Step-by-step explanation:
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Answer:
Each monthly payment is $ 49.05, and in total Tom paid $ 648.60.
Step-by-step explanation:
Given that Tom buys a DVD player on 12 monthly payments, whose cash price is $ 600, and he pays a 10% deposit and the store charges 9% interest, to determine how much is each payment and the total amount Tom pays for the DVD player the following calculations must be performed:
600 - 600 x 0.1 = 540
540 x 1.09 = 588.6
588.6 / 12 = 49.05
Thus, each monthly payment is $ 49.05, and in total Tom paid $ 648.60.
Answer:
7. (-1, 10)
8. (7,-6)
9. C
10. One solution, Infinitely Many Solutions, No Solution
11. Adult tickets: 52 Student tickets: 68
Answer:
$56.875
Step-by-step explanation:
Given that :
Amount invested = principal, p = 3500
Interest rate, r = 6.5% = 0.065
Penalty on withdrawal = 3 month simple interest
Simple interest = principal * rate * time
Time = 3 months = 3/12 = 0.25 years
Hence,
Simple interest = 3500 * 0.065 * 0.25
Simple interest = $56.875
Hence, penalty paid = $56.875
