Fritz Benjamin buys a car costing $24600. He agrees to make payments at the end
of each monthly period for 6 years. He pays 7.2% interest, compounded monthly.
What is the amount of each payment? Find the total amount of interest Fritz will
pay.

Answers

Answer 1

Answer:

$525.62

$13,244.64

Step-by-step explanation:

A = P(1 + r/n)^nt

Where,

A = future value = ?

P = principal = $24,600

r = interest rate = 7.2% = 0.072

n = number of periods = 12

t = time = 6 years

A = P(1 + r/n)^nt

= 24,600(1 + 0.072/12)^12*6

= 24,600(1 + 0.006)^72

= 24,600(1.006)^72

= 24,600(1.5384)

= 37,844.64

12 months × 6 years = 72 months

Each monthly payment = Total payment / number of months

= $37,844.64 / 72

= $525.62

Total amount of interest = Total payment - Principal payment

= $37,844.64 - $24,600

= $13,244.64


Related Questions

What is accounting? What is the role of accounting in values?

Answers

Answer:

Found this on google, "Accounting creates values by maintaining transparency of accounts. Since man lives in the society, he has got a social life. For leading a social life he has to perform financial and material transactions daily. For carrying out these transactions successfully the existence of a sound environment is necessary."

Answer: Accounting is the process of recording financial transactions pertaining to a business.

Step-by-step explanation: The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. This information is then used to reach decisions about how to manage the business, or invest in it, or lend money to it.

Mike wants to put 150 square feet of artificial turf in his front yard. This is the maximum area
of artificial turf allowed by his homeowners association. He wants to have a rectangular area
of turf with length one foot less than 3 times the width. Find the length and width. Round to
the nearest tenth of a foot.

Answers

Answer:

Step-by-step explanation:

Area of the rectangular area = Length * width

A = LW ...... 1

If he wants to have a rectangular area  of turf with length one foot less than 3 times the width, then

L = 3W - 1 ...... 2

Substitute 2 into 1

A = (2W-1)W

A = 2W^2 - W

Since area = 150sq.ft

150 = 2W^2 - W

2W^2 - W - 150 = 0

Factorize

2W^2 - W - 150 = 0

W = 1±√1+4(300)/2(2)

W =  1±√1201/2(2)

W = 1±34.655/4

W = 35.655/4

W = 8.91375

W = 8.9 (to nearest tenth)

Get the length

L = A/W

L = 150/8.9

L = 16.85

L = 16.6ft

Hence the length is 16.6ft and the width is 8.9ft

The front and back covers of a textbook are each 0.3 cm thick. Between the covers are 200 sheets of paper, each 0.008 cm thick. How high is a stack of 10 books

Answers

Answer:

22 cm

Step-by-step explanation:

Start off by multiplying the number of pages by the thickness.

200*0.008=1.6

Add the thickness of the front and back cover.

1.6+0.6=2.2

Multiply by 10.

2.2*10=22 cm

Multiplication is the process of multiplying, therefore, adding a number to itself for the number of times stated. The height of the 10 stacks of books is 22cm.

What is multiplication?

Multiplication is the process of multiplying, therefore, adding a number to itself for the number of times stated. For example, 3 × 4 means 3 is added to itself 4 times, and vice versa for the other number.

Given that the front and back covers of a textbook are each 0.3 cm thick. Also, there are 200 sheets of paper between the cover and the thickness of each sheet is 200 sheets. Therefore, the thickness of the book is,

The thickness of a single book

= (Number of covers × Thickness of cover) + (Number of sheets × Thickness of sheets)

= (2 × 0.3cm) + (200 × 0.008cm)

= 2.2 cm

Now, the thickness of 10 books will be,

The thickness of 10 books = 10 × the Thickness of a single book

                                            = 10 × 2.2 cm

                                            = 22 cm

Hence, the height of the 10 stacks of books is 22cm.

