Answer:
3,992.34 (I think)
Step-by-step explanation:
Set an equation:
25000(1+.025)^6
and you should get an answer of 28992.33546
Then you should subtract the initial amount which is 25000 to find out how much interest is being paid.
So finally the answer would be 3,992.34.
If im not wrong that is :)
Answer:
2556
Step-by-step explanation:
Answer:
total finance cost is 274064
interest in 5 year = 17568.21
creditors reduced in year 8 is 21812.87
Step-by-step explanation:
given data
cost = 500000
rate 35%
installment = 12
annual payment = 49922
to find out
the total finance cost and interest is charged in 5 year and creditors reduced in year 8
solution
we know cost is 500000 so down payment will be
payment = 35% of 500000 = 35/100 × 500000
so payment = 175000
and 12 installment purchase price is 12 × 49922
purchase price = 599064
so total finance cost is payment + purchase price - cost
finance cost = 175000 + 599064 - 500000
so total finance cost is 274064
and
we know in 1 to 12 digit sum is 78
so interest in 5 year
interest = 5/78 of total finance cost
interest = 5/78 × 274064
interest in 5 year = 17568.21
and
interest in 8 year
interest = 8/78 of total finance cost
interest = 8/78 × 274064
interest in 8 year = 28109.13
so
creditors reduced in year 8 = 49922- 28109.13
creditors reduced in year 8 is 21812.87
It will be in the bottom right quadrant which is quadrant IV
The group paid $ 5250 at first city and $ 6250 at second city
<u>Solution:</u>
Let x = the charge in 1st city before taxes
Let y = the charge in 2nd city before taxes
The hotel charge before tax in the second city was $1000 higher than in the first
Then the charge at the second hotel before tax will be x + 1000
y = x + 1000 ----- eqn 1
The tax in the first city was 8.5% and the tax in the second city was 5.5%
The total hotel tax paid for the two cities was $790
<em><u>Therefore, a equation is framed as:</u></em>
8.5 % of x + 5.5 % of y = 790

0.085x + 0.055y = 790 ------- eqn 2
<em><u>Let us solve eqn 1 and eqn 2</u></em>
<em><u>Substitute eqn 1 in eqn 2</u></em>
0.085x + 0.055(x + 1000) = 790
0.085x + 0.055x + 55 = 790
0.14x = 790 - 55
0.14x = 735
<h3>x = 5250</h3>
<em><u>Substitute x = 5250 in eqn 1</u></em>
y = 5250 + 1000
<h3>y = 6250</h3>
Thus the group paid $ 5250 at first city and $ 6250 at second city