The Kirkland family is buying a new living room set that costs $1,495.

They are going to put a down payment of $400 and then put the rest on

their credit card that has an annual interest rate of 28%. If they pay off

the furniture in 1 year, how much interest would they pay?

Answers

Answer 1
Answer:   173.04 dollars

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

Explanation:

The down payment is $400, so that means they must pay back 1495-400 = 1095 dollars. Let L = 1095 be the amount loaned

The annual interest rate is 28% which means r = 0.28; the monthly interest rate is i = r/12 = 0.28/12 = 0.02333 approximately

There are 12 months in a year, so n = 12 is the number of payment periods

----------------------------------------

In summary so far, we have

L = 1095i = 0.02333 (which is approximate)n = 12

Those values will be plugged into the monthly payment formula below

M = L*( i*(1+i)^n )/( (1+i)^n - 1 )

M = 1095*( 0.02333*(1+0.02333)^12 )/( (1+0.02333)^12 - 1 )

M = 105.671914631108

M = 105.67

The monthly payment is $105.67

If they have a monthly payment of $105.67, and they pay that for 12 months, then 12*105.67 = 1,268.04 dollars is the amount of money they pay back to the credit card company.

The total amount of interest would be 1,268.04 - 1,095 = 173.04 dollars

Side note: the formula is a complicated ugly mess, so it's understandable to use calculators that already have the formula built in. Many websites offer free calculators that do this.


Related Questions

PLEASE HELP AS SOON AS POSSIBLE :)
At Sally's Diner, combo meals come with either chips or fries. Of the 115 customers on Friday, 80% ordered combo meals. Of these 3/4 had fries. How many customers on Friday had fries with their meals?

A. 69
B. 72
C. 86
D. 92

Answers

Answer:

A: 69

Step-by-step explanation:

80% of 115 customers had combos. To find out the amount that had combos, we multiply the amount of customers by percentage. 115 * 80% (0.8) is 92. 92 customers had combo meals. 3/4 of them had fries with it, and 3/4 is 75% in percent form. We multiply 92 by 75% to get the amount that had fries. 92 * 75% (0.75) is 69. There. Sally's Diner had 69 of Friday's customers order fries with their combo meals.

115 x .80% = 92

92 x .75% = 69

Answer : A. 69

im eating popcorn mwah ha ha ( answer)

Answers

I’m drinking water and doing homework

Answer: There better be butter and some kind of cheese seasoning or Kirby will be very disappointed.

At a zoo, 8 monkeys ate 64 bananas in one day. At
this rate how many bananas could 12 monkeys
eat in one day?

HELPP ASAPPPPPPP!!!!!!!!!!

Answers

Answer:

96

Step-by-step explanation:

Answer:

64 bananas / 8 monkeys = 8 bananas per monkey

12 monkeys x 8 bananas each = 96 bananas

Solve the equation.

h + | -8| = 15

Answers

Answer:

if you're trying to say h+ -8 = 15 then h would be 23

these || would mean the -8 is just 8 so it would be 15-8 which is 7

-6 2/9 x (7 3/6) = _______________
(These are mixed fractions)
Improper form :
-56/9 x (45/6) = __________

Answers

-21 7/9 or -(14/3)^2

Step-by-step explanation:

With the mixed, start with the whole numbers

-6 * 7 = -42

Then do the fractions

[tex]-\frac{2}{9} *\frac{3}{6}[/tex]

simplify

[tex]-\frac{2}{9} *\frac{1}{2}[/tex]

[tex]\frac{2}{18}[/tex]

simplify : [tex]\frac{1}{9}[/tex]

and you end up with: [tex]-42\frac{1}{9}[/tex]

With the improper

[tex]\frac{-56}{9} *\frac{45}{6}[/tex]

Start by simplifying the fraction down

[tex]\frac{-28}{1} *\frac{5}{3}[/tex]

Multiply

[tex]-\frac{140}{3}[/tex]

Check both if they are equivalent (you do that)  

Wendy did a survey of four bird parks and wrote the following observations:

Bird Park Survey
Park Number of Blue Birds Total Number of Birds
A 23 96
B 41 72
C 40 78
D 24 62
Based on the survey, which park had the greatest percentage of blue birds? (1 point)

Group of answer choices

Park A

Park B

Park C

Park D

Answers

B hope u get it right
i think it’s B , ( park B )

Group of answer choices

Phone A

Phone B

Phone C

Phone D

Answers

Answer:

Phone B

Step-by-step explanation:

Answer:

B

Step-by-step explanation:

0.0645 X 25= 1.6125

Almonds are a member of the peach family

Answers

faxxxxxxxxxxxxxxxxxxxx

You have $3.25 to buy bananas. Each bananas costs $0.35. How many bananas will you buy? Will you use all your money? If not, how much will you have left over?