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Liana is studying the activity of nurse sharks. She starts at a position that is 25 feet below sea level. She rises 9 feet, then descends 12 feet to take a photo of a sleeping shark. Find her position relative to sea level when she took the photo.

Answers

Answer:

I believe the answer is -28

Step-by-step explanation

I gotchu bro

The answer is -28 because Liana starts at 25 below sea level (which is the same thing as -25) If she rises 9 feet, then you know to add because she is going up so your just gonna add. Next she descends 12 feet, so she went down, so subtract. So i know the answer is going to be -28 because -25+9 is -16, then imma subtract -16 and 12 so, -16 - 12= -28. There ye go

The sum of the ages of Martin and his son Sherwin is 47 years. Martin's age is 2 years more than 4 times the
age of Sherwin. Find their present age.​

Answers

Answer:

In the picture above it shows how to answer the questions step by step. If there's a mistake, pls inform me.

Find the slope I’m sorry I need help with this one I’m finding the answer but don’t understand it sorry

Answers

the answer is 4 ....

PLEASE HELP ME I AM PAYING 100 POINTS!!

Mal works at a photo gallery. He charges $50 for a large photo and $40 for a large frame. Sales tax is 5%. How much total tax will a customer pay on both?
Answer the questions to show how to write and simplify expressions that represent the problem.



1. Find the total tax using the expanded expression. Did you get the same answer as you did by evaluating the original expression?


Write your answer in the space below.




2. Which expression, the original expression or the expanded expression, involves finding the total cost first, then calculating the tax on that total?


Write your answer in the space below.


no scams!

Answers

the total tax is 4.50 dollars, yes it is the same because they are the basically the same equation .

the original expression
1. Both the expanded and original have the tax pf $4.50

2. The original
:)

Which function is linear?
A. 9y+3=0
B. Y-4x=1
C. Y=2+6x⁴
D. X-2y=7
E. X/y+1=2

Answers

Answer:the answer is A

Step-by-step explanation:

can anyone help me please!! i dont get it (explain too)
MARKING BRAINLIEST

Answers

Answer:

i=

Step-by-step explanation:

Solve for the line, Thank you!

Answers

I think 0,5





Explain

Shannon's rain-catcher has 8 inches of water in it. Each day, 3 inches of water are added to the rain-catcher. Let y represent the total number of inches of water in the rain-catcher after x days. Express the equation in the form of y=mx+b .

Answers

Answer:

y=  3x + 8

Step-by-step explanation:

y = mx + b

m = 3 inches of water added each day

x = 8 inches of water at start

y=  3x + 8 is the required equation.

What is an equation?

An equation is a mathematical statement that shows that two mathematical expressions are equal.

Given that, Shannon's rain-catcher has 8 inches of water in it. Each day, 3 inches of water are added to the rain-catcher.

We have,

m = 3 inches of water added each day

x = 8 inches of water at start

Converting in y = mx + b, we get,

y = 3x+8

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What is the square root for this numberZ

Answers

10 is the answer because 10 times itself is equal to 100
10
.........................

The function P(x) = –0.015x^2 + 1.2x – 11.5 gives the profit, in thousands of dollars, when a company sells a new product at x dollars per unit. Which of the following statements best interprets the average rate of change of this function from x = 50 to x = 55?
The profit increases by $375 for every $1 increase in the selling price.
The profit decreases by $375 for every $1 increase in the selling price.
The profit increases by $1875 for every $1 increase in the selling price.
The profit decreases by $1875 for every $1 increase in the selling price.

Answers

Answer:

The profit decreases by $ 375 for every $ 1 increase in the selling price.

Step-by-step explanation:

From the definition of the secant line we get that the average rate of change of [tex]P(x) = -0.015\cdot x^{2}+1.2\cdot x -11.5[/tex], where [tex]x[/tex] is the selling price of the product, measured in dollars per unit, is:

[tex]r = \frac{P(55)-P(50)}{55-50}[/tex] (1)

Now we evaluate the function at each bound:

x = 50

[tex]P(50) = -0.015\cdot (50)^{2}+1.2\cdot (50)-11.5[/tex]

[tex]P(50) = 11[/tex]

x = 55

[tex]P(55) = -0.015\cdot (55)^{2}+1.2\cdot (55)-11.5[/tex]

[tex]P(55) = 9.125[/tex]

Then, the average rate of change is:

[tex]r = \frac{9.125-11}{55-50}[/tex]

[tex]r = -0.375[/tex]

Hence, the profit decreases by $ 375 for every $ 1 increase in the selling price.

