Answer:
Char's monthly payment for the TV was $182.56.
Step-by-step explanation:
To find the answer, first you have to subtract the down payment from the cost of the TV:
$1,345.36-$250=$1,095.36
Then, you have to divide the remaining amount by six to find the monthly payment:
$1,095.36/6=$182.56
According to this, the answer is that Char's monthly payment for the TV was $182.56.
1/8 + 1/4
the least common multiple of 8 and 4 is 8. Convert 1/8 and 1/4 to fractions with denominator 8.
1/8 + 2/8
Because 1/8 and 2/8 have the same denominator, add them by adding their numerators.
1+2/8
add 1 and 2 to get 3
3/8 or 0.375
Use compound interest formula F=P(1+i)^n twice, one for each deposit and sum the two results.
For the P=$40,000 deposit,
i=10%/2=5% (semi-annual)
number of periods (6 months), n = 6*2 = 12
Future value (at end of year 6),
F = P(1+i)^n = 40,000(1+0.05)^12 = $71834.253
For the P=20000, deposited at the START of the fourth year, which is the same as the end of the third year.
i=5% (semi-annual
n=2*(6-3), n = 6
Future value (at end of year 6)
F=P(1+i)^n = 20000(1+0.05)^6 = 26801.913
Total amount after 6 years
= 71834.253 + 26801.913
=98636.17 (to the nearest cent.)
