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

Erika decided to compare her observations to the average annual trend, which shows the water rising 1.8 mm/year. Remember, she used 6.2 years as her time period. Explain how she would calculate the difference between how much the water level fell in the part of the river she observed.

Answers

Answer:

Change in water level over thr period Given is 11.16 mm

Step-by-step explanation:

The change in water level. In the part of the river observed will be ;

Water level. = The rate of change in water level per year * period

Rate of change in water level = 1.8mm /year

Number of years = 6.2

The change in water level is thus :

1.8 mm / year * 6.2 years

= (1.8 mm / year * 6.2

= 11.16 mm

In the last 4 seasons, Luis scored 14,18, 15, and 25 goals. How many goals does he need to score this year, to end the season with an overall average of 20 goals per season? O A. 29 O B. 27 O C. 30 O D. 28​

Answers

Answer:

28

Step-by-step explanation:

For Luis to get a mean of 20 he would need:

14 + 18 + 15 + 25 + x (unknown number of goal he needs) / 5 = 20

Therefore 14 + 18 + 15 + 25 + x = 100

Solve for x to get 28

Need help so confusing whats the answer

no spam

Answers

Answer:

Volume of the cone V》1570 cm^3

Volume of the hemisphere V》4186.67cm^3

Volume of the entire figure V》5756.67cm^3

hope it helps...

hope it helps...have a great day !!

Solve for X (In the Diagram)
Hope y'all are having a good day!!

Answers

Answer:

C: 10

Step-by-step explanation:

I multiplied the two of them. And that triangle is 90 degrees

Help me please please

Answers

Question 2 is b i think

i really need help on this question!!!!

Answers

Answer:

B. Point M

Step-by-step explanation:

Point N (-4, 2) is 4 units away from the y axis, going left

Point M (-4, -2) is also 4 units away from the y axis, going left

If you left a $25.00 on your table for a $21.50 meal, what was the percent of the tip?

Answers

Answer:

It was a 16.5% tip!

Please mark brainliest and I hope this answer helped :)

Line segment t and line segment r are parallel. Both line segments are reflected across the y-axis to form line segments t' and r'.



Enter the distance, in units, between line segments t' and r'.
units

Answers

Answer:/

I,,,,M SORRYI NEED POINTSSS

Step-by-step explanation:

           

How long is side c ? ​

Answers

Answer:

you do pythagorean theorem

Step-by-step explanation:

the base is 8 and the side length is 6 so you do 8²+6²

8²=64 +6²=36

64+36=100 you have to square 100 which is 10

C=10

Without solving determine the number of real solutions for each quadratic equation
b^2-4b+3=0
2n^2 + 7 = -4n + 5
x - 3x^2 = 5+ 2x - x^2

Answers

Answer:

Complete the square to determine the number of solutions

#1

b² -4b + 3 = 0b² - 4b + 4 = 1(b - 2)² = 1Two solutions

#2

2n² + 7 = -4n + 52n² + 4n + 2 = 0n² + 2n + 1 = 0(n + 1)² = 0One solution

#3

x - 3x² = 5 + 2x - x²3x² - x² + 2x - x + 5 = 02x² + x + 5 = 0x² + x² + 2*1/2x + 1/4 + 4 3/4 = 0x² + (x + 1/2)² + 4 3/4 = 0No solutions

Answer:

b^2-4b+3=0

b²-3x-b+3=0

b(b-3)-1(b-3)=0

(b-3)(b-1)=0

either

b=3 or b=1

.

2n^2 + 7 = -4n + 5

2n²+4n+7-5=0

2n²+4n+2=0

2(n²+2n+1)=0

(n+1)²=0/2

:.n=-1

.

x - 3x^2 = 5+ 2x - x^2

0=5+ 2x - x^2-x +3x^2

0=5+x+2x²

2x²+x+5=0

comparing above equation with ax²+bx +c we get

a=2

b=1

c=5

x={-b±√(b²-4ac)}/2a ={-1±√(1²-4×2×5)}/2×1

={-1±√-39}/2

Solve each equation and check your answer.
2x + 4(3-2x) =
3(2x + 2)
+4
6
X =
Please help

Answers

2x + 4(3-2x) =
2x + 12-8x =
2x-8x= -12
-6x= -12
x=2

Trisha borrowed money from her mom to buy a skateboard plus safety gear. She paid back a little bit of money every week.

