WILL MARK CORRECT ANSWER BRAINLIEST

11. Mr Lee bought a second hand car for

Marrrta [24]

Answer :

Depends on the rate compound interest is accrued. See answers.

Step-by-step explanation:

We need the compound interest formula which is:

$A = P (1+\frac{r}{n} )^{nt}$

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

It doesn't say how frequently the interest is compounded, so we will do monthly, quarterly, and yearly.

MONTHLY

So we know the car costs $25,480 and he made a down payment of $10,000. By subtracting the down payment from the purchase price we find the loan amount.

$25,480 - $10,000 = $15,480

P = 15,480

r = 4.75% = .0475

n = 12 (12 months in a year)

t = 2

Plug everything into the compound interest formula.

$A = P (1+\frac{r}{n} )^{nt}$

$A = 15480(1+\frac{.0475}{12})^{12*2}$

$A = 15480(1+\frac{.0475}{12})^{24}$

$A = 15480(1+.00396)^{24}$

$A = 15480(1.00396)^{24}$

$A = 15480*1.0992$

$A = $17016.14$

Mr. Lee paid $17,016.14 when the bill came due at 2 years with interest compounded monthly.

QUARTERLY

P = 15,480

r = 4.75% = .0475

n = 4 (4 quarters in a year)

t = 2

$A = P (1+\frac{r}{n} )^{nt}$

$A = 15480(1+\frac{.0475}{4})^{4*2}$

$A = 15480(1+\frac{.0475}{4})^{8}$

$A = 15480(1+.0119})^{8}$

$A = 15480(1.0119)^{8}$

$A = 15480*1.099$

$A = 15480(1.099)$

$A = 17013.20$

Mr. Lee paid $17,013.20 when the bill came due at 2 years with interest compounded quarterly.

YEARLY

P = 15,480

r = 4.75% = .0475

n = 1

t = 2

$A = P (1+\frac{r}{n} )^{nt}$

$A = 15480(1+\frac{.0475}{1})^{1*2}$

$A = 15480(1+\frac{.0475}{12})^{2}$

$A = 15480(1+.0475})^{2}$

$A = 15480(1.0475)^{2}$

$A = 15480*1.0973$

$A = 16985.53$

Mr. Lee paid $16,985.53 when the bill came due at 2 years with interest compounded yearly.

4 0

4 years ago

Juan's grandmother left him 40 shares of Stock A and 150 shares of Stock B. How

Cerrena [4.2K]

Answer:

$13,087.50

Step-by-step explanation:

The sale of the 40 shares of stock A at $225 per share will get Juan ...

40 · $225 = $9000

The sale of the 150 shares of stock B at $27.25 per share will get Juan ...

150 · $27.25 = $4087.50

So, the total Juan will receive from the sale of the stocks will be ...

$9000.00 +4087.50 = $13,087.50

5 0

3 years ago

Which expression is equivalent to 7(6+y) *

REY [17]

Answer:

B

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

Acellus help slope intercept

Serjik [45]

Greetings.

The answer is y = 2x + 7.

Explanation:

If you are an expert in graph then you are able to find the slope without calculating. (Rise over Run by looking at the graph.)

We can also find the slope by calculating m-value.

$m=\frac{y_2-y_1}{x_2-x_1}$ ---> Rise Over Run

<em>But how are we gonna calculate if we don't have any two given ordered pairs?</em>

The answer is, we can just pick two ordered pairs that are part of the graph, or rather say that the graph passes through.

The graph passes through (-3,1) and (-2,3).

Then we can calculate the slope by using rise/run.

$m=\frac{3-1}{-2-(-3)}\\m=\frac{2}{-2+3}\\m=\frac{2}{1}\\m=2$

Thus, the slope is m = 2.

However, we are not done yet. We just only found out the slope. We need to find the y-intercept too.

From Linear Function - $y=mx+b$

Where m = slope and b = y-intercept.

Since b = y-intercept, we don't need to calculate/substitute x = 0. We simply find which number the graph has y-intercept at.

Which is (0,7), the y-intercept.

Then we substitute b = 7 as y-intercept.

Thus the answer is $y=2x+7$

3 0

3 years ago

What is the length of segment of A’B?

tino4ka555 [31]

Answer:

8

Step-by-step explanation:

4 0

3 years ago

Read 2 more answers