Tom is 45 and pays $2042 on his mortgage each month while his total take home pay is $5950 per month. The national average for t
2 answers:
Answer:
Tom pays 34.32% which is less than 35%.
Step-by-step explanation:
Tom's total take home pay per month is = $5950
The national average for those aged 35-64 on housing costs is 35% of income.
Given is that tom is 45 years and pays $2042 on his mortgage each month.
So, he pays % of his monthly income.
This is slightly lower than the national average of 35%.
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Answer:
When new, the scooter cost $900
Step-by-step explanation:
<u><em>The complete question in the attached figure</em></u>
we have
This is a exponential function of the form
where
A(t) ----> represent the value of a motor scooter
t ----> the number of years after it was purchased
a ---> represent the initial value or y-intercept
b is the base of the exponential function
r is the percent rate of change
b=(1+r)
In this problem we have
The base b is less than 1
That means ----> is a exponential decay function (is a decreasing function)
Find the percent rate of change
Convert to percentage (multiply by 100)
---> negative means is a decreasing function
<u><em>Verify each statements</em></u>
<em>case A</em>) When new, the scooter cost $765.
The statement is false
Because the original value of the scooter was $900
case B) When new, the scooter cost $900
The statement is true (see the explanation)
case C) The scooter’s value is decreasing at a rate of 85% each year
The statement is false
Because the scooter’s value is decreasing at a rate of 15% each year (see the explanation)
case D) The scooter’s value is decreasing at a rate of 0.15% each year
The statement is false
Because the scooter’s value is decreasing at a rate of 15% each year (see the explanation)
