Lucas is borrowing money to purchase a vehicle. A car dealership will loan Lucas $18,000 with a simple interest rate of 14.5% applied annually, and a 5-year payout plan. The bank will loan Lucas $18,000 with a compound interest rate of 8.9% applied annually and a 4-year payout plan. What is the difference in the total payback amounts?

Answers

Answer 1

Answer:

Difference in total payback = $5734.64

Step-by-step explanation:

Formula for the simple interest payout,

Interest = [tex]\frac{P\times r\times t}{100}[/tex]

P = Principal amount of loan

r = rate of interest (Annually)

t = Duration for the payment

Interest = [tex]\frac{18000\times 14.5\times 5}{100}[/tex]

             = $13050

Total payable amount = 18000 + 13050

                                     = $31050

Formula for the amount payable with compound interest,

Final amount = [tex]\text{Initial amount}(1+\frac{r}{n})^t[/tex]

Here, t = Duration of investment

r = rate of interest (Annual)

n = Number of compounding per year

Payable amount = [tex]18000(1+\frac{0.089}{1})^4[/tex]

                           = 18000(1.089)⁴

                           = $25315.36

Difference in total payback = $31050 - $25315.36

                                              = $5734.64

Answer 2

If Lucas takes the 5-year payment plan he will end up paying $31,050. If Lucas takes the 4-year payment plan he will end up playing $24,408. Hope it helps.


Related Questions

The shaded portion of the bar model in Part A shows 38. What percent is equivalent to 38? Enter the correct answer in the box.

Answers

Question:

The shaded portion of the bar model in Part A shows 3/8. What percent is equivalent to 3/8? Enter the correct answer in the box.

Answer:

The equivalent is 37.5%

Step-by-step explanation:

Given

[tex]\frac{3}{8}[/tex]

Required

The equivalent

The model is not shown, but the question can still be solved.

We have:

[tex]\frac{3}{8}[/tex]

Multiply by 100%

[tex]\frac{3}{8} = \frac{3}{8} * 100\%[/tex]

[tex]\frac{3}{8} = 0.375 * 100\%[/tex]

[tex]\frac{3}{8} = 37.5\%[/tex]

In AIJK, the measure of ZK=90°, the measure of ZI=46°, and IJ = 9.2 feet. Find the
length of JK to the nearest tenth of a foot.
J
9.2
X
46
K

Answers

Answer: 6.6

Step-by-step explanation:

Ivan had 1,500 flyers printed to announce the opening of his new coffee shop. He paid $0.06 per flyer he's paying his friends $0.25 cents per flyer to deliver them. How much will Ivan pay to have all the flyers printed and delivery

Answers

25+6=31
So you have to multiply 0.36 by 1500 to get your answer
Answer is 540
Plz correct me if I’m wrong

Can someone helpppp plssss

Answers

Answer:

angleQ+angleR is 180degrees because of the properties of isoceles trapezoid. So, if you set equation and solve, you'll get the fact that x is 12, and angleR is 130degrees, and angleQ is 50degrees. According to the properties of isoceles trapezoid, angleQ is the same as angleT. So, angleT is 50degrees

Answer:

Step-by-step explanation:

Figure A is a scale image of Figure B.

Answers

Answer:

x = 5.4

Step-by-step explanation:

Corresponding sides are in proportion, that is

[tex]\frac{x}{7.2}[/tex] = [tex]\frac{3}{4}[/tex] ( cross- multiply )

4x = 21.6 ( divide both sides by 4 )

x = 5.4

|(x-19)+11| considr all posibilyties

ill give you brainlyest

Answers

Answer: Here Is the answer

Step-by-step explanation: hoep this helps :)

Alejandra plans to sew fringe on a scarf. The scarf is shaped like a rectangle. The length of the scarf is 44 inches. The width is one half the length.

Answers

Answer:

Total fringe needed = 132 inches

Step-by-step explanation:

P.S - The exact question is -

Given - Alejandra plans to sew fringe on a scarf. The scarf is shaped like a rectangle. The length of the scarf is 44 inches. The width is one half the length.

To find - How much fringe does Alejandra need?

Proof -

Total fringe needed = Perimeter of the rectangle.

Now,

We know that,

Perimeter of the Rectangle = 2(Length + Width)

Now,

Given that,

Length = 44 inches

Width = one half the length

          = [tex]\frac{1}{2}[/tex] × 44 = 22 inches

⇒Width = 22 inches

∴ we get

Perimeter of the Rectangle = 2(44 + 22)

                                             = 2(66) = 132 inches

⇒Perimeter of Rectangle = 132 inches

∴ we get

Total fringe needed = Perimeter of the rectangle = 132 inches

⇒Total fringe needed = 132 inches

(50pts) The distance covered and the time taken by a car are plotted in a graph.


a. Find the slope of the line in the graph.
b. Calculate the distance traveled by the car at the 20th second.
c. Calculate the speed of the car.

Answers

Answer:

a=2

b=40m

c=2m/s

Step-by-step explanation:

slope is rise over run so 10/5 simplified is 2/1 or 2

for b just look at the graph at the 20th second

for c you do distance over time so basically the same thing as a 10/5 which is 2m/s

i need the answerrrrr

Answers

Answer:

the distance between the points is 9.84885780 and so on so if you round to the nearest tenth it would be 9.8 :)

Step-by-step explanation:

12x - 6y = 13
8x - 4y = -21

Answers

Answer:

24

Step-by-step explanation:

24

PLZZZ HELP. Celeste makes 6% Commission on her sales, if her sales for a week total %4580 what is her commission
1. $274
2. $274.50
3. $275.80
4. $272.00

Answers

Answer: 3

Step-by-step explanation:

PLZ IF RIGHT I WILL GIVE BRAINLIST: One year, the population of a city was 64,000. Several years later it was 53,120. Find the percent decrease.
Ans=______%

Answers

the answer is it decreased 17%

im not 100% btw



Find the answer To Y

Answers

Answer:

I think the answer is y=5x-15

or

y=2x-6

help meeeeeee. /.............................

