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timama [110]
2 years ago
15

An auto dealership is advertising that a new car with a sticker price of $35,208 is on sale for $25,995 if payment is made in fu

ll, or it can be financed at 0% interest for 72 months with a monthly payment of $489. Note that 72 payments × $489 per payment = $35,208, which is the sticker price of the car. By allowing you to pay for the car in a series of payments (starting one month from now) rather than $25,995 now, the dealer is effectively loaning you $25,995. If you choose the 0% financing option, what is the effective interest rate that the auto dealership is earning on your loan?
Mathematics
1 answer:
frutty [35]2 years ago
6 0

The answer is: APR = 10.56%

Explanation:   Using an excel spreadsheet and the RATE function, we can calculate the monthly interest rate of buying the car:

=RATE(72,-489,25995)

= 0.8803% monthly interest rate

Then we multiply the monthly interest rate by twelve to get the APR:

APR = 0.8803% x 12 = 10.56%

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Sonja [21]
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3 0
2 years ago
Can you explain how to do this?
ivanzaharov [21]
Hi there! The answer is x = 1

Let's solve this problem step by step!
8(10) {}^{2x}  = 800

First divide both sides of the equation by 8.
10 {}^{2x}  = 100

Now rewrite 100 as a power of 10.
10 {}^{2x}  = 10 {}^{2}

Now we can use the following rule, which basically means that two different exponents of the same base must be the same
{g}^{a}  =  {g}^{b}  \\ a = b



We now get this.
2x = 2



Finally divide both sides by 2.
x = 1



~ Hope this helps you!
3 0
3 years ago
HELP IMMEDIATLY PLEASE I NEED HELP
Pachacha [2.7K]
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8 0
3 years ago
Read 2 more answers
Does this triangle have a hypotenuse about 39 feet long
SVETLANKA909090 [29]

Answer:

hypotenuse is about 33 ft long

Step-by-step explanation:

a^2+b^2=c^2

a= 30

b=14

30^2+14^2= 1096 =c^2

\sqrt{1096}=c

33.1=c

hypotenuse is about 33 ft long

6 0
2 years ago
Read 2 more answers
Suzanne has $80 she spends 3/5 of the money on Monday she spends the remaining money equally over the next five days how much mo
adoni [48]
Total amount = $80

Amount spent on Monday = 3/5 x 80 = $48

Amount remaining = $80 - $48 = $32

The money is spent over 5 days:

5 days = $32

1 day = $32 ÷ 5 = $6.40

Answer: She spent $6.40 on each of the 5 days.
4 0
3 years ago
Read 2 more answers
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