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maxonik [38]
3 years ago
15

Chris and John are buying the same car, a 2014 Nissan Maxima. Chris is financially responsible, has a great credit score, a 3% i

nterest rate, and $4,000 down payment. John has had financial struggles and is approved with a 12% interest rate if he pays $5000 down payment. How much more will John pay for the car if it costs $22,500? They will both finance for 5 years.
Consider the scenario above. Answer the questions. Show your work and explain your process. In your explanation be sure to explain why “it costs more to be poor”.
Mathematics
1 answer:
AleksAgata [21]3 years ago
3 0
Total amount paid by Chris = 4000 + (22500 - 4000)(1 + 0.03)^5 = 4000 + 18500(1.03)^5 = 4000 + 21446.57 = $25446.57

Total amount paid by John = 5000 + (22500 - 5000)(1 + 0.12)^5 = 5000 + 17500(1.12)^5 = 5000 + 30840.98 = $35,840.98

John paid $10,394.41 more than Chris.
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2. Kim is x years old. Jordan is 7 years older than Kim. Four times Jordan’s age is equal to 200. (a) Write an equation that cou
Tomtit [17]
Let, the age of Kim = x
Then, Jordan's age = x + 7

It is given that, 4(x + 7) = 200

a) Equation would be: 4x + 28 = 200

b) Now, 4x = 200 - 28
x = 172/4
x = 43

So, Kim is 43 Years old.

c) Age of Jordan = x + 7
= 43 + 7 = 50

In short, Age of Jordan is 50 Years

Hope this helps!


4 0
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Luba_88 [7]

Answer:

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Step-by-step explanation:

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2 years ago
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Musya8 [376]

Answer: slope is -3/2

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5-(-4)/-2-4 = -3/2

6 0
3 years ago
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