MATHEMATICS HIGH SCHOOL

WILL GIVE BRAINLIESTExample 2: Leonardo saw the new sound system he wanted for $2623.95, including taxes. He had to buy it on

credit and had two options:

-

Use his new bank credit card, which has an interest rate of 14.5% compounding daily (Because the this

credit card is new, he has no outstanding balance from the previous month)

Apply for the store credit card, which offers an immediate rebate of $100 on the price, but has an interest

rate of 19.3%, compounded daily.

As with most credit cards, Leonardo would not pay any interest if he paid off the balance before the due date on

his first statement. However, he cannot afford to do this. Both cards require a minimum monthly payment of 2.1%

on the outstanding balance, but Leonardo is confident that he can make regular payments of $110.

Answers

Answer 1

Answer:

Answer:

assuming 30 day months:

Leonardo can pay up to $110 per month

credit card

daily interest = 14.5% / 360 = 0.040278%

monthly interest = (1 + 0.040278%)³⁰ - 1 = 1.2154%

I prepared an amortization schedule using an excel spreadsheet

It will take Leonardo 29 months to completely pay off his debt. The last payment will only be $37. Leonardo will be able to save $65 on his last payment if he uses his credit card.

store credit

daily interest = 19.3% / 360 = 0.05361%

monthly interest = (1 + 0.05361%)³⁰ - 1 = 1.6209%

principal will be $100 lower, $2,523.95

I prepared an amortization schedule using an excel spreadsheet

It will also take Leonardo 29 months to completely pay off his debt, but the last payment will be $102, which is higher than the $37 that he would need to pay using a credit card.

Related Questions

Tricia manages the front office at a local doctor’s office and needs to figure out payroll for the front office clerk that is paid hourly. Tricia also hasto make sure that she keeps the front office clerk under 40 hours a week to avoid overtime pay. After reading the problem, what are you being asked to do? What information are you provided? What mathematical operation applies (addition, subtraction, multiplication or division) and write your equation in the box below. What are the steps to solve the problem? What is the answer to the question? Does your answer make sense? Why? The front office clerks time sheet reads as follows: Monday 480 minutes Monday 480 minutes Tuesday 450 minutes Tuesday 480 minutes Wednesday 495 minutes Wednesday 480 minutes Thursday 480 minutes Thursday 480 minutes Friday 300 minutes Friday 480 minutes Does Tricia need to pay the front desk office clerk overtime? After reading the problem, what are you being asked to do? What information are you provided? What mathematical operation applies (addition, subtraction, multiplication or division) and write your equation in the box below What are the steps to solve the problem? What is the answer to the question? Does your answer make sense? Why?
The price of a gallon of unleaded gas was $2.80 yesterday. Today, the price rose to $2.87 . Find the percentage increase. Round your answer to the nearest tenth of a percent.
What is anequation of the line that passes through the points (0,6) and (-3,2)?
Find the slope of the line containing the pair of points.(-10,-3) and (-12,-10)the slope of the line is...........???
X = -3 + 5y - 6 for y

15•(3 + b) = 45 + bUse properties and definitions of operations to show that the statement is true. Justify each step.

Answers

subtract 15 from both sides that gets rid of 15 and your left with 3b =30b divide 3 on both sides and the answer is 10

What is 5-(n-4)=3(n+2)?

Answers

Answer:

-3n-6

Step-by-step explanation:

multiply each term by 3

-3(n+2)

-3n-3*2

-3n-6

Question 24 Multiple Choice Worth 1 points)(8.01 MC)
Two lines, A and B, are represented by equations given below:
Line A: y = x - 4
Line B: y = 3x + 4
Which of the following shows the solution to the system of equations and explains why?
0 (-3,-5), because the point satisfies one of the equations
0 (-3,-5), because the point lies between the two axes
(-4,-8), because the point satisfies both equations
(-4, -8), because the point does not lie on any axis

Answers

Given:

The system of equations is:

Line A: $y=x-4$

Line B: $y=3x+4$

To find:

The solution of given system of equations.

Solution:

We have,

$y=x-4$ ...(i)

$y=3x+4$ ...(ii)

Equating (i) and (ii), we get

$x-4=3x+4$

$-4-4=3x-x$

$-8=2x$

Divide both sides by 2.

$-4=x$

Substituting $x=-4$ in (i), we get

$y=-4-4$

$y=-8$

The solution of system of equations is (-4,-8).

Now verify the solution by substituting $x=-4, y=-8$ in the given equations.

$-8=-4-4$

$-8=-8$

This statement is true.

Similarly,

$-8=3(-4)+4$

$-8=-12+4$

$-8=-8$

This statement is also true.

Therefore, (-4,-8) is a solution of the given system of equations, because the point satisfies both equations. Hence, the correct option is C.

Which of the following is the rational exponent expression of fifth root of 7 n?

Answers

The rational exponent expression of $\sqrt[5]{7n}$ will be $(7n)^(1)/(5)$ .

What is rational exponent ?

Rational exponent are exponents of numbers that are expressed as rational numbers, that is, in $a^{(p)/(q) }$ form.

i.e. $a^{(p)/(q) }=\sqrt[q]{a^n}$

We have,

$\sqrt[5]{7n}$

so, Using the mentioned formula,

$a^{(p)/(q) }=\sqrt[q]{a^n}$

$\sqrt[5]{7n}=(7n)^(1)/(5)$

So, this is the rational expression $(7n)^(1)/(5)$ using above mentioned formula.

Hence, we can say that the rational exponent expression of $\sqrt[5]{7n}$ will be $(7n)^(1)/(5)$ .

To know more about rational expression click here

brainly.com/question/11790376

#SPJ3

5n7 (7n)5 7 times n to the one fifth power quantity of 7n to the one fifth power

4. Estimate the sum of 9.327 + 5.72 + 4.132 to one decimal place.18.729

Answers

Answer:

Hence, the estimate value of 9.327 + 5.72 + 4.132 to one decimal place is:

19.2

Step-by-step explanation:

We have to Estimate the sum of 9.327 + 5.72 + 4.132 to one decimal place

We find the sum of these numbers:

Sum= 9.327+5.72+4.132

= 19.179

Now we have to estimate the value to one decimal place

so, on approximating the value, we get the sum=19.2

Hence, the estimate value of 9.327 + 5.72 + 4.132 to one decimal place is:

19.2

The sum for those numbers is 19.179 NOT 18.729. HOWEVER the Estimation of the sum and the answer for this question is 19.2 because the decimal place you are finding has a number to its right that is greater to that decimal place so you add the one to the decimal place you are finding.

A case of Mountain Dew (24cans) costs $7.68. What is the unit price?

Answers

Here are the unit rates involved:

$7.68 / 1 case = $7.68 per case

$7.68 / 24 cans = $0.32 per can

1 case / $7.68 = 0.13 case per $

24 cans / $7.68 = 3.125 cans per $

And of course ...

24 cans / 1 case = 24 cans per case

1 case / 24 cans = 0.041666... case per can

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