Mathematics: Use the formula to solve for c. choose the right answer. amount financed (m) = $600 number of payments per year (y) = 12 number of payments (n) = 24 apr (i) = 18% a)112.33 b)112.12 c)112.50

Use the formula to solve for c. choose the right

Ответ:

oliviaclerk5

03.01.2022

Mathematics

The correct option is C). $112.50

Step-by-step explanation:

Amount Financed (m) = $600

Number of Payments per year (y) = 12

Number of Payments (n) = 24

APR (I) = 18%

$\text{Time = }\frac{\text{Number of payments}}{\text{Number of payments per year}}\\\\\implies\text{Time = }\frac{24}{12}=2\text{ years}$

Now, c can be calculated by using the formula :

$c=\frac{\text{Amount financed}\times Rate\times (n+1)}{Time\times \text{Number of payments per year}\times 100}\\\\\implies c = \frac{600\times 18\times (24+1)}{2\times 12\times 100}\\\\\implies c=\frac{600\times 18\times 25}{2\times 12\times 100}\\\\\implies c = 112.5$

Hence, The required value of c = $112.50

Therefore, The correct option is C). $112.50

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Use the formula to solve for c. choose the right answer.
amount financed (m) = $600
number of payments per year (y) = 12
number of payments (n) = 24
apr (i) = 18%
a)112.33
b)112.12
c)112.50

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