The statements that best interprets the average rate of change from x = 50 to x = 55 is (b) The profit decreases by $375 for every $1 increase in the selling price.

The profit function is given as:

[tex]P(x) = -0.015x^2 + 1.2x - 11.5[/tex]

Calculate P(x), when x = 50.

So, we have:

[tex]P(50) = -0.015(50)^2 + 1.2(50) - 11.5[/tex]

[tex]P(50) = 11[/tex]

Calculate P(x), when x = 55.

So, we have:

[tex]P(55) = -0.015(55)^2 + 1.2(55) - 11.5[/tex]

[tex]P(55) = 9.125[/tex]

The average rate of change from x = 50, to 55 is then calculated using:

[tex]m = \frac{P(55) - P(50)}{55-50}[/tex]

So, we have:

[tex]m = \frac{9.125 - 11}{55-50}[/tex]

[tex]m = \frac{-1.875}{5}[/tex]

Divide

[tex]m = -0.375[/tex]

The function is in 1000 units.

So, we have:

[tex]m = -0.375\times 1000[/tex]

[tex]m = -375[/tex]

-375 implies a decrease of $375 for every $1 increase in sales

Hence, the correct statement is (b)

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Guessing the initial of a students middle name

Answers

Answer:

1/26

Step-by-step explanation:

Johanna can jog 3,000 feet in 5 minutes. If she jogs at the same rate, how many feet can she jog in 8 minutes?

Answers

Answer:

4800

Step-by-step explanation:

3000\5=600

600*8=4800

Please help meeee :)))))

Answers

It’s a aka 1/2 , -2 hope this helped

A line passes through (2, -1) with slope 3.
What is the equation of the line in point-slope form?
A. y - 1 = 3(x + 2)

B. 3(y + 2) = x - 1

C. y - 2 = ( 1/3 x + 1)

D y + 1 = 3(x - 2)

Answers

A. y - 1 = 3x + 6
Add 1
y = 3x + 7

B. 3y + 6 = x - 1
Subtract 6, then divide by 3
3y = x - 7
y = 1/3x - 7/3

C. y - 2 = 1/3x + 1
Add 2
y = 1/3x + 3

D. y + 1 = 3x - 6
Subtract 1
y = 3x - 7

When put on a graph, D passes through (2, -1)

Answer is D.

A salad lettuce,tomatoes,and onions would be classified as a

Answers

A salad can be defined as plate full of different kinds of vegetables and fruits which are edible.
The plates contains tomatoes which are different in chemical composition, lettuce which is also different in chemical composition and onions which are all mixed together.
Elements having different chemical composition when combined together is known as a mixture

2700 is a perfect cube. True/False?​

Answers

Answer: False

Step-by-step explanation:

Answer:

It is false hope this will be

In ΔBCD, the measure of ∠D=90°, BC = 81 feet, and DB = 52 feet. Find the measure of ∠C to the nearest tenth of a degree.

Answers

Answer:

39.9°

Step-by-step explanation:

m∠C = β

sin β = [tex]\frac{52}{81}[/tex] ⇒ β = arcsin [tex]\frac{52}{81}[/tex] ≈ 39.9°

Answer:

39.9

Step-by-step explanation:

sinC=  

sin C = \{52}{81}

sinC=  

81

52

​  

 

C=\sin^{-1}{52}{81})

C=sin  −1 (  81 /52 )

C=39.9393\ 39.9^

C=39.9393≈39.9∘

Please help me out i don’t know what right and left is!!! please tell me :(((

Answers

Answer:

put your fingers out in the shape of L's. Which ever finger has the L facing the proper way, is left, and the other is right.

