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
stiks02 [169]
3 years ago
10

Charles is going to purchase a new car that has a list price of $21,450. He is planning on trading in his good-condition 2004 Do

dge Neon and financing the rest of the cost over three years, paying monthly. His finance plan has an interest rate of 12.28%, compounded monthly. Charles will also be responsible for 6.88% sales tax, a $1,089 vehicle registration fee, and a $124 documentation fee. If the dealer gives Charles 80% of the listed trade-in price on his car, once the financing is paid off, what percent of the total amount paid will the interest be? (Consider the trade-in to be a reduction in the amount paid.)
Dodge Cars in Good Condition
Model/Year
2004
2005
2006
2007
2008
Viper
$7,068
$7,225
$7,626
$7,901
$8,116
Neon
$6,591
$6,777
$6,822
$7,191
$7,440
Intrepid
$8,285
$8,579
$8,699
$9,030
$9,121
Dakota
$7,578
$7,763
$7,945
$8,313
$8,581
a.
17.64%
b.
15.67%
c.
16.70%
d.
12.86%
Mathematics
2 answers:
Kobotan [32]3 years ago
5 0

Answer:

The answer is C

Step-by-step explanation:

The after-tax amount Charles from saling his 2004 Neon is : 6,591 x 80% x ( 1 - 6.88%) = $4,910

The total amount Charles has to pay for the new car : $ 21,450 + 1,089 + $124 = $22,663

The total amount Charles has to get from finance plan : $ 22,663 - 4,910 = $17,753

For the finance plan, we have: Monthly IR = 12.28% /12 = 1.023%; Number of payment(N) = 12 x 3 = 36; Present value (PV) = Financing amount = $17,753

We apply the present value formular for annuity to find the equal payment Charles needs to pay monthly : C = (PV x Monthly IR) : ( 1 - (1+i)^(-n) ) = $592

So the total repayment needs to be make in Charles' finance plan = $592 x 36 = $21,312

The total interest expenses is: Total repayment - Financing Amount = $21,312 - $17,753 = $3,559 => percentage of total interest expenses in the amount paid = 3,559/21,312 = 16.70%

geniusboy [140]3 years ago
3 0

Answer: is C

Step-by-step explanation:

16.70% XD OWO -W- ;$

You might be interested in
Solve for x please show work
Vanyuwa [196]

Answer:

it is 10 d a d a p a p a

Step-by-step explanation:

5 0
2 years ago
E. 2078-01-08
Mazyrski [523]

Answer:

the full question isn't there. what do you need to find the number of??

4 0
3 years ago
HELPPPPPPPPPPPPPPPPPPPPPPPP
katen-ka-za [31]

Answer:

Sorry bro i don't know this

Step-by-step explanation:

But can u make me the Brainliest pls

8 0
2 years ago
A) how many ways are there to choose 10 players to take the field?
Kruka [31]

A. C(13, 10) = 13! = 13·12·11 = 13 · 2 · 11 = 286.C(13, 10) = 13! = 13·12·11 = 13 · 2 · 11 = 286.

B. P(13,10)= 13! =13! =13·12·11·10·9·8·7·6·5·4. (13−10)! 3!

C. f there is exactly one woman chosen, this is possible in C(10, 9)C(3, 1) =

10! 3!

9!1! 1!2! 10! 3!

8!2! 2!1! 10! 3!

7!3! 3!0!

= 10 · 3 = 30 ways; two women chosen — in C(10,8)C(3,2) =

= 45·3 = 135 ways; three women chosen — in C(10, 7)C(3, 3) =

= 10·9·8 ·1 = 120 ways. Altogether there are 30+135+120 = 285 1·2·3

<span>possible choices.</span><span> 
</span>

  


5 0
3 years ago
HELP ASAP LIKE RIGHT NOWWWW ITS A QUIZ
crimeas [40]

Answer x=30

Step-by-step explanation:

3 0
3 years ago
Other questions:
  • If a polygon is a square or a rectangle one may find the perimeter by
    14·1 answer
  • Replace the ? in each of these statements with the symbol &gt;, &lt;, or =. 
    6·2 answers
  • Help! please i’m stuck
    15·1 answer
  • I just finished my school work for the year!!!
    14·2 answers
  • The magnitude of an earthquake depending on the energy it produces can be modeled using the equation
    9·2 answers
  • What is the answer ?
    8·1 answer
  • I found x by doing cross multiplication. But I’m not sure how to find Y. Can anyone help?
    12·1 answer
  • 2 less than 7 times a number c is written as
    10·1 answer
  • Find the sum: 400 + 394 + 388 + .... - 32
    12·2 answers
  • Calculate the perimeter of a rectangle that is 6 cm x 3 cm
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!