Answer:
$2250
Step-by-step explanation:
First, find how much more Jayden will get each month by doing 2.5% of 5000, or multiplying 0.025 * 5000 = $125 per month.
Then, since Jayden is leaving it there for 18 months, you can do 125 * 18 = 2250.
The interest he will earn is $2250
Answer:
$1,229.75
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First, change 3.25% into a decimal:
3.25% -> 
-> 0.0325
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:
Lastly, subtract A from P to get the interest earned:
Answer:
A
Step-by-step explanation:
Tess is going to purchase a new car that has a list price of $29,190. She is planning on trading in her good-condition 2006 Dodge Dakota and financing the rest of the cost over four years, paying monthly. Her finance plan has an interest rate of 10.73%, compounded monthly. Tess will also be responsible for 7.14% sales tax, a $1,235 vehicle registration fee, and a $97 documentation fee. If the dealer gives Tess 75% of the listed trade-in price on her car, once the financing is paid off, what percent of the total amount paid will the interest be? (Consider the trade-in to be a reduction in the amount paid.) <u> ANSWER A</u>
Which variable are we solving for?
For y:
y= 5x-4/ 13
For x:
x= 13y+4/ 5
The answer should be $8 if you are trying to find the unit rate. All you have to do is divide 32 by 4 and you get 8. Hope that helped.
