Mathematics, 10.03.2020 00:05 tonyacoolmom

Jon and Erin are purchasing a new TV and stereo surround system for their living room. The cost of both items is $1675.00. They are purchasing them with an installment loan that has an APR of 12%. The store financing requires a 10% down payment, and 12 monthly payments.

Answers: 1

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Answer from: leomessifanboy678

$133.96 per month

Step-by-step explanation:

He makes a Downpayment of 10% of $1675=167.5

it means jon and erin have $1507.5 more to pay

a/{[(1+r)^n]-1}/[r(1+r)^n]=p

p=monthly repayment

a=amount of loan payment(1675*10%=167.5, 1675-167.5=1507.5

n=number of months 12

rate=r(12%, 0.12/number of months)

0.12/12=0.01

(1+0.01)^12-1)/(0.01(1+0.01)^12)

0.1268/0.01(1.1268

0.1268/0.01126

11.25

a/11.25=p

1507.5/11.25=

He pays $133.96 per month

Answer from: peytonbrien2002

$133.96/month.

Step-by-step explanation:

Already paid 10% that becomes =$1507.5

a/{[(1+r)^n]-1}/[r(1+r)^n]

Apr=12/100÷(12)

Apr=0.01

(1+0.01)^12-1)/(0.01(1+0.01)^12)

11.25

1507.5/11.25

Has to pay this amount monthly $133.96

Answer from: Quest

answer:

payment just for service

→

87.12

payment for service including tax

→

94.09

explanation:

service only with 20% tip

→

72.6

(

100

)

87.12

in the opening of the question the word 'service' is associated only with the pretax value.

the closing part of the question asks: how much did she pay for the

service

−−−−−−

so technically the answer is

→

72.6

(

100

)

87.12

however, the intention of the question provider may have been that your answer is to be

87.12

(

100

)

94.09

to 2 decimal places.

payment just for service

→

87.12

payment for service including tax

→

94.09

tony b

mar 21, 2017

answer:

trying to explain it another way

explanation:

service charge

→

72.60

20% tip

100

72.60

14.52

−−−−−−

←

add

87.12

tax

100

87.12

6.97

−−−−−

←

add

94.09

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