Answer:
The monthly payments will be $ 36.66, and the finance charge will be $ 100.
Step-by-step explanation:
Since I buy items costing $ 1000 and finance the cost with a fixed installment loan for 30 months at 4% simple interest per year, to determine what is the finance charge and what is my monthly payment, the following calculations must be performed:
1 year = 12 months
30 months / 12 = 2.5 years
(1000 x (1 + (0.04 x 2.5))) / 30 = X
(1000 x (1 + 0.1) / 30 = X
(1000 x 1.1) / 30 = X
1100/30 = X
36,666 = X
Therefore, the monthly payments will be $ 36.66, and the finance charge will be $ 100.
1.5/3
2/3
1/6.5
Thats the answer
The answer is B corresponding angles
Answer:
The annual interest he receives is $25000
Step-by-step explanation:
We are given
Mr. Gardener has $300,000 in a deposit account
so,
P=300000
receives 8 1 3 % interest annually
so, r=8 1/3 %
%
time =1 year
so, t=1
now, we can use interest formula
![I=\frac{P\times r\times t}{100}](https://tex.z-dn.net/?f=I%3D%5Cfrac%7BP%5Ctimes%20r%5Ctimes%20t%7D%7B100%7D)
now, we can plug values
![I=\frac{300000\times \frac{25}{3}\times 1}{100}](https://tex.z-dn.net/?f=I%3D%5Cfrac%7B300000%5Ctimes%20%5Cfrac%7B25%7D%7B3%7D%5Ctimes%201%7D%7B100%7D)
now, we can simplify it
![I=25000](https://tex.z-dn.net/?f=I%3D25000)
So,
The annual interest he receives is $25000