Answer:
$5.39
Step-by-step explanation:
In order to solve for this equation, we are going to multiply 7.70 by 0.3 to find how much money was taken which was 2.31.
Subtract2.31 from 7.70 to recieve your new price :)
Hope this Helps!
Poi
1 answer:
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Answer:
a. The amount Taylor will need to finance is $8,000
b. The amount Taylor pays as interest in one year is $400
Step-by-step explanation:
The given parameters of the financing for the car are;
The cost of the car Taylor plans to purchase, C = $10,000
The amount Taylor has saved to be used as down payment, S = $2,000
The interest rate of the credit Taylor is offered = 5%
The duration given for repayment of the loan = 5 years
a. To purchase the car, the amount Taylor will need to finance, 'P', is given as follows;
P = C - S
∴ P = $10,000 - $2,000 = $8,000
b. The amount of interest on the loan in one year, 'I', is given by the following formula;
Where;
I = The interest payed
P = The principal amount taken as loan = $8,000
R = The interest rate = 5% APR
T = The time period the interest is applied = 1 year
Plugging in the values, we get;
The interest Taylor will pay on the loan in one year, I = $4,00
For this case we have:
way 1:
Common factor 3 in the expression:
Way 2:
Write the number 12 as the sum of 4 times 3:
Then, for associative property:
way 1:
Common factor 3 in the expression:
Way 2:
Write the number 12 as the sum of 4 times 3:
Then, for associative property: