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Paha777 [63]
3 years ago
7

melissa purchased a car at the price of 20,540 with a down payment of 3,900 and financed the rest paying 8.6% interest compounde

d monthly over a payment period of 5 years she also had to pay 8.25% sales tax a $955 registration fee and $57 documentation fee what is her monthly payment
Mathematics
1 answer:
DaniilM [7]3 years ago
6 0

Answer:

$478.06

Step-by-step explanation:

let's first start out by figuring out the present value of the loan

((20540*1.0825)+955+57)-3900

Which gives me a value of 23246.55

I'm then going to assume that the 8.6% is a nominal interest rate meaning that the effectively monthly rate is equal to .086/12=.0072

Which means we have

23246.55=X(a angle 60 at .0072) (i'm using annuities to solve this if you don't know what this is just ask)

Solve this and get $478.06

You might be interested in
A publisher needs to send many books to a local book retailer and will send the books in a combination of small and large boxes.
mote1985 [20]

Answer:

5 large boxes

3 small boxes

Step-by-step explanation:

Create two equations to represent the problem.

let "a" be the number of small boxes

let "b" be the number of large boxes

20a + 40b = 260    This equation shows the numbers of books

a + b = 8                  This equations shows the number of boxes

Solve the system of equations (solve for a and b). We can solve using the substitution method.

Rearrange a + b = 8 to isolate one of the variables.

a = 8 - b    New equation that represents "a"

Since we know an equation for "a", we can substitute what "a" equals into the other equation. There will only be one variable in the equation, so we can solve by isolating. Isolate by doing reverse operations.

Substitute "a" for 8 - b

20a + 40b = 260

20(8 - b) + 40b = 260     Distribute 20 over the brackets by multiplying

160 - 20b + 40b = 260    Collect like terms (numbers with same variables)

160 + 20b = 260    Start isolating "b". Subtract 160 from both sides

20b = 260 - 160

20b = 100    Divide both sides by 20

b = 5    Number of large boxes

Substitute "b" for 5 in the simplest equation

a + b = 8

a + 5 = 8      Subtract 5 from both sides to isolate "a"

a = 8 - 5    

a = 3      Number of small boxes

Therefore there were 5 large boxes and 3 small boxes sent.

3 0
3 years ago
A boat traveled 308 miles each way downstream and back. The trip downstream took 11 hours. The trip back took 22 hours. Find the
photoshop1234 [79]

Answer:

speed of boat is 12 miles per hour and the speed of current is 9 miles per hour

Step-by-step explanation:

8 0
3 years ago
Form a sequence that has two arithmetic means between -1 and 59.
9966 [12]

Answer:

Correct choice is B

Step-by-step explanation:

For the numbers -1 and 59, find the difference 59-(-1):

since 59-(-1)=60 and \dfrac{60}{3}=20 (two arithmetic means tells you there will be three intervals), two arithmetic means will be

  • -1+20=19;
  • 19+20=39.

The only correct sequence is -1, 19, 39, 59.

7 0
3 years ago
Read 2 more answers
Write the equation of the line that passes through the points (-7, 7) and (-6, -5).
defon

Answer:

y = -12x - 77

Step-by-step explanation:

The standard form of the equation is expressed as y = mx+b

m is the slope

Given the coordinate (-7, 7) and (-6, -5).

m = -5-7/-6+7

m = -12/1

m = -12

Get the intercept b

Substitute m= -12 and (-7 7) into y = mx+b

7 = -12(-7) + b

7 = 84 + b

b = 7 - 84

b = -77

Get the required equation

y = mx+b

y = -12x +(-77)

y = -12x - 77

This gives the required equation

4 0
3 years ago
9 < 11, so 9(5) < 11(5) true or false?
Zolol [24]
It is true since you’re multiplying the same number on both the sides
7 0
3 years ago
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