9514 1404 393
Answer:
14.3%
Step-by-step explanation:
We assume this question is asking for the annual interest rate for an amortized loan that would produce the same total repayment amount as if 8% simple interest were added to the $4900 loan amount. There is no formula for that, but there are a number of apps and spreadsheets that can calculate it. In the attached, we have use a graphing calculator.
The APR is about 14.3%.
_____
The amount to be repaid is calculated using the simple interest formula:
A = P(1 +rt) = $4900(1 +0.08·4) = $6468
Then the required monthly payment (for 48 months) is ...
$6468/48 = $134.75
__
The payment amount for a 48-payment loan at rate r on a principal of $4900 will be ...
A = 4900(r/12)/(1 -(1 +r/12)^-48)
In the attachment, we show the value of r (in percent) that would make the payment amount A be $134.75. We have done this by casting the problem in the form f(r) = 0 and looking for the x-intercept of f(r).
_____
<em>Additional comment</em>
The second attachment uses a spreadsheet for the same purpose. Here, we have used Go.ogle Sheets with a "Goal Seek" add-on to adjust the value in cell B5 so that the computed payment on the loan (cell B6) is the same as the value we calculated in cell B4.
We found the graphing calculator solution to be much quicker, though in that case we actually had to know the formula to use to calculate the payment. The payment formula is built into the spreadsheet.
Answer:
Alfred has 250 socks in his collection.
Step-by-step explanation:
Hello, great question. These types are questions are the beginning steps for learning more advanced Algebraic Equations.
Based on the information given to us we can see that out of All his Brown socks he has 20% in the wash and the rest are in his drawer. Meaning 80% of the Brown socks are in his drawer. So we first need to find how many Brown socks are in the wash. We can solve this using the <em><u>Rule of Three </u></em>property as shown in the picture below.
120 drawer ⇒ 80%
x wash ⇒ 20%
Now that we have the amount of Brown socks in the washer we can add that to the amount in the drawer to find the total amount of Brown socks.
So we now know that there are a total of 150 Brown socks. Since the question states that the Brown socks are 60% of the total we can use the <u><em>Rule of Three</em></u> to find the total.
150 Brown ⇒ 60%
T Total ⇒ 100%
Finally, we can see that Alfred has 250 socks in his collection.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
Answer:
$814.12
Step-by-step explanation:
1.5% of the selling price of 1,207.74 is added on to the state tax of $796. We have to find out the total sales tax of the city and state taxes combined.
1207.74 * .015 = 18.1161 (rounded to 18.12)
18.12 + 796 = 814.12
306% of 25
= (306/100) * 25
= 3.06 * 25
= 76.5
Answer:
$28,455
Step-by-step explanation:
Change 15% into a decimal.
(15)(1/100)=0.15
***(1/100) because 15 part of the whole 100 percent/.
(189,700)(0.15)
=28455
