An appliance is for sale at either (a) P15,999 cash or (b) on terms, P1,499 each month for the next 12 months. Money is 9% compounded monthly. Which is lower, the cash price or the present value of the installment terms? Explain.
Answers
The cash price would be lower. A further explanation is below.
According to the question,
Interest rate per month,
(%)
hence,
The Present value of the monthly payment will be:
=
=
=
As we can see that the cash price is 15,999. Thus the above answer is right.
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Answer:
Cash price
Step-by-step explanation:
The computation is shown below:
The Interest rate per month (r) = (9% ÷ 12) = 0.75%
Now Present value of the monthly payment is
= PMT × {[(1 + rate of interest)^number of years - 1] ÷ rate of interest}
= 1,499 × {[(1 + 0.75%)^12 - 1] ÷ 0.75%}
= 18,748.89
And the cash price is 15,999
So, the cash price would be lower
Related Questions
PLEASE HELP! GIVING 11 POINTS! IN DESPERATE NEED!Dalia flies an ultralight plane with a tailwind to a nearby town in 1/3 of an hour. On the return trip, she travels the same distance in 3/5 of an hour. What is the average rate of speed of the wind and the average rate of speed of the plane? Let x be the average airspeed of the plane. Let y be the average wind speed. Initial trip: 18 = (x + y)1/3 Return trip: 18 = (x – y)3/5 What was Dalia's mph? What was the wind speed?
Which statement is true about every rectangular pyramid?Each lateral face has an area less than the area of the base.At least two of the lateral faces are congruent.Each lateral face has the same height.At least one of the faces has a whole number base or height.
Simplifiy (5x^2+3x-9)(2x-7)
Rewrite 4/7 and 6/11 so that they have a common denominator.
Answers
To find out how much flour Ricky needs, we first need to find 1 1/2 times the amount of flour in the original recipe.
2 3/3 cups of flour is the same as 8/3 cups of flour.
To find 1 1/2 times the amount of flour in the original recipe, we can multiply 8/3 by 1 1/2:
8/3 x 3/2 = 24/6 + 4/6 = 28/6
So 1 1/2 times the amount of flour in the original recipe is 28/6 cups of flour.
To find out how much flour Ricky needs, we can multiply this amount by 1 1/2:
28/6 x 3/2 = 84/12 + 18/12 = 102/12
So Ricky needs 102/12 cups of flour, which simplifies to 8 1/2 cups of flour.
Answers
C(8,3) = 8!/(8-3)!3!
C(8,3) = 56
There are 56 3-person teams that can be formed from the 8 students.
Answers
213 is the minimum number of words per minute a student would need to read in order to get the award
What is Normal Distribution?
Normal distribution, also known as the Gaussian distribution, is a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.
Given that, Mrs. smith reading class can read a mean of 175 words per minute with a standard deviation of 20 words per minute. The top 3% of the class is to receive a special award. we need to find the minimum number of words per minute a student would have to read in order to get the award.
The z-value separating the top 3% of a normal population from
the bottom 97%.
That value is z = 1.8808
The associated raw score value using x = zs + u
x = 1.8808*20 + 175
x = 212.62
213 is the minimum number of words per minute.
Hence 213 is the minimum number of words per minute a student would need to read in order to get the award.
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Answer:
just getting ponts really sry
Step-by-step explanation:
Answers
For this case we have that by definition, the slope of a line is given by:
Where:
and
are two points through which the line passes.
We have as data that:
Substituting we have:
Thus, the slope of the line is
Answer:
Answer:
-7/4.
Step-by-step explanation:
This is the difference in the y coordinates / corresponding difference in the x coordinates.
here it is (16 - 9) / (-3-1)
= 7 / -4
= -7/4.
Answers
Answer: the value of the account at the end of 6 years is is $8577
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = 6000
r = 6% = 6/100 = 0.06
n = 4 because it was compounded 4 times in a year.
t = 6 years
Therefore,.
A = 6000(1+0.06/4)^4 × 6
A = 6000(1+0.015)^24
A = 6000(1.015)^24
A = $8577
Answers
we know that
the equation of the line in the slope-y intercept form is equal to
where
m is the slope of the line
b is the y-intercept of the line---> (Remember that the y-intercept is the value of y when the value of x is equal to zero)
In this problem we have
so
therefore
the answer is
The slope of the line is equal to
Answer:
the Slope of line, y = x - 3 is 1.
Step-by-step explanation:
Given equation of line, y = x - 3
To find: Slope of the line.
we have many forms of equation of line, but this resembles with slope-intercept form.
The standard form of Slop-Intercept form is given by y = m.x - c
where, m is slope of the line and c is the y-intercept of line
Therefore, By comparing given equation of line with standard form of Slope-Intercept form of line. we get,
m = 1.
So, the Slope of line, y = x - 3 is 1.