Solution:
1. Cost of a new Violin that is bought by the musician = $ 2900
Monthly interest charge = 3.35 %
If you will find the compound interest or simple interest for a month, they both will be same for a month.
Simple interest =


Interest paid at the end of first month = $ 97.15
2. Loan Amount = $ 3,500
Annual interest = 8 %
Time period = 2 years= 24 months
As , we have to find the total payback for two years, at 8% annual interest with monthly payments .we will use the formula of Amount in terms of compound interest here.
Formula for Amount
Amount= ![Principal (1 +\frac{Rate}{100})^{time}]](https://tex.z-dn.net/?f=Principal%20%281%20%2B%5Cfrac%7BRate%7D%7B100%7D%29%5E%7Btime%7D%5D)
![=3500 \times [(1+\frac{8}{1200})^{24}]\\\\ = 3500 \times [(1.0066)^{24}]\\\\= 3500 \times 1.1710 \\\\ =4098.58](https://tex.z-dn.net/?f=%3D3500%20%5Ctimes%20%5B%281%2B%5Cfrac%7B8%7D%7B1200%7D%29%5E%7B24%7D%5D%5C%5C%5C%5C%20%3D%203500%20%5Ctimes%20%5B%281.0066%29%5E%7B24%7D%5D%5C%5C%5C%5C%3D%203500%20%5Ctimes%20%201.1710%20%5C%5C%5C%5C%20%3D4098.58)
Total payback after 2 years = $ 4098.58
81,936 is your answer I think
The y values need to be on the top so it would be -2-8 over -4-3 so the answer would be 10/7
Answer:
Mr. Lee takes home 9 kg of chocolate.
Mrs. Scarlet takes home 6kg of chocolate.
Step-by-step explanation:
Mr. Lee has a family of 6 people, and Mrs. Scarlett has a family of 4 people.
Together, the total number of people is 6 + 4 = 10
If we divide evenly the chocolate between all 10, then each one gets the same amount.
Then we need to do the quotient:
15kg/10 = 1.5kg
This means that each person gets 1.5kg of chocolate.
And Mr. Lee has 6 on his family, then the amount of chocolate that Mr. Lee takes home is 6 times 1.5 kg
6*1.5kg = 9kg
Mr. Lee takes home 9 kg of chocolate.
Mrs. Scarlett has a family of 4 people, then she takes home 4 times 1.5kg of chocolate, this is:
4*1.5kg = 6kg
Mrs. Scarlet takes home 6kg of chocolate.