A video game store allows customers to rent games for $4.75 each. Customers can also buy a membership for $54 annually, and vide
o games would only cost $2.50 each. Write and solve an equation to find the number of video games a customer would have to rent in a year in order for the two options to be equal?
1 answer:
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Answer:
Step-by-step explanation:
Average amount saved per year =
=$
So on average Joanne has saved $3000 per year. She only needs $2000 more which will not even take a year to save.
How many months it will take to save $2000:
= Months.
It will only take Joanne 8 moths to save $2000.
If she really wants to buy the home now she can always go for a home loan scheme for $2000. Any interest rate less than 50% per year is fine as she can save $3000 per year.
Answer:
The amount that will go towards the balance is 385.71.
Step-by-step explanation:
The information provided is:
P = Principal of loan = $15,000
r = interest rate = 5.4% p.a. =
n = number of periods = 36
The amount of the monthly payment that will go towards the balance is:
Amount towards the balance = EMI - Interest
First compute the Equated monthly installments (EMI) as follows:
Now compute the interest as follows:
The amount that will go towards the balance is,
Amount towards the balance = EMI - Interest
= 453.21 - 67.5
= 385.71
Thus, the amount that will go towards the balance is 385.71.