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David is buying a new car for $21,349.00. He plans to make a down payment of $3,000.00. If he's to make monthly payments of $352 for the next five years, what APR has he paid? A. .05% B. 5.9% C. 59% D. 5%
David is buying a new car for $21,349.00. He plans to make a down payment of $3,000.00. [ If he's to make monthly payments of $352 for the next five years, the APR he has paid is 5.9%. SOLUTION: 21349 - 3000 = 18349 Amount he paid in 5years = 12×5= 60 352 × 60 =21,120 Interest is given as: 21,120 18,349 =2,771 Therefore, APR = 2,771×2×12/18,349×61) = 0.059 × 100 = 5.9%
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Asked 5/16/2019 9:40:04 PM
Updated 11/28/2020 3:40:13 PM
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David is buying a new car for $21,349.00. He plans to make a down payment of $3,000.00. [ If he's to make monthly payments of $352 for the next five years, the APR he has paid is 5.9%.

SOLUTION:
21349 - 3000 = 18349
Amount he paid in 5years = 12×5= 60
352 × 60 =21,120
Interest is given as: 21,120 18,349 =2,771
Therefore, APR = 2,771×2×12/18,349×61) = 0.059 × 100 = 5.9%
Added 11/28/2020 3:40:13 PM
This answer has been confirmed as correct and helpful.
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At a local store you find the following prices listed: Tape 2 rolls for $1.28 Notepads 3 pads for .87 Highlighters 1 for 1.59 Pens 2 for 1.98 How much would you pay for one roll of tape, two note pads, two highlighters, and two pens? A. $4.50 B. $6.38 C. $8.07 D. $5.72
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Updated 193 days ago|7/14/2021 12:31:20 PM
1 Answer/Comment
Tape 2 rolls for $1.28 Notepads 3 pads for .87 Highlighters 1 for 1.59 Pens 2 for 1.98 , Tap 1 roll = $1.28/2 = $0.64, 1 notepad = .87/3 =0.29 , 2 notepad = 2 * 0.29 = $0.58, 2 highlighter = 2*1.59= $3.18, 2 pen =$ 1.98. Total for one roll of tape, two note pads, two highlighters, and two pens = $0.64 + $0.58 +$3.18 + $1.98 = $6.38
Added 193 days ago|7/14/2021 12:31:20 PM
This answer has been confirmed as correct and helpful.
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1 Answer/Comment
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