4% of $57.84
= 2.31 est. is sales tax
<u>Answer:</u>
<u>Step-by-step explanation:</u>
- <em>When we listen to the word "quotient", it means the solution to a division problem. </em>
- <em>An unknown number that has been multiplied by 2 is in the numerator because it came before the 7 in the statement. </em>
- <em>The number "7" is in the denominator because it came after the 2x in the statement. </em>
- <em>The word "is" represents an equal sign.</em>
- <em>The solution to the division problem (quotient) is 20. </em>
<u><em>If we put these clues together, we get 2x/7 = 20 as our translated equation.</em></u>
<u>Hence, our algebraic statement is 2x/7 = 20. The key is to listen to the statement. </u>
4/6 = 1/x cross multiple so x= 1.5 dollars
To solve this questions, we can turn 2 into a fractions.
2 as a fraction is 2/1 (because 2 divide by 1 is still 2)
We can now use this to get our answer.
1/3 ÷ 2/1
= 1/3 × 1/2 (flip the fraction and then multiply)
= 1/6 (1 x 1 / 3 x 6)
Or 0.16666.. as a decimal
He actually borrowed P=21349-3000=18349 (present value)
Assume the monthly interest is i.
then future value due to loan:
F1=P(1+i)^n=18349(1+i)^(5*12)=18349(1+i)^60
future value from monthly payment of A=352
F2=A((1+i)^n-1)/i=352((1+i)^60-1)/i
Since F1=F2 for the same loan, we have
18349(1+i)^60=352((1+i)^60-1)/i
Simplify notation by defining R=1+i, then
18349(R^60)-352(R^60-1)/(R-1)=0
Simplify further by multiplication by (R-1)
f(R)=18349*R^60*(R-1)-352(R^60-1)=0
Solve for R by trial and error, or by iteration to get R=1.004732
The APR is therefore
12*(1.004732-1)=0.056784, or 5.678% approx.
