1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elan Coil [88]
2 years ago
13

Travis can afford a $260-per-month car payment, and he is interested in either a compact car, which costs $10800, or a coupe, wh

ich costs 11,300. If he is being offered a 4-year car loan with and APR of 6%, compounded monthly, which car can Travis afford?
Mathematics
2 answers:
Tamiku [17]2 years ago
4 0

Answer:

Travis can afford the compact car.

Step-by-step explanation:

The EMI formula is :

\frac{p*r*(1+r)^{n} }{(1+r)^{n}-1 }

In first case:

p = 10800

r = 6/12/100=0.005

n = 4*12 = 48

Putting values in the formula we get:

\frac{10800*0.005*(1+0.005)^{48} }{(1+0.005)^{48}-1 }

= $254

We can see that Travis can afford the compact car because the EMI is less than $260.

In second case:

p = 11300

r = 6/12/100=0.005

n = 4*12 = 48

Putting values in the formula we get:

\frac{11300*0.005*(1+0.005)^{48} }{(1+0.005)^{48}-1 }

= $265.75

We can see that the coupe will have an EMI of $265.75 which is higher than the amount that Travis can afford.

Hence, Travis can afford a compact car.

ludmilkaskok [199]2 years ago
3 0

Answer: travis can afford the compact car but not the coupe



Step-by-step explanation:


You might be interested in
4 Use the Distributive Property to rewrite the<br> expression:<br> 3(3x + 6)
Anit [1.1K]

3(3x+6)=9x+18

6 0
2 years ago
Read 2 more answers
What is the range of arcsinx
Aleonysh [2.5K]
Y= arcsin(x) is equivalent to sin(y) = x

we know that     -1≤x+1, hence the range of y is:    -π/2≤y≤+π/2
 
3 0
3 years ago
If you are standing 300ft from a building and the building is 200 ft tall, what is the angle of elevation formed with the ground
valentinak56 [21]
The answer is 49.2ft I think
6 0
2 years ago
What is [(3n+2)-0.02]×5
gtnhenbr [62]

Answer: i havent done this in a long long time but i think it may be

15n-0.10

Step-by-step explanation:

3 0
3 years ago
Me remaining days
Alex73 [517]
Well $25 is the standard price initially.

$10 is added every hour as a constant rate.

Therefore a. 25 + 10h is the right expression
4 0
3 years ago
Other questions:
  • Find two consecutive odd integers if twice the larger increased by the smaller equals 85
    11·1 answer
  • Whats the midpoint between 2 and 8​
    8·2 answers
  • at McDonalds a cheese burger, c, has 200 fewer calories that a large fry, f. two cheeseburgers and a large fry have 1100 calorie
    12·2 answers
  • Which property would be used to show that the product of two rational is always rational
    11·1 answer
  • A baseball team has home games on thursdaythursday and saturdaysaturday. the two games together earn ​$4285.004285.00 for the te
    13·1 answer
  • What does a semicolon in math mean
    12·1 answer
  • Write each percent as a fraction in simplest form?<br><br> 1. 75%
    11·1 answer
  • Which expression matches the words "the product of 12 and 4, then subtract 8
    14·1 answer
  • How many feet are in 189882 inches
    9·1 answer
  • PLEASE HELP just need a quick answer!!! will give brainly!!!
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!