Answers

Answer:

1 + y < -13

Step-by-step explanation:

1 + y < -13

1 and a number, y, is less than -13

Solve the system of linear equations by substitution.
3x – 2y = 23
x + 2y = 13
The solution of the system is

Answers

Answer:

point form : (9,2) equation form : x=9 y=2

Step-by-step explanation:

HELP PLZ

1. A new bicycle sells for $300. It is on sale for off the regular price. Select all the
expressions that represent the sale price of the bicycle in dollars.
A. 300 •1/4
B. 300 • 3/4
C. 300 - (1 - 1/4)
D. 300 – 1/4
E. 300 – 1/4•300

Answers

The answer is a.............

Answer:

Step-by-step explanation:

All of them beside D and A

• How much do customers have to spend in order to raise $1,000 for the pet rescue program? Amount Spent (dollars) 120 Amount Donated (dollars) 1000

Answers

Complete question :

a pet store had a special offer this weekend. for every $120 that customers spend, $3 is donated to a pet rescue program. How much do customers have to spend in order to raise $1000 for the pet rescue program?

Answer:

$40000

Step-by-step explanation:

Offer :

For every $120 spent ; $3 is donated

In other to raise $1000 ; $x would have to be spent ; we can obtain the value of x using cross multiplication ;

$120 = $3

$x = $1000

Cross multiply

$(120 * 1000) = $3 * x

$120000 = $3x

x = 120000 / 3

x = 40,000

Hence, in other to raise $1000 ; $40000 would have to be spent by customers.

What is the classification for this polynomial? 6xyz + xy Click on the correct answer. monomial binomial trinomial​

Answers

Answer:

Binomial

Step-by-step explanation:

the polynomial has two terms 6xyz and  xy

This graph represents the path of a baseball hit during practice.

Downward opening parabola with (0,0.5), (6.16, 0) and vertex (3,5)

What does the x-value of the vertex represent?

Question 1 options:

the maximum height of the baseball


ground level


the time the baseball was hit


the time the baseball reached its maximum height

Answers

Answer:

Step-by-step explanation:

x-coordinate of the vertex is the time the baseball reaches maximum height.

The figure is not drawn to scale. PQ and MN are straight lines.
Find ZZ
helpppp

Answers

180-135=45

45+z+87=180
132+z=180
z=48

Plz show your work.

Answers

Answer:

look at the picture i sent.......

4=2/9x A) 6 B) 9 C) 15 D) 18

Answers

Answer:

D. 18

Step-by-step explanation:

multiply both sides by 9/2, the reciprocal of 2/9.

4×(9/2)=x

express 4×(9/2) as a single fraction.

4×9/2=x

multiply 4 and 9 to get 36.

36/2=x

divide 36 by 2 to get 18.

18=x

swap sides so that all variable terms are on the left hand side.

x=18

Answer:

D 18

Step-by-step explanation:

you devide 4 by 2/9 and get your answer

Please help NO LINKS!!!

Answers

Answer:

Step-by-step explanation:

base = 7 units

height = 12 unit

Area of triangle = [tex]\frac{1}{2}*base * height\\[/tex]

                          [tex]= \frac{1}{2}*12*7\\\\=6 * 7 \\= 42 unit^{2}[/tex]

PLS HELP!!! 7TH GRADE MATH

Answers

Answer:

The first picture is 72 ft²

Step-by-step explanation:

Answer for 1:

242

Answer for 2:

214.57

Answer for 3:

88.79

Explanation:

I used Goggle

Which is more, 1 quart or 3 cups?

Answers

Answer:

1 quart is more.

Step-by-step explanation:

1 quart =4cups so 1 quart is more.

Answer:

1 liquid quart is more then 3 cups because 1 quart is the same as 4 cups and 4 cups is more then 3 cups...

Write the standard equation of a circle with center (-2, -1) and radius 2.

Answers

Answer:

(x+2)^2+(y+1)^2=4

Step-by-step explanation:

(x-h)^2+(y-k)^2=r^2 is the standard equation for a circle

Plug in point at (h,k) Negative points= positive in equation due to (x-h),(y-k) All equal to radius squared

IM GIVING BRAINLIEST!!!PLEASE HELP!!:)I PROMISE!!!

Answers

Answer is A. To simplify you multiply numerator and denominator by the conjugate of the denominator.
I am 99% sure. Good luck.

PLZ HELP WITH MATH!!!

Answers

Answer:

128 in.^2?

Step-by-step explanation:

a rectangle is also a parallelogram, so find the area of the rectangles.

if it is a 30-60-90 triangle, 8 inches is x, and to find the sides, it is either (x)sqrt(3), or in this case, 2x, so 16x8= 128?

Half the number of guesses are
less than what number?

Answers

Answer:

C. 74

Step-by-step explanation:

add up all the numbers but not the value so you have 18 numbers. divide that by 2 and get 9. so 74 is between 73 and 78 so it divides the 18 numbers evenly into 9 and 9.

the graph of y=x^2-4x is shown. name a zero of the function below

Answers

Answer:

0 and 4

Step-by-step explanation:

y = x^2 - 4x can be factored as follows:  y = x(x - 4).

We find the zeros by setting this factored form equal to zero and solving for x:

x(x - 4) = 0, or x = 0, or x = 4.

The two zeros of this function are 0 and 4.

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