Step-by-step explanation:

Find the value of a. The diagram is not to scale. ​

Answers

Answer: B. a = 144 degrees

Step-by-step explanation:

180=36+a

144=a

Step-by-step explanation:

hope it's obvious both the reason is being cointerior angle

plz follow me

Will give brainlist. I need help.

Answers

Answer:

6

Step-by-step explanation:

2x6 and then you divide by 1/2 it's just simple math

Answer:

6

Step-by-step explanation:

the formula is base times height times 1/2. The base is 6 the height is 2. Thats 12. Then divide it by (or multiply by 1/2) to get 6:)

i need help what is the answer to this question

Answers

Answer: D

Step-by-step explanation:

Write the slope intercept form of the line that goes through points (5,6) and (2, 15)

Answers

Answer:

[tex]slope \: = \frac{y2 - y1}{x2 - x1 } \\ slope = \frac{15 - 6}{2 - 5} \\ slope = \frac{9}{3} [/tex]

4x =64 find x in exponential equations

Answers

Answer:

X=16

Step-by-step explanation:

4/64

x=16

In the 48 years between 1842, the average rate of erosion at horseshoe falls was 33 divided by 50 metre per year. In the 22 years between 1905 and 1927 the rate of erosion was 7 divided by 10 meter per year . Approximately how much total erosion occurred during these two time periods

Answers

Answer:

47. 08 meters

Step-by-step explanation:

Given that:

In 48 years between 1842 :

Rate of erosion = 33/50 meters per year

Between 1905 - 1927 (22 years)

Rate of erosion = 7/10 meters per year

Approximately how much total erosion occurred during these two time periods ;

Total erosion that occured within 1842:

Rate of erosion * number of years

(33/50)m * 48

0.66 meters * 48

= 31.68 meters

Total erosion that occured between 1905 - 1927:

Rate of erosion * number of years

(7/10)m * 22

0.7 meters * 22

= 15.40 meters

total erosion which occurred during these two time periods ;

31.68 meters + 15.40 meters

= 47.08 meters

Answer:

47. 08 meters

Step-by-step explanation:

Given that:

In 48 years between 1842 :

Rate of erosion = 33/50 meters per year

Between 1905 - 1927 (22 years)

Rate of erosion = 7/10 meters per year

Approximately how much total erosion occurred during these two time periods ;

Total erosion that occured within 1842:

Rate of erosion * number of years

(33/50)m * 48

0.66 meters * 48

= 31.68 meters

Total erosion that occured between 1905 - 1927:

Rate of erosion * number of years

(7/10)m * 22

0.7 meters * 22

= 15.40 meters

total erosion which occurred during these two time periods ;

31.68 meters + 15.40 meters

= 47.08 metersStep-by-step explanation:

90 POINTS! PLEASE HELP!
Select the correct answer What is the solution for x in the equation 5/3 * x + 4 = 2/3* x Ο Α x = 12/7 OB B. x = -4 OC 12/7 OD x = 4

Answers

x=-4  hope it helps! good luck

Please someone help me

Answers

Answer:

D

Step-by-step explanation:

Answer:

uhh what kinda symbols r those

Step-by-step explanation:

You and your friend are trying to meet up at the park. You are currently 256 m directly west from the centre of the park. Your friend is currently 388 m directly north from the centre of the park. What is the distance between you and your friend?

Answers

Answer:

The distance between the two is 465 meters

Step-by-step explanation:

We first need to set up a triangle that shows the relative position and distances of the two friends

Please check attachment for this

To get this distance, which represents the hypotenuse of the triangle, we make use of Pythagoras’ theorem

Mathematically;

Pythagoras’ theorem states that the square of the hypotenuse equals the sum of the squares of the two other sides

Thus;

D^2 = 256^2 + 388^2

D^2 = 216,080

D = √216,080

D = 464.84 which is approximately 465 m

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