Big Ed’s car dealership is running a special on 2008 trucks. Big Ed offers financing at a rate of 6.71% on a loan with a term of 36 months, but he requires

6 answers
Question:

Big Ed’s car dealership is running a special on 2008 trucks. Big Ed offers financing at a rate of 6.71% on a loan with a term of 36 months, but he requires the customer to make a down payment of 15% of the cost of the vehicle. You are interested in a Car Crusher truck that costs $25,230. Not including the down payment, how much will you pay over the lifetime of the loan?

Answers

C

Step-by-step explanation:

25,230 x .15= 3,784.50

25,230- 3,784.50= 21,535

21,535/36= 598.20833

598.20833 x 1.0671= 638.348109

638.348109 x 36= 22,980.5319

a

Step-by-step explanation:

JUST TOOK THE TEST

Letter C $23,735.84.The result varies a few dollars, because during the solution an adjustment was made to the decimals.

Step-by-step explanation:

1. Define the price of the vehicle you are going to buy with the dealer or seller

Principal: $25230

Rate= 6.71%

N= 36 months

Down payment=15% of the cost of the vehicle= (25230*0.15)=$3784.50

25230-3784.50=21445.5

2. Apply the amortization formula to determine the monthly payments. With this taxation, you will determine the payments applied to the principal and the copper of interest.

A=P*(r(1+r)^{n})/((1+r)^{n}-1).

A= amortization or monthly payments.

P=Principal

R=interest rate

N= the total number of months

a.Calculate the monthly interest rate. The annual interest rate is 6.71% percent. Divide it by 12 to get the monthly interest rate. The monthly interest rate is 0.5592 percent (6.71/12 = 0.5592)  

A=21445.5*(0,005592 (1+0,005592)^{{36}})/(1+0,005592)^{{36}}-1.

A=21445.5*(0,00683/0,2223)

A=21445.5*0,03072=658.90

Total of the payment= 658.90*36=23720.40

Present value of annuity is given by PV = P(1 - (1 + r)^-n)/r
25230 = P(1 - (1 + 0.0671/12)^-36)/(0.0671/12)
P = 0.0671(25230) / 12(1 - (1 + 0.0671/12)^-36) = 775.69

Therefore, you pay 36 x 775.69 = $27,924.84 over the life time of the loan.

36 girls

step-by-step explanation:

the 48 boys is 4 parts of the ratio

divide 48 by 4 to obtain one part of the ratio

[tex]\frac{48}{4}[/tex] = 12 ← 1 part of the ratio

3 parts = 3 × 12 = 36 ← number of girls

85.560%

step-by-step explanation:

conditional probability is defined as:

p(a|b) = p(a∩b) / p(b)

in other words, the probability that a occurs, given that b has occurred = the probability that both a and b occur / the probability that b occurs.

in this example:

p(turns 64 | turns 44) = p(turns 64 & turns 44) / p(turns 44).

if someone turns 64, they must have already turned 44, so:

p(turns 64 | turns 44) = p(turns 64) / p(turns 44)

on page 42, we see that of the original 100,000, 94944 turn 44, and 81234 turn 64.   therefore:

p(turns 64 | turns 44) = 81234 / 94944

p(turns 64 | turns 44) = 0.85560

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