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alexira [117]
4 years ago
9

Jackson purchased some power tools totaling $1,543 using a six month deferred payment plan with an interest rate of 23.76%. He d

id not make any payments during the deferment period. What will the total cost of the power tools set be if he must pay off the power tools within two years after the deferment period?
$1,543.00
$1,735.63
$2,197.44
$2,746.80
Mathematics
1 answer:
skad [1K]4 years ago
4 0
Suppose he makes the payment with two equal annual instalments, the present value of the amount he is owing is $1,543 , the interest rate is 23.76% = 0.2376.

The amount of payment he makes in two of the periodic payments is given by:

PV = P\left( \frac{1-(1+r)^{-n}}{r} \right) \\  \\ \Rightarrow1,543=P\left( \frac{1-(1+0.2376)^{-2}}{0.2376} \right) \\  \\ =P\left( \frac{1-(1.2376)^{-2}}{0.2376} \right)=P\left( \frac{1-0.6529}{0.2376} \right) \\  \\ =P\left( \frac{0.3471}{0.2376} \right)=1.4609P \\  \\ \Rightarrow P= \frac{1,543}{1.4609} =1,056.20

Therefore, in 2 years, the amount he has paid for the tools is 2(1,056.20) = 2,112.40
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Explanation:

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If a chord degenerates to zero length, the ray it represents with respect to an inscribed angle becomes a tangent. That is, angles BCD and ECD can also be considered to be inscribed angles. Similarly, straight angle DFG at tangent point F can be considered to be a degenerate case of both an inscribed angle and a circumscribed angle. (Some authors may not include degenerate cases in their definitions. YMMV)

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3. Again refer to the attached diagram.

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torisob [31]

Answer:

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Step-by-step exp

it is the best answer

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