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Nutka1998 [239]
3 years ago
15

You wish to purchase a new car and can afford monthly repayments of up to $250 per month. You see a car you like for $12,000 and

are offered financing to secure the purchase. The loan lasts for 5 years and the annual interest rate is 17.9%. Can you afford to purchase the car on finance?
Mathematics
1 answer:
White raven [17]3 years ago
4 0

Answer:

Since the finance’s monthly required payment of $304.07 is greater than the $250 monthly that you can afford, this implies that you CANNOT afford to purchase the car on finance.

Step-by-step explanation:

The monthly required payment of the finance can be calculated using the formula for calculating the present value of an ordinary annuity as follows:

PV = M * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value or finance amount = $12,000

M = Finance’s monthly required payment = ?

r = Monthly interest rate = Annual interest rate / 12 = 17.9% / 12 = 0.179 / 12 = 0.0149166666666667

n = number of months = Number of years * 12 = 5 * 12 = 60

Substitute the values into equation (1) and solve for M, we have:

$12,000 = M * ((1 - (1 / (1 + 0.0149166666666667))^60) / 0.0149166666666667)

$12,000 = M * 39.464764662266

M = $12,000 / 39.464764662266 = $304.07

Since the finance’s monthly required payment of $304.07 is greater than the $250 monthly that you can afford, this implies that you CANNOT afford to purchase the car on finance.

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Find a polynomial of degree 3 with real coefficients and zeros of -3,-1, and 4, for which f(-2)=-24
Zanzabum

We want to find a polynomial

<em>f(x)</em> = <em>a</em> <em>x</em>³ + <em>b</em> <em>x</em>² + <em>c</em> <em>x</em> + <em>d</em>

such that the roots of <em>f</em> are <em>x</em> = -3, <em>x</em> = -1, and <em>x</em> = 4, and <em>f(x)</em> takes on a value of -24 when <em>x</em> = -2.

The factor theorem for polynomials tells us that we can factorize <em>f(x)</em> as

<em>a</em> <em>x</em>³ + <em>b</em> <em>x</em>² + <em>c</em> <em>x</em> + <em>d</em> = <em>a</em> (<em>x</em> + 3) (<em>x</em> + 1) (<em>x</em> - 4)

Expand the right side:

(<em>x</em> + 3) (<em>x</em> + 1) (<em>x</em> - 4) = <em>x</em>³ - 13<em>x</em> - 12

So we have

<em>a</em> <em>x</em>³ + <em>b</em> <em>x</em>² + <em>c</em> <em>x</em> + <em>d</em> = <em>a x</em>³ - 13<em>a</em> <em>x</em> - 12<em>a</em>

<em />

In order for both sides to be equal, the coefficients of both polynomials on terms of the same degree must be equal. This means

<em>a</em> = <em>a</em> (of course)

<em>b</em> = 0 (there is no <em>x</em>² term on the right)

<em>c</em> = -13<em>a</em>

<em>d</em> = -12<em>a</em>

<em />

We also have that <em>f</em> (-2) = -24, which means

<em>f</em> (-2) = <em>a</em> (-2 + 3) (-2 + 1) (-2 - 4)

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which in turn tells us that <em>c</em> = 52 and <em>d</em> = 48.

So we found

<em>f(x)</em> = -4<em>x</em>³ + 52<em>x</em> + 48

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