Answer:
anything greater than 31415900. 4000000000, 31415901, etc.
Step-by-step explanation:
3.14159*10^7 is 31415900. That means anything greater than that is a valid answer.
Divide the APR by 360 days and multiply it by 30 days to get the monthly interest. Each loan is usually secured by the car you bought. So we will use the secured APR.
8. Average rating secured apr: 5.85% divide by 360 multiply by 30: 0.4875% monthly rate
Cost of car: 19,725 ; sales tax: 4.75% ; down payment: 2,175
19,725 x 1.0475 = 20,661.94 - 2,175 = 18,486.94 loan amount
18,486.94 x 0.4875% = 90.12 accrued interest for the 1st month.
9. Excellent rating secured apr: 4.80% divide by 360 multiply by 30: 0.40% monthly rate
Cost of car: 15,867 ; sales tax: 5.25% ; down payment: 10% of total cost
15,867 x 1.0525 = 16,700.02 x 90% = 15,030.02 the principal balance at the start of the loan.
10. Fair rating secured apr: 7% divide by 360 multiply by 30: 0.5833% monthly rate
Cost of new car: 19,072 ; sales tax: 4.5% ; down payment: 1,200
Cost of used car: 15,365; sales tax: 4.5% ; down payment: 1,200
19,072 x 1.045 = 19,930.24 - 1,200 = 18,730.24
18,730.24 x 0.5833% = 109.25 accrued interest
15,365 x 1.045 = 16,056.43 - 1,200 = 14,856.43
14,856.43 x 0.5833% = 86.66 accrued interest
109.25 - 86.66 = 22.59 is the difference in interest accrued by the end of the first month.
Explanation
Step 1
find the slope
when yo know 2 points of a lines, P1 and P2, you can find the slope by using:
then, let
P1(6,0)
P2(0,4)
replace
Step 2
find the equation of the line,
so , the equation of the lines is
where -2/3 is the slope, and 4 is the y-intercept
I hope this helps you
That is what I am doing in school too
