1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sertanlavr [38]
2 years ago
9

A dealer offers a $35,000 car with a downpayment of $3,000 and 65 easy monthly payments of $539.99. How much monthly interest ra

te is he charging?
Mathematics
2 answers:
m_a_m_a [10]2 years ago
5 0

Answer:

9.68%

Step-by-step explanation:

cost of car = $35,000

down payment = $3,000

number of monthly instalments= $65

amount in every monthly instalment= $539.99

total monthly payment= 65×539.99= 35099.35

amount to be paid apart from downpayment= $35,000-3000= 32,000

therefore total interest paid in 65 months= 35099.35-3200= $3099.35

now, monthly interest rate r= \frac{3099.35}{32,000}\times100

⇒ r= 9.68%

antiseptic1488 [7]2 years ago
4 0

Answer:

0.285%

Step-by-step explanation:

Given,

The original value of the car = $ 35,000,

Amount of down payment = $ 3000,

So, the principal amount of the loan, P.V. = 35,000 - 3,000 = $ 32,000

Now, the amount of each monthly payment P= $ 539.99,

Number of monthly payments, n = 65,

Since, the monthly payment formula is,

P=\frac{PV(r)}{1-(1+r)^{-n}}

Where, r is the monthly interest rate,

539.99 =\frac{32000(r)}{1-(1+r)^{-65}}

By graphing calculator,

r=0.00285 = 0.285\%

Thus, he is being charged 0.285 % interest per month.

You might be interested in
Which set of ordered pairs does not describe a function?
dem82 [27]
C I think so sorry if I’m wrong
5 0
3 years ago
Muad can lift 129.6 pounds and Samara can lift 135.25 pounds. How much more weight can Samara lift?
notka56 [123]

Answer:5.29 pounds

Step-by-step explanation:

135.25 -129.6

6 0
3 years ago
Read 2 more answers
What is the equivalent form of the mathematical expression 14 + 35?
Ira Lisetskai [31]

Answer: 7(2 + 5)

Step-by-step explanation:

7(2 + 5)

14 + 35

4 0
3 years ago
Read 2 more answers
PLSS HELP ILL MARK BRAINLEST AND ILL GIVE 90 POINTS
Zigmanuir [339]

Answer:

umm? u forgot to add the composite figure lol

Step-by-step explanation:

:)

5 0
3 years ago
Read 2 more answers
A circular plot of land has a diameter of 16 yards. What is the area of theland? Use 3.14 for it.O A. 803.84 yd2O B. 50.24 yd2O
Amiraneli [1.4K]

The area of the circle can be calculated with the following formula

A=\pi\cdot r^2

First let's find the radius

\begin{gathered} r=\frac{16}{2}\text{yds} \\ r=8\text{yds} \end{gathered}\begin{gathered} A=\pi\cdot8^2 \\ A=3.14\cdot64 \\ A=200.96\text{ yd2} \end{gathered}

The answer would be 200.96 square yards

6 0
1 year ago
Other questions:
  • Jessie and Nathan went out to eat. Their lunch cost $17.98. If they give the waitress a 17% tip, how much was their total cost?
    14·1 answer
  • I need help with this problem #8 ignore the scribbles
    13·1 answer
  • Consider the ellipse 25xsquared plus 4y squared equals 1 in the​ xy-plane. a. If this ellipse is revolved about the​ x-axis, wha
    11·1 answer
  • A teacher has four books—A, B, C, and D—to assign to four students in any order he prefers. Set S includes all possible arrangem
    8·2 answers
  • What’s the answer and could you explain it
    11·1 answer
  • Every Halloween, trick-or-treaters love going to Elise's house to see her spooky decorations and get some of her delicious caram
    5·1 answer
  • Solve for x.<br> 8<br> 6<br> X<br> A<br> 100<br> В<br> 10<br> С<br> 5.3<br> D<br> 14
    12·1 answer
  • Gary's pay is $15 per hour. He receives a 6% pay raise.
    10·2 answers
  • Help please I’m confused?? I
    11·1 answer
  • HELP MY PARENTS ARGUING ABOUT THIS ASSIGNMENT PLEASE DO THIS HURRY!!!
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!