Answer:
$3474.25
Step-by-step explanation:
Use the compound amount formula A = P(1 + r)^t. Here r is the rate as a decimal fraction and is -0.15. t represents the number of y ears. P is the initial value of the car.
Then: A = ($15,000)(1 - 0.15)^9, or
A = ($15,000)(0.85)^9 = $3474.25
We know that we have to m<span>ake a down payment of $1500 and finance the rest of $20000 at a 1.9% interest rate, making equal monthly payments for 5 years. Our first step to solve this problem would be to convert 5 years into months.
1 year = 12 months
12 * 5 = 60 months
Therefore, in 5 years there are 60 months.
Now lets solve this problem step by step.
Subtract the down payment from $20,000
</span>$20000-$1500=$18500
Multiply the remaining number by the interest rate.
$18500 *1.9 = $35150
Divide 35150 by number of months in 5 years (60)
$35150 / 60 = $585
<span>Therefore, you have to pay $585 per month. </span>
Answer:
2 apples
Step-by-step explanation:
- 1.75 ÷ 5 = 0.35
- 1 ÷ 0.35 = 2.85
- 2.85 rounded = 2
I hope this helps!
