Using simple interest, it is found that:
- The total amount paid was of $7,084.8.
- The finance charge was of $584.8.
- The simple interest rate was of 3%.
<h3>Simple Interest</h3>
Simple interest is used when there is a single compounding per time period.
The amount of interest after t years in is modeled by:
In which:
- r is the interest rate, as a decimal.
In this problem, the amount paid was of 36 monthly payments of
$196.80, hence:
36 x 196.80 = $7084.8.
The total amount paid was of $7,084.8.
The original price is of $6,500, hence the finance charge was of:
7084.8 - 6500 = $584.8.
For interest, we have that:
, hence:
The simple interest rate was of 3%.
More can be learned about simple interest at brainly.com/question/25296782
Answer:
$35,000
Step-by-step explanation:
The computation of the dividend amount is given below:
As we know that
Dividend Paid = Net income - Retained earnings for current year
where,
Retained earnings for current year = This year - last year
= $500,000 - $425,000
= $75,000
Now
Dividend Paid is
= $110,000 - $75,000
= $35,000
Answer: 7/32
Step-by-step explanation:
Multiply straight across the numerator and do the same for the denominator.
7x1=7 (numerator)
16x2=32 (denominator)
Answer is 7/32
Answer:
256 m and 3840 m²
Step-by-step explanation:
The 3 part of the ratio represents 48 m , then
48m ÷ 3 = 16 m ← value of 1 part of the ratio, so
5 parts = 5 × 16 m = 80 m
Then breadth = 48 m and length = 80 m
perimeter = 2l + 2b = 2(80) + 2(48) = 160 + 96 = 256 m
area = lb = 80 × 48 = 3840 m²
Step-by-step explanation:
A proper noun is a specific name for a particular person, place, or thing.
The Internet is a communication network that gained popularity in the 1990s.
<h2>A proper noun should always start with a capital letter, whether at the <u>s</u><u>t</u><u>a</u><u>r</u><u>t</u><u> </u><u>o</u><u>r</u><u> </u><u>m</u><u>i</u><u>d</u><u>d</u><u>l</u><u>e</u><u> </u><u>o</u><u>f</u><u> </u><u>a</u><u> </u><u>sentence</u><u>.</u></h2>
