Answer: 6,520 miles per year
Step-by-step explanation:
They had driven the car for 53,790 miles in 8.25 years.
The average number of number of miles driven per year is:
= 53,790 / 8.25 years
= 6,520 miles per year
<em>They drove an average of 6,520 miles per year.</em>
Answer:
$2502.60
Step-by-step explanation:
The formula for the amount of an annuity due is ...
A = P(1 +r/n)((1 +r/n)^(nt) -1)/(r/n)
where P is the monthly payment (100), r is the annual interest rate (.04), n is the number of compoundings per year (12), and t is the number of years (2). Given these numbers, the formula evaluates to ...
A = $100(1.00333333)(1.00333333^24 -1)/0.00333333
= $100(301)(0.08314296)
= $2502.60
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This value is confirmed by a financial calculator. The given answer choices all appear to be incorrect. The closest one corresponds to an annual interest rate (APR) of 4.286%, not 4%.
I believe that the slope would be 4/2 or 2, but i wouldn’t take my word for it