Answers

Answer:

If had left over I would leave $1.85

Step-by-step explanation:

how can you compare ratios to solve a problem?

Answers

“To use proportions to solve ratio word problems, we need to follow these steps:
Identify the known ratio and the unknown ratio.
Set up the proportion.
Cross-multiply and solve.
Check the answer by plugging the result into the unknown ratio.”
I hope this helps.

Answer:

Identify the known ratio and the unknown ratio.

Set up the proportion.

Cross-multiply and solve.

Check the answer by plugging the result into the unknown ratio.

Step-by-step explanation:

Select the graph that represents the given set. (Click on the graph until the correct one is showing.) E = {(6, 2), (7, 3), (6, -1), (5, 4)}

Answers

Step-by-step explanation:

the answer is second picture because according to the coordinate which is the first number in the bracket is refer to x axis while the number that after comma is for y axis; (x,y)

Answer:

I didn't know how to put it on here so I provided a screenshot of the correct answer

Step-by-step explanation:

Paulie is buying a shirt that was originally priced at $15. The store has a today-only discount of 25%. What is today’s price for the shirt? $

Answers

Answer:

$11.25

Step-by-step explanation:

15 divided by .25 is 3.75, so subtract 3.75 from 15 and its 11.25

Sale price=11.25 25=3.75 15-3.75=11.25

please help giving brain liest :DDDDDDDDDDDDDDDD

Answers

Answer:

uhh ik ur gonna hate bc of my answer

Step-by-step explanation:

100×0.23 =
101×0.23 =
102×0.23 =
103×0.23 =

Answers

Answer:

104x0.23

Step-by-step explanation:

?

-7z - 59 = -10 what does z =?

Answers

Answer:

-7

Step-by-step explanation:

Answer:

z = - 7

Step-by-step explanation:

-7z = 49 (you add up -59 and -10, 2 - signs = +)

-z = 7 (you do 49 divided by 7)

z = - 7

I think this is right

Kyle has three pieces of rope. The lengths of the ropes are 241.6 centimeters, 241.38 centimeters, and 264.7 centimeters.

What is the difference in length between the longest and shortest pieces of rope?

Answers

Answer:

23.32 cm

Step-by-step explanation:

longest - 264.70 cm

smallest -241.38 cm

so 264.70 cm -241.38 cm =23.32 cm

Answer: 23.32 cm (Don't forget your label)

Step-by-step explanation: 264.7 - 241.38 = 23.32 cm

Bob is packing a suitcase to take on an airplane. A suitcase and its contents can weigh at most 50 pounds before the airlines charge extra fees. Bob's suitcase weighs 10 pounds when it is empty, so he can put 40 pounds of clothes in the suitcase. Bob's shirts weigh 0.5 pounds each and his pants weigh 2 pounds each.

(1)Write an equation that would model how many pounds of clothing Bob can pack.


(2)Rewrite the equation to model the number of pants Bob can pack in terms of the number of shirts.

Answers

Answer:

1. 10x + 40 = 50

2. 10x + 2 + 0.5 = 40

Step-by-step explanation:

1. If bob's suitcase is 10lb. by itself then that is 10.

His limit of content and suitcase is 50lb.

His shirts weigh 0.5lb each.

His pants weigh 2lb each.

10x + 40 = 50

2. 10x + 2 + 0.5 = 40

The sales tax for an item was $8.80 and it cost $440 before tax.
Find the sales tax rate. Write your answer as a percentage.

Answers

Answer:

Step-by-step explanation:

In non-mathematical form, the question is asking $8.80 is what percent of $440. N will equal the percent. So, you would set up the equation like this: 20 = N · 440

You need to solve the equation.

20/440 = N · 440/440

0.045 repeating = N

Rounded, the sales tax rate would be 4.5%

A micron equals 0.001 millimeters, or 1/1000 of a millimeter. What fraction of an inch is a micron?

