9hrs on sleep
6hrs on school
1.6 hrs on job
2.4 hrs on homework
1.92 hrs on meals
4.08hrs on entertainment
<span>The function can be described as
b(p)= player receives 10 bonus points
</span>b(p)= p+10<span>
s(p)= increases 5% of the player’s current points
</span>s(p)= <span>p*(100%+5%)= p*1.05
then </span><span> (s ∘ b)(p) would be
</span><span>s(p)= p*1.05
(s ∘ b)(p)= (p+10)*1.05
</span>(s ∘ b)(p)= 1.05p+10.5
We are NOT told 1) the finance charge and 2) the amount of time
<span>
<span>
19,850.00
<span>
Car Price
+1,488.75 Sales Tax
</span>
<span>
</span><span> -1,000.00
Down Payment
</span>
20,338.75
</span>
</span>
This is the amount being financed
Using a loan calculator http://www.1728.org/calcloan.htm
We see that if the loan is for 9.382% and it is for 5 years,
Then the monthly payment is $425.98
We will make 60 (12 months * 5) monthly payments resulting in a total loan cost of 425.98 * 60 =
<span>
<span>
25,558.80
</span>
</span>
Total Loan Cost
-20,338.75 Money Being Financed
5,220.05 Five Year's Interest
********************************************************************
THIS ISN'T EXACTLY RIGHT - SCROLL TO THE BOTTOM
So, 5,220.05 / 60 = Interest Paid each month.
= $87.00
So,
425.98
-87.00
<span>
<span>
338.98
</span>
</span>
Each month goes toward the principal.
******************************************************************************************
Although, the monthly payment remains exactly the same each month, the amount going toward interest and the amount going to equity (what you own), changes drastically each month.
See the mortgage calculator
http://www.1728.org/mortmnts.htm
So, your first payment, of 452.98 pays for $159.02 in interest and $266.95 in principal.
