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2 years ago

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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?

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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Simon has a scale model of the Concorde airplane. The actual length of the Concorde is approximately 200 feet. If the ratio of t

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The answer is: "40 cm " .
_________________________________________________________
<u>Note</u>:
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$\frac{200 ft }{ (x) cm} = \frac{5}{1}$ ;

Solve for "x" (in "cm" ) ;

→ 5x = 200 * 1 ;

→ 5x = 200 ;

Divide each side of the equation by "5" ;
to isolate "x" on one side of the equation; & to solve for "x" ;

→ 5x / 5 = 200 / 5 ;

to get:

→ x = 40 .
___________________________________________________________
The answer is: " 40 cm " .
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Answer:

1. Let us proof that √3 is an irrational number, using <em>reductio ad absurdum</em>. Assume that $\sqrt{3}=\frac{m}{n}$ where $m$ and $n$ are non negative integers, and the fraction $\frac{m}{n}$ is irreducible, i.e., the numbers $m$ and $n$ have no common factors.

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Substituting $m=3p$ into (1), we get

$3= \frac{9p^2}{n^2}$

which is equivalent to

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