3 years ago

I will give brainiest to whoever answers correctly !!

Mathematics

1 answer:

disa [49]3 years ago

7 0

Answer:

8.72%

Step-by-step explanation:

Percent change formula: [(original - new)/original]*100

Hope this helps :)

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You want to buy a new sports car from roy's cars for $51,800. the contract is in the form of a 48-month annuity due at an apr of

qwelly [4]

The present value of an annuity is given by

$PV= P\left(\frac{1-\left(1+ \frac{r}{t}\right)^{-nt} }{ \frac{r}{t} } \right)$

where: PV is the current value of the annuity, P is the periodic payment, r is the apr, t is the number of compounding in one year and n is the number of years.

Thus, given that PV = $51,800; r = 7.8% = 0.078; t = 12; n = 4.

$51,800= P\left(\frac{1-\left(1+ \frac{0.078}{12}\right)^{-4\times12} }{ \frac{0.078}{12} } \right) \\ \\ =P\left(\frac{1-(1+ 0.0065)^{-48} }{ 0.0065 } \right)=P\left(\frac{1-(1.0065)^{-48} }{ 0.0065 } \right) \\ \\ =P\left(\frac{1-0.7327}{ 0.0065 } \right)=P\left(\frac{0.2673}{ 0.0065 } \right)=41.12P \\ \\ \Rightarrow P= \frac{51,800}{41.12} =\$1,259.73$

Therefore, the monthly payment is $1,259.73

6 0

4 years ago

Read 2 more answers

Julio gets paid $10.00 an hour to babysit his cousins 4 hours a week. He allows himself to spend $7.00 a week and he saves the r

IRINA_888 [86]

$165.00

$10*4= $40

$40 x 5 = $200
$200- (5 x $7)
$200-35
$165

4 0

3 years ago

Can someone please help me I keep getting the same answer

beks73 [17]

Answer: