Nathan Reynolds bought a car for $15,000. He made a down payment of $3,000. Nathan secured a loan for the balance of the purchase price at 8 percent interest for four years.
determine the monthly payment and total interest

Answers

Answer 1

Answer:

1) The monthly payment is approximately $292.96

2) The total interest is approximately $2,061.84

Step-by-step explanation:

1) The financing method Nathan Reynolds applied to buy the car is given as follows;

The purchase price of the car = $15,000

The down payment made for the car = $3,000

The

The interest on the loan he took for the balance of the purchase price, R = 8%

The number of years for which he took the loan, n = 4 years = 48 months

We have;

The balance of the purchase price = (The purchase price of the car) - (The down payment made for the car)

∴ The balance of the purchase price = $15,000 - $3,000 = $12,000

The balance of the purchase price = $12,000 = The loan Nathan secured

The monthly payment on a loan is given by the following formula

[tex]A = P \times \dfrac{r \cdot (1 + r)^n}{(1 + r)^n - 1}[/tex]

Where;

A = The payment amount made  monthly

P = The principal or loan amount = $12,000

r = The interest rate divided by 12 = R/12 = 8/12 = 2/3

n = The number of months the monthly payment will be made = 48 months

By plugging in the variable values, we get;

[tex]A = 12,000 \times \dfrac{\dfrac{2}{300} \times \left (1 + \dfrac{2}{300} \right ) ^{48}}{ \left (1 + \dfrac{2}{300} \right )^{48} - 1} = 292.955068099 \approx 292.96[/tex]

Therefore, the payment amount made  monthly, A ≈ $292.96

2) The total payment made in the 48 months = A × 48 = 292.955068099 × 48 ≈ 14,061.84

The total payment made in the 48 months ≈ $14,061.84

The total interest = (The total payment made in the 48 months) - (The loan amount)

∴ The total interest = $14,061.84 - $12,000 ≈ $2,061.84


Related Questions

in △ABC the measure of angle A is 2x + 3, the measure of angle B is 4x + 2, and the measure of angle C is 2x - 1. what are the measures of the angles?

Answers

All angles in a triangle add to 180. So, we must add all those expressions together and set them equal to 180.

2x+3+4x+2+2x-1=180
Now we combine like terms (2x+4x+3x is 8x, 3+2-1 is 4)
8x+4=180
Now subtract 4 from both sides (4-4 is 0, 180-4 is 176)
8x=176
Now divide both sides by 8.
x=22.

Now substitute 22 wherever you see x in each expression.

2x+3 = 2(22)+3 = 44+ 3 = 47
4x+2 = 4(22)+2 = 88+2 = 90
2x-1 = 2(22)-1 = 44-1 = 43

So the final answer is A=47°, B=90°, C=43°

To check, add these numbers together and see if they equal 180.

90+43+47 is 180, so the answers are correct.

what is the geometric mean of 2 and 14​

Answers

Answer:

8!

Step-by-step explanation:

add them together to get 16 then divide by 2 (the number of numbers you added) and you get 8!

Hope that helps, please mark me brainliest if it does :)

Answer:

Answer is 5.3

Step-by-step explanation:

I hope it's helpful!

Discussion Topic You have used the Distributive Property to transform numerical expressions such as (5)(3) + (2)(3) to (5 + 2)(3). How would you transform 5x + 2x into a single term? Substitute five different values into the expressions 5x + 2x and 7x - 1. What do you notice about the values of the expressions? Is there any value that would make the two expressions equal? Why or why not?

Answers

Answer:

b

Step-by-step explanation:

Round 1.983 to the nearest hundredth

Answers

Answer:

1.98

Step-by-step explanation:

Find the number in the hundredth place 8 and look one place to the right for the rounding digit 3. Round up if this number is greater than or equal to 5 and round down if it is less than 5.

A shipping box is in the shape of a rectangular prism. It has a volume of 9,000 in.3, and the dimensions of the base are 20 in. by 30 in. What is the height of the box?

Answers

Answer:

A closed box is to be made in the shape of a cuboid of height h (in cm) with a rectangular base that has sides of length x (in cm) and 2x (in cm). Its volume is required to be `1000 cm^3

The height of the shipping box is 15 inches.

What is volume of rectangular prism?

The volume of a rectangular prism: length x width x height. The volume is expressed in cubic units.

given:

Volume = 9000 cubic inches

Base dimensions = 20 inches by 30 inches

Now, Volume = Base Area * Height

Height = Volume/Base Area

Height = 9000/(20 * 30)

Height = 15 in

Hence, the height of the shipping box in the shape of a rectangular prism is 15 inches.

Learn more about volume here:

brainly.com/question/1972490

#SPJ2

PLZZZZZZZZZ HELPPPPP

Answers

Answer:

Step-by-step explanation:

(-3,0)

(0,2)

(6,6)

a) Andrés construye cajas de diferente base. Utiliza poligonos regulares, la longitud de sus lados es la misma Adomna
1. Analiza la siguiente situación y realiza lo que se te pide:
el contorno de las tapas con liston dorado.
• Completa la siguiente tabla que elaboró para su presupuesto de materiales:
- Polígono
5
8
(lados)
Perimetro
24
30
36
(cm)
4
50
¿Cuántos centimetros mide cada lado de la tapa?
* Como encontraste el valor anterior?
¿Qué relación tiene el número de lados con el perimetro?
¿Cuál seria el perimetro de una figura de tres lados? amigos me pueden ayudar es importante ​

Answers

Respuesta:

la tapa mide 6 centimetros,sobre la tabla aumenta de 6 en 6

Explicación paso a paso:vas dividir 24 que es el valor de el perimetro entre 4 porque es la cantidad de lados al dividirlo te va a dar 6 que indica que aumenta de 6 en 6 tambien en la tabla cuando son 4 lados son 24 de perimetro y en el siguiente viene que 5 son 30 :)

ojala te ayude friend :-}

Which expression has a solution of 27, if r = 3?

Answers

Answer:

rx9

Step-by-step explanation:

9x3=27

Answer:

9r = 27

Step-by-step explanation:

Have a great day <3

Find the value of x and the measure of the angle labeled 3x.
A. x= 14; angle measure is 30°
B. x = 10; angle measure is 42".
C. x = 14; angle measure is 42"
D. x = 10; angle measure is 30°

Answers

Answer:

D

Step-by-step explanation:

3x and 30 are vertically opposite angles and congruent, then

3x = 30 ( divide both sides by 3 )

x = 10 , thus

3x = 3 × 10 = 30°

x = 10 ; angle measure is 30° → D

Answer:

the answer is D, x= 10;angle measure is 30°

3. A building stands on level ground. The measure of the angle of elevation of the top of the building, taken at a
point 400 feet from the foot of the building, is 31 degrees. Find, to the nearest tenth of a foot, the height of the
building

Answers

Answer:

12,400

Step-by-step explanation:

so what you are going to first is 400 times 31 which is 12,400

550 + 550 + 650 + 550 + 600 = ?

Answers

Answer:

2,900

Step-by-step explanation:

The length of a rectangle is five times the width the area is 125 cm² what is the length

Answers

Answer:

Length: 25

Step-by-step explanation:

the ratio we use is 5:1

125÷5=25

5 is the width and 25 is the length

to check the answer find the area with those measurements

5x25=125 so its correct

Wallace has 1/2 gallon of milk. He wants to pour it into 4 smaller containers putting the same amount in each container

Answers

Answer: c. 1/2 /4

Step-by-step explanation:

There is a 1/2 gallon of milk.

This 1/2 gallon is pour in equal amounts into 4 small containers which means the 1/2 gallon was divided into 4 places.

Formula is therefore:

= 1/2 ÷ 4

= 1/2 /4

When solved you will get a result of:

= 1/8 gallons

Do not, I repeat DO NOT ANSWER THIS QUESTION!!!! It is experimental, and I need to answer it with my other account, so please DO NOT ANSWER THIS!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

tfgvftydgxchtfg

Step-by-step explanation:

An ordinary dice is rolled. What is the probability that the number
of dots on the upper face is -
(a) 3
(c) an even no
(b) less than 3
(d) 7​

Answers

Answer:

A) 1/6

B) 1/3

C)1/2

D) 1/6

Answer:

1/6 , 1/3 , 1/2 , 0

Step by Step Explanation:

An ordinary die has numbers from 1 to 6

Number of dots on the face = number that face represent

Dots on face can be 1 , 2 , 3 , 4 , 5 , 6

1. Number of 3 Dots

Probaility = 1/6

2. Number of Dots less than 3 = 1 or 2 Dots

Probability = 2/6 = 1/3

3 . An even number = 2 , 4 , 6

Probability = 3/6 = 1/2

4 7 Dots not possible Hence

Probability = 0

Learn more:

A die is rolled. What is the probability that the number appearing on ...

brainly.in/question/4334466

An unbiased die is thrown .what is the probability of getting a ...

brainly.in/question/7707663

Could you help me please ?

