Rula has purchased a new car for $15000. She paid $2,000 as a down payment, and she paid the remaining balance by a loan from he
1 answer:
Answer: 4 years
Explanation:
First find the amount Rula borrowed from her hometown bank:
= Price of car - Down payment
= 15,000 - 2,000
= $13,000
The amount that Rula is to pay is an annuity. The loan is the present value of that annuity.
Present value of annuity = Annuity * Present value interest factor of annuity
13,000 = 4,280 * Present value interest factor of annuity
Present value interest factor of annuity = 13,000 / 4,280
= 3.0373
Use an annuity table to find out the year that 12% as a discount rate intersects with, such that the present value of interest factor of annuity is 3.0373.
That number is:
= 4 years
You might be interested in
Answer:
Congruent triangles has the two angles of one of their sides equal
This means if a triangle side has angles of 30 and 60 degrees the other triangle also has 30 and 60 degrees.
An isoceles triangle will have 2 angles of the same degree. Thus, If triangle A is isoceles then, two angles add up to make the third equal to one these two.
We should remember that angles inside a triangle always add up to 180ª
2a +b = 180
a + b = 180 - a
if the other triangle has 2 angles mathing the isoceles triangle, then it is also an isoceles.
Uploaded an image of an isoceles triangle to understand better.
Explanation:
