Find the area of the following figure. Explain how you found your answer.
2 answers:
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Using an exponential function, it is found that the number 131.5 represents the initial value of the plane, in thousands of dollars.
<h3>Exponential function:</h3>A decaying exponential function is modeled by:
In which:
- A(0) is the initial value.
- r is the decay rate, as a decimal.
In this problem, the function for the value of the airplane after t years is given by:
Hence A(0) = 131.5, which means that the number 131.5 represents the initial value of the plane, in thousands of dollars.
To learn more about exponential functions, you can take a look at brainly.com/question/8935549
Option C
Monthly loan payment is $ 93.33
<em><u>Solution:</u></em>
From given question,
Cost of sailboat = $ 3000
Down payment = $ 1000
<em><u>Hence net principal is given as:</u></em>
net principal = p = $ 3000 - $ 1000 = $ 2000
p = $ 2000
The bank approved a simple interest flat rate loan for 2 years at 6% APR
Hence number of years = 2 years
Rate of interest = 6 %
<em><u>Let us first calculate the simple interest</u></em>
The formula for simple interest is given as:
Substituting the given values,
Thus simple interest = $ 240
Total amount payable = principal + simple interest
Total amount payable = $ 2000 + $ 240
Total amount payable = $ 2240
<em><u>How much are the monthly loan payments?</u></em>
Here number of years = 2 years
To calculate the monthly payment divide the total amount payable by 24 (since 2 year = 24 months )
Thus monthly loan payment is $ 93.33 Option C is correct
