answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
timama [110]
1 year ago
15

An auto dealership is advertising that a new car with a sticker price of $35,208 is on sale for $25,995 if payment is made in fu

ll, or it can be financed at 0% interest for 72 months with a monthly payment of $489. Note that 72 payments × $489 per payment = $35,208, which is the sticker price of the car. By allowing you to pay for the car in a series of payments (starting one month from now) rather than $25,995 now, the dealer is effectively loaning you $25,995. If you choose the 0% financing option, what is the effective interest rate that the auto dealership is earning on your loan?
Mathematics
1 answer:
frutty [35]1 year ago
6 0

The answer is: APR = 10.56%

Explanation:   Using an excel spreadsheet and the RATE function, we can calculate the monthly interest rate of buying the car:

=RATE(72,-489,25995)

= 0.8803% monthly interest rate

Then we multiply the monthly interest rate by twelve to get the APR:

APR = 0.8803% x 12 = 10.56%

You might be interested in
Andrew bashir and candy are trying to save money for a birthday party.If andrew saves 1/4 of the total needed bashir saves 2/5 a
DerKrebs [107]

Answer:

1/4.

Step-by-step explanation:

That is 1 - (1/4 + 2/5 + 1/10).

The Lowest common multiple  4 5 and 10 is 20 so we have

20/20 - (5/20 + 8/20 + 2/20)

=  20/20 - 15/20

= 5/20

= 1/4 answer.

5 0
2 years ago
​Gayla draws a rectangle. Jared then draws a different rectangle by increasing both the length and the width by 5%. Lyda draws a
Makovka662 [10]

1/2                                                                                      

Step-by-step explanation:

5 0
2 years ago
If ΔABC ≅ ΔFDE, which of the following statements is true?
Fed [463]

Answer:

Option D) ∠B ≅ ∠D

Step-by-step explanation:

we know that

If two triangles are congruent, then the corresponding sides and the corresponding angles are congruent

so

If ΔABC ≅ ΔFDE

the corresponding angles are

∠A and ∠F

∠B and ∠D

∠C and ∠E

so

∠A ≅ ∠F

∠B ≅ ∠D

∠C ≅ ∠E

therefore

The statement that is true is ∠B ≅ ∠D

7 0
2 years ago
Read 2 more answers
A salesman must commute 1 hour and 48 minutes from his house to the airport, fly to another city and take a bus to his destinati
irina [24]
5 hours and 54 minutes.
4 0
2 years ago
Read 2 more answers
g Assume that the distribution of time spent on leisure activities by adults living in household with no young children is norma
OLga [1]

Answer:

"<em>The probability that the amount of time spent on leisure activities per day for a randomly selected adult from the population of interest is less than 6 hours per day</em>" is about 0.8749.

Step-by-step explanation:

We have here a <em>random variable</em> that is <em>normally distributed</em>, namely, <em>the</em> <em>time spent on leisure activities by adults living in a household with no young children</em>.

The normal distribution is determined by <em>two parameters</em>: <em>the population mean,</em> \\ \mu, and <em>the population standard deviation,</em> \\ \sigma. In this case, the variable follows a normal distribution with parameters \\ \mu = 4.5 hours per day and \\ \sigma = 1.3 hours per day.

We can solve this question following the next strategy:

  1. Use the <em>cumulative</em> <em>standard normal distribution</em> to find the probability.
  2. Find the <em>z-score</em> for the <em>raw score</em> given in the question, that is, <em>x</em> = 6 hours per day.
  3. With the <em>z-score </em>at hand, we can find this probability using a table with the values for the <em>cumulative standard normal distribution</em>. This table is called the <em>standard normal table</em>, and it is available on the Internet or in any Statistics books. Of course, we can also find these probabilities using statistics software or spreadsheets.

We use the <em>standard normal distribution </em>because we can "transform" any raw score into <em>standardized values</em>, which represent distances from the population mean in standard deviations units, where a <em>positive value</em> indicates that the value is <em>above</em> the mean and a <em>negative value</em> that the value is <em>below</em> it. A <em>standard normal distribution</em> has \\ \mu = 0 and \\ \sigma = 1.

The formula for the <em>z-scores</em> is as follows

\\ z = \frac{x - \mu}{\sigma} [1]

Solving the question

Using all the previous information and using formula [1], we have

<em>x</em> = 6 hours per day (the raw score).

\\ \mu = 4.5 hours per day.

\\ \sigma = 1.3 hours per day.

Then (without using units)

\\ z = \frac{x - \mu}{\sigma}

\\ z = \frac{6 - 4.5}{1.3}

\\ z = \frac{1.5}{1.3}

\\ z = 1.15384 \approx 1.15

We round the value of <em>z</em> to two decimals since most standard normal tables only have two decimals for z.

We can observe that z = 1.15, and it tells us that the value is 1.15 standard deviations units above the mean.

With this value for <em>z</em>, we can consult the <em>cumulative standard normal table</em>, and for this z = 1.15, we have a cumulative probability of 0.8749. That is, this table gives us P(z<1.15).  

We can describe the procedure of finding this probability in the next way: At the left of the table, we have z = 1.1; we can follow the first line on the table until we find 0.05. With these two values, we can determine the probability obtained above, P(z<1.15) = 0.8749.

Notice that the probability for the z-score, P(z<1.15), of the raw score, P(x<6) are practically the same,  \\ P(z. For an exact probability, we have to use a z-score = 1.15384 (without rounding), that is, \\ P(z. However, the probability is approximated since we have to round z = 1.15384 to z = 1.15 because of the use of the table.

Therefore, "<em>the probability that the amount of time spent on leisure activities per day for a randomly selected adult from the population of interest is less than 6 hours per day</em>" is about 0.8749.

We can see this result in the graphs below. First, for P(x<6) in \\ N(4.5, 1.3) (red area), and second, using the standard normal distribution (\\ N(0, 1)), for P(z<1.15), which corresponds with the blue shaded area.

5 0
2 years ago
Other questions:
  • a resorvoir can be filled by an inlet pipe in 24 hours and emptied by an outlet pipe 28 hours. the foreman starts to fill the re
    9·2 answers
  • What is 0.666667 as a fraction ?
    14·2 answers
  • The triangle in the diagram represents a mold that Anna uses to shape dough before baking. Anna also has a circular mold whose r
    14·2 answers
  • In 2010, a city's population was 1,405,233 and it was decreasing at a rate of 1.1%. At this rate when will the city's population
    9·1 answer
  • Afish is hovering at -320 feet in relation to sea level. Then it descends 2 feet per second for 8 seconds. Brenda says that the
    12·2 answers
  • Solve Multi-Step Problems - Quiz - Level D
    7·1 answer
  • A boat can travel 64 miles on 7 gallons of gasoline. How much gasoline will it need to go 24 miles?
    10·1 answer
  • 2. José is using 12 brown tiles and
    5·1 answer
  • Dave’s Automatic Door, referred to in Exercise 29, installs automatic garage door openers. Based on a sample, following are the
    13·1 answer
  • Anika buys a pair of shin guards for $8.58 and several pairs of soccer socks for $4.29 per pair. If she spends $25.74 before tax
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!