Answers

Answer:

3.937 × 10-5 inch is the answer

Answer: 1/100

Step-by-step explanation:

Help me please because i move classes and i was not on this chapter

Answers

Answer:

20/27 pages per minute I think

Step-by-step explanation:

ok ok ok now whats -4 = -20

Answers

Answer:

This is wrong But if you ask me what is -4= -2² and -20= -2×10¹

Answer:

ok ido not know

Step-by-step explanation:

What is the total surface area of this rectangular pyramid?
A rectangular pyramid. The rectangular base has a length of 12 feet and width of 6 feet. 2 triangular sides have a base of 12 feet and height of 8 feet. 2 triangular sides have a base of 6 feet and height of 9.5 feet.
_____________ square feet
HELP PLS!!!

Answers

Answer:

225 square feet

Step-by-step explanation:

the base of the pyramid would be 76 ft², since 12*6=72. Then you get the surface area of the sides. 2 of the sides would be 48 ft², since (12*8)/2=48. The other 2 sides would be 28.5 ft², since (6*9.5)/2-28.5. Then you just add the surface areas of all the sides; 76+48+48+28.5+28.5 to get 225.

Hope this helps! :)

Answer:

(C) 225

Step-by-step explanation:

I took test on edge 2021 got 100%

Please answer the question in the picture that I have provided

Answers

Answer:

i think it b im not to sure

Step-by-step explanation:

Answer:

sqrt 25 is a rational number

Step-by-step explanation:

im in need of maijor help this is due soon and i need help ASAP

Answers

Answer:

1) 120 seconds2) 180 seconds

Step-by-step explanation:

First light

Shines 3 seconds first time plus after 6 seconds, the pattern is:

3 + 6x

Off 6 seconds first time plus after 6 seconds, the pattern is:

6x

Second light

Shines 4 seconds first time plus after 8 seconds, the pattern is:

4 + 8x

Off 8 seconds first time plus after 8 seconds, the pattern is:

8x

Third light

Shines 5 seconds first time plus after 10 seconds, the pattern is:

5 + 10x

Off 10 seconds first time plus after 10 seconds, the pattern is:

10x

1) All lights will be off after:

LCM(6x, 8x, 10x) = 2*3*4*5xx = 1 ⇒ 120*1 = 120 seconds, next time

2) All lights will come on after:

LCM(3 + 6x, 4 + 8x, 5 + 10x) = LCM(3(1+2x), 4(1+2x), 5(1 + 2x)) = 60(1 + 2x)x = 1 ⇒ 60(1 + 2) = 180 seconds, first time

Order from least to greatest.

4.08, 4.3, 4.803, 4.038

Answers

Answer: 4.038,4.803,4.08,4.3

Answer above is wrong.

It's 4.038, 4.08, 4.3, 4.803.

y=-4x+15
8x-2y=-30
using a substitution method or elimination method.

Answers

Here with substitution
8x - 2(-4x + 15) = -30
8x + 8x - 30 = -30
16x = 0, x = 0
8(0) - 2y = -30
-2y = -30, y = 15
The answer: x = 0, y = 15
I’m sorry I’m not actually answering you this is just so I can ask my questions bc I have to answer people

Shilo is trying to compute the value of 27 + 55 + 13. She adds 27 + 13 to get 40 and then adds on 55. Which of the following properties is Shilo using?
1.) commutative
2.) distributive
3.) identity
4.) associative

Answers

she use commutative property of addition

Answer:

commutative property of addition is your answer

The commutative property of addition states that no matter which terms you add first, the result would be the same

(A) commutative is your answer

Solve this -0.5 (5c + 8d )

Answers

Answer:

-5c-8d/2

Step-by-step explanation:

-0.5(5c+8d)

-1/2(5c+8d)

= -5c-8d/2

Which word has almost the same meaning as the word drawbacks? 1st person to answer get brainlyest

cross out

bonuses

disadvantages

reasons

supporters

Answers

Answer:

Step-by-step explanation:

cross out

Answer:

disadvantages

Step-by-step explanation:

Multiply. 5/6 x 3/10 write your answer in simplest form

Answers

Answer:

[tex]\frac{1}{4}[/tex]

Step-by-step explanation:

Answer:

0.25 :)

Step-by-step explanation:

5/6 x 3/10 = 0.25

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