Answer:
R = 7
Step-by-step explanation:
15.50 + 1.50r =26 r =
Answer:
Solve it
Step-by-step explanation:
When you're asked to simplify an expression it means to solve it.
Using the monthly payment formula, it is found that:
- Her monthly payments are of $105.46.
- The total finance charge is of $3,111.04.
<h3>What is the monthly payment formula?</h3>
It is given by:
In which:
- n is the number of payments.
Considering that she must pay 20% down, the parameters are given by:
P = 0.8 x 2900 = 2320, r/12 = 0.085/12 = 0.007083, n = 24.
Hence the monthly payments are found as follows:
A = $105.46.
The total finance charge is composed by the <u>down payment plus the 24 monthly payments</u>, hence:
F = 0.2 x 2900 + 24 x 105.46 = $3,111.04.
More can be learned about the monthly payment formula at brainly.com/question/26267630
#SPJ1
Answer:
Step-by-step explanation:
Use the equation
89 < 75 + 0.7*M Subtract 75 from both sides
89 - 75 < 0.7M Combine
14 < 0.7 M Divide both sides by 0.7
14/0.7 < M
20 < M
If M goes over 20 then the flat rate is cheaper.