<u>Answer:</u>
The finance charge for this loan of Solomon is $1008 approximately.
<u>Solution:</u>
Given, Solomon is taking out 15,320, 2 year loan with an APR of 3.29%.
We have to find What will be the finance charge for this loan.
Now, yearly interest on amount of $15320 = 3.29% of 15320
Yearly interest on amount of $15320
Yearly interest on amount of $15320 = 0.329 x 1532
Yearly interest on amount of $15320 = 504.028
So, for 2 years, his interest will be 2 x 504.028 = 1008.056
Hence, finance charge for this loan is $1008 approximately.
Answer:
<u>Solution is correct till finding the roots:</u>
<u>Then Seth should find the respective y- points using either equation:</u>
and
<u>Correct solution is:</u>
Simplest form add all like things 1.26x+ 11.24
I hope this helps you
(5,-7) x'=5 y'= -7
(-7,1) x"= -7 y"=1
slope. (x'-x")=y'-y"
slope. (5-(-7))= -7-1
slope. 12= -8
slope =-8/12
slope = -2/3