Answer: Company B charges $(15.5+0.12x) more for x miles than company A.
Step-by-step explanation:
Let x = Number of miles.
Total charge = Flat charge + (charge per mile) x (Number of miles)
Given:
For Company A ,
Flat charge= $45
Charge per mile = 11 cents = 0.11 [ 1 dollar = 100 cents i.e. 1 cent = 0.01 dollar]
Total charge = 45+0.01x
For Company B,
Flat charge= $60.50
Charge per mile = 13 cents = 0.13
Total charge = 60.50+0.13x
Difference in charge = Charge for company B - Charge for company A
= 60.50+0.13x-(45+0.01x)
= 15.5+0.12x
Hence, Company B charges $(15.5+0.12x) more for x miles than company A.
We know that we have to m<span>ake a down payment of $1500 and finance the rest of $20000 at a 1.9% interest rate, making equal monthly payments for 5 years. Our first step to solve this problem would be to convert 5 years into months.
1 year = 12 months
12 * 5 = 60 months
Therefore, in 5 years there are 60 months.
Now lets solve this problem step by step.
Subtract the down payment from $20,000
</span>$20000-$1500=$18500
Multiply the remaining number by the interest rate.
$18500 *1.9 = $35150
Divide 35150 by number of months in 5 years (60)
$35150 / 60 = $585
<span>Therefore, you have to pay $585 per month.</span>