After 3 weeks she owed her mom $281. After 8 weeks, she owed her mom $166. Let y represent the amount she owes her mom and x represent the number of weeks she has been paying her debt.

Write an equation in slope-intercept form to represent how much she owes her mom after x weeks.


y=


How much money is Trisha paying her mom each week? $

How long will it take Trisha to pay off her debt?
weeks (answer in whole weeks)

Answers

Answer:

y==$281+$166=$447

in 11 weeks she pay $ 447

in 1 weeks she pay $447/11=40.6$

she paid off in 3+8=11 weeks

I am not sure

Answer:

Thanks for the points it feels really nice to help others

Step-by-step explanation:

find the value of given expression

[tex] \sqrt{258 \times 258} [/tex]


Answers

Answer:

258

Step-by-step explanation:

Simplify the radical by breaking the radicand up into a product of known factors, assuming positive real numbers.

Answer:

√{258×258}=√258²=258 is your answer

Is 1.4, 4.8, 5 a right triangle?

Answers

Answer:

Yes it is possible

Step-by-step explanation:

CAN SOMEONE PLEASE HELP I WILL GIVE 50 POINTS

Answers

Answer:

yes I will help you just give the question

Write a real world problem for: 80-3x=53

Answers

Answer:

Sam had 80 dollars in his pocket. He was feeling generous, so he handed out equal amount of money to each of his friends. After he handed out the money, he had 53 dollars left. How much did Sam give out to each one of his friends?

Step-by-step explanation:

In this real-world problem, the money he had at the beginning resembles the 80 in the equation. The -3x is the money he gives out to each of his friends. The 53 on the right-hand side is the money he has left after he gives the money away.

A school has 1200 students 1/3 are in the upper school. 2/5 in the middle school and the remainder in lower school. How many students are in lower school?

Answers

Answer:

257 students in the lower school

Step-by-step explanation:

you want to make the fractions have an equal denominator so make 1/3 5/15s and 2/5 to 6/15's, 5+6= 11/15s that leaves 4/15's for the lower part of the school

4 divided by 15 is 4.6 repeating so divide 1200 by 4.66 and boom

I WILL GIVE BRAINLIEST!!!

Answers

Answer:

C

Step-by-step explanation:

The area is calculated as width × length , that is

[tex]\frac{50\sqrt{3} }{\sqrt{2} }[/tex] × [tex]\frac{80\sqrt{5} }{\sqrt{3} }[/tex] ( cancel [tex]\sqrt{3}[/tex] on numerator/ denominator

= [tex]\frac{50}{\sqrt{2} }[/tex] × 80[tex]\sqrt{5}[/tex]

= [tex]\frac{4000\sqrt{5} }{\sqrt{2} }[/tex]

To rationalise the denominator multiply numerator/denominator by [tex]\sqrt{2}[/tex]

= [tex]\frac{4000\sqrt{6} }{\sqrt{2} }[/tex] × [tex]\frac{\sqrt{2} }{\sqrt{2} }[/tex]

= [tex]\frac{4000\sqrt{10} }{2}[/tex]

= 2000[tex]\sqrt{10}[/tex] → C

Answer: The answer is C!

Step-by-step explanation:

Hope this helps, can I please have brainliest?


The planet Venus has an average distance from the Sun of about 67,200,000 miles. Write this number in scientific notation

Answers

Answer:

6.72x10^7

Step-by-step explanation:

I hope this helps

7. Find CE.
X-50
B
D
2x + 3
E

Answers

Answer:

15x is the answer ihope this helps:j

PLEWhat is the simplified form of

V45?
A. v5
B. 9.5
C. 3V5
D. 573

Answers

It’s D I did the work
v45
v9x5
v3^2x5
3V5
the answer is C

f varies inversely as the square of d. When d=2, f = 6. Find d when f is 1.5

Answers

Answer:

d = 4

Step-by-step explanation:

Given f varies inversely as d² then the equation relating them is

f = [tex]\frac{k}{d^2}[/tex] ← k is the constant of variation

To find k use the condition when d = 2, f = 6 , then

6 = [tex]\frac{k}{2^2}[/tex] = [tex]\frac{k}{4}[/tex] ( multiply both sides by 4 )

24 = k

f = [tex]\frac{24}{d^2}[/tex] ← equation of variation

When f = 1.5 , then

1.5 = [tex]\frac{24}{d^2}[/tex] ( multiply both sides by d² )

1.5d² = 24 ( divide both sides by 1.5 )

d² = 16 ( take the square root of both sides )

d = [tex]\sqrt{16}[/tex] = 4

tell me 3 mathematical things that you know in relation to geometry

Answers

Answer:

Dilations which reduce or enlarge an object. Translations which move the object from one part on the graph to another. I have also learned about how to construct a perpendicular bisector.

Step-by-step explanation:

Answer:

====================================

Geometry is a branch of mathematics that studies the sizes, shapes, positions angles and dimensions of things.

====================================

--> Actually, Flat shapes like squares, circles, and triangles are a part of flat geometry and are called 2D shapes.

These shapes have only 2 dimensions, the length and the width.

( based on what i know )

11. Write and solve and solve an equation to find the measure of

Answers

Answer:

39

Step-by-step explanation:

29+112= 141  180-141=39

Solve 3/4x+1/4y=5 for y​

Answers

Answer:

y=3x+20

Step-by-step explanation:

So first, I don't like fractions so I would multiply the whole equation by 4. This will make the equation 3x+y=20. Then you have to isolate the y to find the answer so you should subtract 3x from both sides. This will make the equation look like this y=-3x+20. Therefore, y=3x+20

Simplify.
410
44
QU
4-6
Ob
16
ос
44
Od
46
ID
Don't know

Answers

Answer:

4⁶

Step-by-step explanation:

10 - 4 = 6

Harriet is cultivating a strain of bacteria in a petri dish, she has 10^3 bacteria in the dish. The bacteria divided every two hours such that the number of bacteria has doubled by the end of every second hour. How many bacteria will Harriet have in the dish at the end of 6 hours?

Answers

Answer:

4000

Step-by-step explanation:

A=P(2)^(t/d)

A=future amount

P=starting amount

t=time elapsed

h=doubling time

given

P=10^3

t=6

d=2

A=10^3(2)^(6/2)

A=10^3(2)^2

A=10^3(4)

A=4*10^3

A=4000

4000 bacteria

Can someone help me with this. Will Mark brainliest.

Answers

Answer:

y - 9 = -3/2 (x - 6)

Step-by-step explanation:

Equation of line: 4x - 6y - 15 = 0

Equation of perpendicular line: bx - ay + k = 0

                                                 = -6x - 4y + k = 0 → (equation 1)

Since the equation passes through (6,9)

-6(6) - 4(9) + k = 0

-36 -36 + k = 0

-72 + k = 0

k = 72

Substituting the value of in equation 1,

∴ Equation of perpendicular line = -6x -4y + 72 = 0

dividing by -2,

3x + 2y - 36 = 0

This equation is the simplified version of Option 1.

                                                   

y - 9 = -3/2 (x - 6)

y - 9 = (-3x + 18)/2

2y - 18 = -3x + 18

3x + 2y - 36 = 0

What is the area of the trapezoid?
9 yd
8 yd
13 yd

Answers

Answer:

area = 88 yd²

Step-by-step explanation:

area = 1/2(b1 + b2)h = 1/2(9 + 13)(8) = 88 yd²

Answer:

88 yd^2.

Step-by-step explanation:

Area of a trapezoid = 1/2 * h * (a + b) where h = height, a and b are lengths of 2 parallel side.

Area = 1/2 * 8(9+13)

= 4 * 22

= 88 yd^2.

find the surface area/volume for each

Answers

Answer:

goodjob

Step-by-step explanation:

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