A customer borrowed $2000 and then a further $1000 both repayble in 12 months. What would he have saved if he had taken out one loan for $3000 repayable in 12 months?
He took two different loans, it charged him loan processing fee twice, two-time documentation process, and of course, extra time spent for second loan. Instead, he could take single loan of $3000 with one-time processing fee, one-time documentation process, and time-saving also.
Answer:
20
Step-by-step explanation:
To calculate the sum of the residuals, subtract the predicted sales from the actual sales in the table below.
Actual sales 55 150 325 510 780 990
Predicted sales 40 150 300 500 800 1,000
This will show the change between them. Add each residual to find the sum.
55 - 40 = 15
150 - 150 = 0
325 - 300 = 25
510 - 500 = 10
780 - 800 = -20
990 - 1000 = -10
These add up to be 15 + 25+ 10 +-20 +-10 = 20
He should receive around $21.88. This is excluding the fact he still needs to pay the sales tax. I would subtract a few more dollars.
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