Answers

Answer:

she messed up on the part where u need to cube root the solution she should of gotten 6 from the 4.

1 and 1/3 - 5/6
(ill mark when 2 answers)
(have a good day )
(HELP MEH PLZZ)

Answers

Answer:

1 1/3 - 5/6 = 1/2

Step-by-step explanation:

First we will need to make a common denominator on both sides, so since we have the second side divided in six, we can do the same to the first side as shown;

1/3 = 2/6

now this will help us a lot, now all we have to do is take what we can out of the fraction (2/6) out of the first side so it is equal to 0, NOTE this is not a professional way to do it but it helps me a lot;

5/6 - 2/6 = 3/6

this makes it easy all of a sudden, cause now its in a simpler form, we can tell this because we know that 3/6 is equal to 1/2, so now all we have to do is take 1/2 from our 1 that we are left over with, and VWOLA;

1 - 1/2 = 1/2

GRAND TOTAL;

1 1/3 - 5/6 = 1/2

(note: the space between the 1 and the 1/3 indicates that they are two separate numbers, so you dont have to put the 'and' there)

Can someone solve these for me I have no idea what to do and it has to be turns in within an hour

Answers

Answer:

Step-by-step explanation:

Subtract second equation from first equation to eliminate x

2x+6y-2x+10y=17-9

16y=8

y=1/2, use either original equation to solve for x

2x+6y=17 becomes

2x+6(1/2)=17

2x+3=17

2x=14

x=7 so the solution is the point (7, 1/2)

We can multiply the first by -2 and add it to second equation to eliminate x.

-2(3x-4y)+6x+3y=-2(-10)-42

-6x+8y+6x+3y=20-42

11y=-22

y=-2 using 3x-4y=-10 becomes

3x-4(-2)=-10

3x+8=-10

3x=-18

x=-6 so the solution is the point (-6,-2)

So you should be able to see how to solve the other two.

Answer:

Question 1: x = 7, y = [tex]\frac{1}{2}[/tex]

Question 2: x = -6, y = -2

Question 3: x = -1, y = 9

Question 4: There is no solution.

solve 2|x+8|-6<16

Please help thanks!

Answers

Answer: Inequality form : -19<x>3

interval notation:

(--19,3)

Step-by-step explanation:

2x +3y = 12

Complete the missing value in the solution to the equation

(__, 8)​

Answers

Answer:

The two solutions of the equation is (0,-4)(6,0).

what is
(7x3)-2(5+1)+4

Answers

Answer:

13

Step-by-step explanation:

(7x3)-2(5+1)+4=13

How many solutions does this is have
6(x - 6)+ 26=6x - 10
Show all work please!

Answers

Answer:

All numbers are solutions. You can try this yourself by inserting numbers in.

Step-by-step explanation:

Find (-5x + 6) - (-2x - 7)

Answers

The answer is: -3x +13

The expression (2x+2x)+(5x+5x)+(1+1) represents the perimeter of a triangle. Select the answer below which shows this expression in simplest form.

HINT: Simplest form means combined 'like' terms.

100 Points
A
14x + 2

B
16x

C
40x + 2

D
16

Answers

Answer:

A) 14x + 2

Step-by-step explanation:

(2x + 2x) + (5x + 5x) + (1 + 1)

= 4x + 10x + 2

= 14x + 2

You can only add 4x and 10x since they both have a variable (x). You cannot add 2 since 2 doesn't have a variable, so the answer in simplest form is 14x + 2

How do I graph y=x-3 and y=-2x+6

Answers

Answer:

you can use a graphing calc

Step-by-step explanation:

Please find the sum for 2/8 + 3/6 hurry please

Answers

Answer:

0.75

Step-by-step explanation:

hope this helps you

Hey please help me please

Answers

Answer:

c

Step-by-step explanation:

360 is a full rotation and 90 is a quarter

Answer: C

Step-by-step explanation:

please help, this is really important if you could show work that would be amazing :))

Answers

Step-by-step explanation:

step 1. x = 70° (alternate interior angles)

step 2. y = 90° (same side interior angles).

I have only 10 points plus give me the right answer this is the last I’m gonna ask but pls help just answer the blank question

Answers

15

I guess so

Hope it is correct

Find the volume of a cylinder with height = 10ft and the diameter of the base circle is 12ft.

Answers

Answer:

The answer is 1130.97

Step-by-step explanation:

The formula that I used

V=πr2h

Volume = π·62·10 ≈ 1130.97336

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