Answer:
(a) What finance charge will Jaime pay?
$818.4
(b) What is the APR to the nearest half percent ?
8.5%
Step-by-step explanation:
(a) What finance charge will Jaime pay?
The cash cost is $7500. She decides to finance the project by paying 20% down
Amount paid for down payment = $7500 × 20/100
= $1500
Amount left = $7500 - $1500
= $6000
The balance paid in 36 monthly payments of $189.40.
Hence: $189.40 × 36 = $6818.4
The finance charge = $6818.4 - $6000
= $818.4
(b) What is the APR to the nearest half percent ?
Step 1
Finance charge/ Amount left × 100
= 818.4/6000 × 100
= 13.64
Using the APR table:
The APR to the nearest half percent = 8.5%
Quarterly payment (before Svc Chg): PV 35,125, N 40, R 1.86% computes to Annuity of 1,252.70
Total paid (1,252.70 x 40) 50,108 - 35,125 = 14,983 Interest paid + 5,180.70 Svc Chg = 20,163.70, of which Svc Chg was 25.69%
Answer:
44
Step-by-step explanation:
There are 4 quarters in a dollar.
"How many quarters are there in eleven (11) dollars?"
4 x 11 = 44
There are 44 quarters in eleven dollars.
Answer:
The numbers are -15 and 100
Step-by-step explanation:
we have
Solve the left side
so
equate the numerators and the denominators
20+x=5 ------> x=5-20=-15
100=y -------> y=5
therefore
The numbers are -15 and 100
