A car dealership earns a portion of its profit on the accessories sold with a car. The dealer sold a Toyota Camry loaded with ac
2 answers:
Answer:
y = 2666.67
Step-by-step explanation:
Well to solve this we can make a system of equations.
x = cost of car alone
y = cost of accesories,
So now we plug in 8y for x in x + y = 24000.
(8y) + y = 24000
9y = 24000
Divide both sides by 9
y = 2666.666666
or 2666.67 rounded to the nearest hundredth.
Now that we have y we can plug that in for y in x=8y.
x = 8(2.666.67)
x = 21,333.33 rounded to the nearest hundredth.
<em>Thus,</em>
<em>accessories "y" cost around 2666.67.</em>
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<em>Hope this helps :)</em>
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From Days 1 - 5 :
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That's $200 x 5 days = $1000
From Days 6 - 20 :
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Day 7 = $350
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That's $350 x 15 days = $5250
From Days 21 - 30 :
Day 21 = $150
Day 22 = $150
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Day 30 = $150
That's $150 x 10 days = $1500
A total of :
$1000 + $5250 + $1500 = $7750
Now divide this total to the number of days to get the ADB or Average Daily Balance.
Next Step is to calculate for the finance charge using the formula :
where ADB is the average daily balance
r is the interest rate per day
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From the problem, APR is 15.5%, it means that we need to divide the APR by 365 days.
So r = 0.155/365 = 0.000425
And we have d = 30 days
The charge will be :
Charge = 258.33 x 0.000425 x 30 = $3.29
The answer is $3.29