A) The amount financed is the purchase amount less the down payment.
$2,574.54 -574.54 = $2000.00
B) The finance charge is the total of payments less the amount financed.
18*$121.00 -2000.00 = $178.00
C) The APR is calculated by a financial calculator to be 10.96%.
-5/8c = 20....multiply both sides by -8/5 (this cancels out the -5/8 on the left
c = 20(-8/5)
c = -160/5
c = - 32
check..
-5/8(-32) = 20
160/8 = 20
20 = 20 (correct)
so c = -32
Answer:
Answer is in pictures
Step-by-step explanation:
36=6x6 90=9x10
256+7=263 104=98+6-2
678=678 81+9=90
Answer:
4 and 3
Step-by-step explanation:
To find the future value of this investment the formula is
A=p (1+r/k)^kt
A future value?
P present value 1000
R interest rate 0.07
K compounded monthly 12
T time 2 years
A=1,000×(1+0.07÷12)^(12×2)
A=1,149.81