2 years ago

Which of these is a nonstore retailer?

Business

2 answers:

Sedbober [7]2 years ago

8 0

Answer is D. Catalog

Ann [662]2 years ago

3 0

Answer:

D. Catalog

Explanation:

Its not a store.

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Currently, you owe the bank $9,800 for a car loan. The loan has an interest rate of 7.75 percent and monthly payments of $310. Y

Ostrovityanka [42]

Answer:

It will extend the loan for 15.83 months = 16 more months.

Explanation:

We need to calcualte the difference in time between one option and another:

Original Loan:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C $310.00

time n

rate 0.0064583 (0.0775annual rate / 12 month per year)

PV $9,800

$310 \times \frac{1-(1+0.0064583)^{-n} }{0.0064583} = 9800\\$

We rearrenge and solve as much as we can:

$(1+0.0064583)^{-n}= 1-\frac{9800\times0.0064583}{310}$

$(1+0.0064583)^{-n} = 0.79583439$

Now, we solve using logarithmics properties:

$-n= \frac{log0.795834387096774}{log(1+0.0064583)}$

35.47385568

Now we calcualte with the new terms:

C $225.00

$225 \times \frac{1-(1+0.0064583)^{-n} }{0.0064583} = 9800\\$

$(1+0.0064583)^{-n}= 1-\frac{9800\times0.0064583}{225}$

$(1+0.0064583)^{-n}= 0.71870516$

$-n= \frac{log0.718705155555555}{log(1+0.0064583)}$

51.30909653

Last step, we solve for the difference:

51.30 - 35.47 = 15.83 = 16 more months

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