Answer:
A It cannot be determined from the information given.
Step-by-step explanation:
Answer:
4 I guess
Step-by-step explanation:
Because
3-1=2
2^2=2*2=4
Answer:
Step-by-step explanation:
We are given two points, the y - intercept and the x - intercept.
The y - intercept being: ( 0, -7 )
The x - intercept being: ( 1, 0 )
The equation of a line in slope - intercept form is:
y = mx + b, where m is the slope and b is the y - intercept.
We already have the y - intercept. So far we have:
y = mx - 7
What we're missing is the slope.
To find the slope, we can use this formula:
, where 
and 
are the x - coordinates of both points and 
and are the y - coordinates of both points.
We now have the missing piece, the slope, so the equation now is:
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
