Divide the APR by 360 days and multiply it by 30 days to get the monthly interest. Each loan is usually secured by the car you bought. So we will use the secured APR.
8. Average rating secured apr: 5.85% divide by 360 multiply by 30: 0.4875% monthly rate Cost of car: 19,725 ; sales tax: 4.75% ; down payment: 2,175
19,725 x 1.0475 = 20,661.94 - 2,175 = 18,486.94 loan amount 18,486.94 x 0.4875% = 90.12 accrued interest for the 1st month.
9. Excellent rating secured apr: 4.80% divide by 360 multiply by 30: 0.40% monthly rate Cost of car: 15,867 ; sales tax: 5.25% ; down payment: 10% of total cost
15,867 x 1.0525 = 16,700.02 x 90% = 15,030.02 the principal balance at the start of the loan.
10. Fair rating secured apr: 7% divide by 360 multiply by 30: 0.5833% monthly rate Cost of new car: 19,072 ; sales tax: 4.5% ; down payment: 1,200 Cost of used car: 15,365; sales tax: 4.5% ; down payment: 1,200
19,072 x 1.045 = 19,930.24 - 1,200 = 18,730.24 18,730.24 x 0.5833% = 109.25 accrued interest
15,365 x 1.045 = 16,056.43 - 1,200 = 14,856.43 14,856.43 x 0.5833% = 86.66 accrued interest
109.25 - 86.66 = 22.59 is the difference in interest accrued by the end of the first month.
64 +43 ------- 107 4+3 is 7, so seven is in the ones place, but that's not the point. 60+40 is 100, so you regroup by carrying the one to the hundreds place.
No, having the greater rate of change does not mean a function will necessarily reach an output with the smallest input. It also depends on the initial values of the functions. If Jeremy's aunt lives closer to school, Jeremy's rate of change is smaller, but he could still get to school before Amy.
For the first movie he has 6 choices, then for the second since he has chosen the first there are only 5 left, then for the third there are only 4 choices left and so on.
Therefore the answer is 6!=6*5*4*3*2=720 orderings
