Answer:
k=2
Step-by-step explanation:
4.05x+5.25(149-x)=710.25
Solve for x
X=60 ........4.05
149-60=89.....5.25
1. Using "exact" interest, your charge will be
.. I = Prt
.. I = $855.28*0.154*(31/365)
.. I = $11.19
2. It will take 52.01 months to pay off the loan.
3. Your payment on 15,250 for 4 years will be $363.41. The effective interest rate that payment represents on a loan of $15,000 is 7.604%
4. Todd's monthly payments will be $409.06, so his total outlay will be
.. tax+license + down payment + loan repayment
.. = 1200 +1000 +48*409.06
.. ≈ $21,835
Solve for x, like I did, then plug it in the equation for UV.
So,
(2x12) - 22 = UV
24-22 = UV
UV = 2