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Kipish [7]
3 years ago
7

Brainliest + Points!

Mathematics
1 answer:
Yuri [45]3 years ago
7 0

Answer:

for new car loans at 2.79% the present value is $15879.04

for old car loans at 3.29 the present value is $15721.34

Step-by-step explanation:

 

firstly we use the present value annuity formula for this problem as there is future consistent payments that will be done and so we want to evaluate the present value for these two interest rates that are given respectively which is 2.79% and 3.29% which is compounded annually. therefore we will start by calculating the present value for payments on a new car loan.

we are given that she does not want to pay more than $350 per month therefore this gives us the future payments per month of $350 and now we know that the interest rates must be adjusted to monthly compounding so we will use this present value annuity formula:

Pv = C[(1-(1+i)^n)/i]

we will substitute values as follows ;

Pv is the present value we are looking for for the new car loan

C is the periodic payments which is the $350 per month she can afford.

i is the interest rate adjusted to monthly rate which is 2.79%/12

n is the number of payments made so 4years x 12 months = 48 months that she will be repaying the loan.

Pv = 350[(1-(1+(2.79%/12))/(2.79%/12)] then compute on calculator.

Pv = $15879.04 this is the maximum amount she can take for a new car loan.

then for the old car loan we only change i from the above interest to 3.29%/12 then substitute all the other values the same to the above mentioned present value formula.

Pv = 350[(1-(1+(3.29%/12))/(3.29%/12)]

Pv= $15721.34 so this is the maximum amount she can take for an old car loan.

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Answer:

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Step-by-step explanation:

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3 years ago
HELP ME PLEASE!!
LUCKY_DIMON [66]

Using a system of equation, we have that:

a)

  • x, which is the cost of on-site service.
  • y, which is the cost of at-store service.
  • z, which is the cost of by-mail service.

b)

The system is:

x = 3y

z = y - 10

15x + 40y + 5z = 3100

c)

The cost of one on-site repair service is of $90.

Item a:

The variables are:

  • x, which is the cost of on-site service.
  • y, which is the cost of at-store service.
  • z, which is the cost of by-mail service.

Item b:

On-site service costs <u>3 times as much as at-store service</u>, thus:

x = 3y

By mail service costs <u>$10 less than at-store</u>  service, thus:

z = y - 10

Last week, the shop completed <u>15 services on-site, 40 services at-store, and 5 services by mail for total sales of $3100</u>, thus:

15x + 40y + 5z = 3100

The system is:

x = 3y

z = y - 10

15x + 40y + 5z = 3100

Item c:

  • The cost of one on-site repair service is x.
  • First, replacing the first two equations into the third, we find y, and then with it we find x.

15x + 40y + 5z = 3100

15(4y) + 40y + 5(y - 10) = 3100

60y + 40y + 5y = 3150

105y = 3150

y = \frac{3150}{105}

y = 30

Then

x = 3y = 3(30) = 90

The cost of one on-site repair service is of $90.

A similar problem is given at brainly.com/question/24823220

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How it should be written:

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