1. The problem gives the residual value in percentage, and you need it in dollars. So, if the MSRP for the car Jennifer is leasing is $ 17,500, you have:
57%/100=0.57
residual value=$17,500*0.57= $9,975
2. Then, you need to substract the residual value and the lease term, to calculate the value of the car, as below:
car value=$17,500-$9,975=$7,525
3. You need to calculate the money factor, which is the interest rate divided by 2400. Then, you have:
Interest rate=9%/100=0.09
Money factor=0.09x2400
Money factor=0.00375
4. The interest is:
I=($17,500+$9,975)(0.00375)
I=$103.03
5. Therefore, the monthly payment is:
Monthly payment=(car value/36 months)+Interest
Monthly payment=($7,525/36)+$103.03
Monthly payment=$209.02+$103.03
Monthly payment=$312.06
What will Jennifer’s monthly lease payment be?
The answer is: d. $312.06
Answer: 14 feet. a. The Pythagorean theorem is a^2 + b^2 = c^2, where a and b are the sides of a right angle. By plugging in the sides of the wall, and solving for c, you can find the answer. 10^2 + 10^2 = c^2
| 100 + 100 = c^2 | 200 = c^2 | c = sqrt 200 | c = 14. The other way to solve this would be using the trig functions. You know that the angle between the hypotenuse and the wall side is 45 degrees, so you can use Sine to determine the hypotenuse. Sine is equal to opposite over hypotenuse. Sin (45) = 10/h | Sin (45) * h = 10 | h = 10/Sin (45) | h = 14. Both of the methods result in 14.
