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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

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The total cost of a compact disc, including a 6% sales tax, is $14.31.
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Goryan [66]

Answer:

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Step-by-step explanation:

<u>Exponential Function</u>

The exponential function can be written with the general equation:

f(x)=A\cdot r^x

Where A is the value when x=0 and r>0 is the ratio. If r is greater than 1, the function is increasing, if r is less than 1, the function is decreasing.

The table shows the relation between values of x and values of the function y. Note that as x increases (one by one), y decreases with a ratio of 1/2. Only the last two choices have ratios of r=1/2. We only have to test which one of them has the correct value of y=4 when x=0.

Substituting in the third function:

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\displaystyle f(0)=4\cdot\left(\frac{1}{2}\right)^0

f(0) = 4

This gives the correct value of f(0)=4.

Substituting in the fourth function:

\displaystyle f(x)=\frac{1}{2}\cdot\left(\frac{1}{2}\right)^x

\displaystyle f(0)=\frac{1}{2}\cdot\left(\frac{1}{2}\right)^0

f(0) = \frac{1}{2}

This choice is wrong

Correct choice:

\boxed{\displaystyle f(x)=4\cdot\left(\frac{1}{2}\right)^x}

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Step-by-step explanation:

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