar and randomly select a jelly bean, then select another while replacing the first jelly bean back. What is the probability that you draw two red jelly beans? This is Independent because you put the other jelly bean in thus keeping the total number of jelly beans.</span>
