At a bakery, Riley bought 3 bagels and 2 muffins

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

3 years ago

PLEASE HELP! LOVE YOU!

saw5 [17]

the base must be raised

for example

$log_{10}$ 55 = n ( the base is 10 ), then

55 = $10^{n}$

3 0

3 years ago

Big Mack buys meat for the family reunion cookout. He needs to buy 11 packagesof meat. A package of hotdogs costs $2.59, and a p

IgorC [24]

Hello!

Let's write some important information contained in the exercise:

• hotdogs: $2.59 (,x,)

,

• hamburgers: $5.29 (,y,)

He needs 11 packages. Let's write it:

• x + y = 11

He spent a total of $39.29. We can write it as:

• 2.59x + 5.29y = 39.29

Now, let's solve these two equations as a linear system:

$\begin{cases}x+y=11\text{ equation A} \\ 2.59x+5.29y=39.29\text{ equation B}\end{cases}$

First, let's isolate x in equation A:

$\begin{gathered} x+y=11 \\ x=11-y \end{gathered}$

Now, we will replace where's x by 11-y in equation B:

$\begin{gathered} 2.59x+5.29y=39.29 \\ 2.59(11-y)+5.29y=39.29 \\ 28.49-2.59y+5.29y=39.29 \\ -2.59y+5.29y=39.29-28.49 \\ 2.7y=10.8 \\ y=\frac{10.8}{2.7} \\ \\ y=4 \end{gathered}$

As I called the hamburgers as 'y', we know that he bought 4 packages of hamburgers.

5 0

1 year ago

Write a ratio for the following description: Kaleel made three times as many baskets as John during a basketball practice.

Hoochie [10]

Answer:

3:1

Step-by-step explanation:

If John makes 3, Then Kaleel makes 9, If John makes 1, Then Kaleel makes 3.

8 0

3 years ago

Find the lateral surface area of the prism below in square yards.

denis-greek [22]

Answer:

Step-by-step explanation:

Answer: 14*2 * 3

=> 6 * 14

<h2>=> 84</h2><h2></h2><h2>Please mark as brainliest for further answers :)</h2>

7 0

2 years ago