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Vinil7 [7]
3 years ago
7

Find the difference between the cash price and the payment plan and calculate the interest rate for the following questions.

Mathematics
1 answer:
vagabundo [1.1K]3 years ago
5 0

Answer:

1).

Difference = $6

Interest rate= 4.03%

2).diffrence = $97

Interest rate = 14.37%

3). Difference = $7

Interest rate= 4.67%

4). difference= 191

Interest rate= 9.6%

5). Difference= 2.25

Interest rate= 3%

6). Difference=$ 302

Interest rate=9.12%

Step-by-step explanation:

1).$10 per months for 15 months

= 10*15=$150

PLus a down payment of $5= $155

Interest = 155-149= $6

Interest rate = 6/149*100= 4.03%

2.)$120.00 per month for 6 months

= 120*6=$ 720

Plus a down payment of $52=$772

Interest= 772-675= $97

Interest rate = 97/675 *100= 14.37%

3). $12.00 per month for 11 months

= 12*11= 132 plus down payment of $25

= $157

Interest= 157-150= $7

Interest rate=7/150 *100= 4.67%

4).$74.00 per month for 24 months

= 74*24=$1776

Plus a down payment of $400=$ 2176

Interest= 2176-1985= 191

Interest rate= 191/1985*100= 9.6%

5).$4.75 per week for 11 weeks

= 4.75*11=$52.25

Plus a down payment if $25

= 25+52.25=$ 77.25

Interest= 77.25-75= 2.25

Interest rate= 2.25/75 *100= 3%

6).$300 a month for 10 months

= 300*10= $3000

Plus a down payment of $600

= $3600

Interest=3600-3298= 302

Interest rate= 302/3298 *100=9.12%

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scoray [572]

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Answer:

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  • 20 spoons

Step-by-step explanation:

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The cost of materials is ...

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The revenue from sales is ...

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You can solve these by any of your favorite methods. A graph is attached. It shows the solution is (x, y) = (7, 20).

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<em>Additional working out</em>

The equation coefficients are not "nice" multiples of each other, so elimination  and substitution will require multiplying both equations by some numbers. If we're going to that trouble, we may as well use Cramer's Rule or a variation of the "cross multiplication method". The latter is relatively straightforward and can be easy to remember. It tells you the solution to ...

  ax +by +c = 0

  dx +ey +g = 0

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  1/(ae-db) = x/(bg-ey) = y/(cd-ga)

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  1/1.9 = x/13.3 = y/38

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The above solution formula may be more easily remembered in terms of the cross-multiplication pattern that gives the method its name. When the coefficients are written in two rows of four, with the last being a repeat of the first:

  • a b c a
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each of the three denominators (of 1, x, and y) is the difference of products in adjacent columns, formed in an X fashion: ae-db, bg-ec, cd-ga. Note that the equations are written in "general" form, which is similar to "standard" form, but with all of the non-zero terms on the left of the equal sign. (This has the effect of changing the sign of the constants: 1.7x+1.3y=37.9 ⇒ 1.7x+1.3y-37.9=0)

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