Which of the following statements is CORRECT?

George bought a car for $26,500. he made no down-payment and financed the entire amount on a 5-year term with a monthly payment

pentagon [3]

Given:
Principal, P = 26500
term=5 years
Monthly payment, A = 695

Question: Find interest rate

Solution:
Unless there is a table available, there is no explicit formula to calculate interest. However, the interest rate can be solved for using the formula to calculate the monthly payment, as follows.

$A=\frac{P(i*(1+i)^{n})}{(1+i)^{n}-1}$
Substituting
P=26500
i=monthly interest rate to be found
A=monthly payment=695
n=5*12=60 months
$A=\frac{26500(i*(1+i)^{60})}{(1+i)^{60}-1}$
Rearrange to give successive estimates of i by
I(i)=(695/26500)*((1+i)^60-1)/(1+i)^60
Try initial estimate of i=0.02 (2% per month)
I(0.02)=0.0182
I(0.0182)=0.01736
I(0.01736)=0.01689
....
Eventually we get the value to stabilize at i=0.016265, or
Monthly interest = 1.6265% (to four decimal places)

4 0

2 years ago

The expenditure approach to GDP is a calculation that separates output by each of the _________ major sectors of an economy.

Troyanec [42]

Answer:

4

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period.

GDP calculated using the expenditure approach: GDP = Consumption spending by households + Government Spending + investment by business + Net Export.

I hope my answer helps you.

8 0

2 years ago

Please help me. I will mark you as brainliest !!

natali 33 [55]

Answer:

The answer is C

Explanation:

Let's say that we have 100 cars unique in the world and each car's value is 10000$. Now, let's say that you have 3 cars like the last ones, 3 cars unique in the world? You won't sell them at 10000$, you have to increase the price because the cars are very rare.

8 0

2 years ago

If an advertiser places a TV commercial using a lonely, lost puppy to sell its products, then that advertiser is said to be ut

ryzh [129]

Answer:

correct answer is Sadvertising

Explanation:

these type of advertiser is said to be Sadvertising because it is that type of advertising by which advertiser creator is use some certain type of strategy by which they play on peoples emotion and feeling of sadness.

nowadays emotional advertising become popular in the recent year,

many firms work for creating strong emotional ties about their product

they think ad. with emotional reaction is viewed more likely to be shared

so here the correct answer is Sadvertising

5 0

2 years ago

Having had no prior knowledge of the market for his product sweater, what approach did Jack McCarthy of Ugly Christmas Sweaters

telo118 [61]

Answer:

When any company wants to sale their product without prior knowledge of the market then it's a disaster.

First thing Jack can do is "Test Marketing". If any company has no knowledge of market then fastest way to know your market is test marketing. Jack must put his sweaters in small quantity for sale at different locations. Test marketing needs to be done for whole week. Jack needs to collect the feedback from its customers too. Feedback is the way jack can know the market. Without knowing the market and customers, it's really hard to market or sale your product. Feedback from test marketing activity will actually give him market knowledge and customer's feedback.

6 0

2 years ago