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CNBC's Diana Olick has the latest numbers from the housing market.
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{ 2 comments… read them below or add one }
1.sticker price=402
dealer price=342
mark-up=sticker price-dealer price
=402-342=60
2.montlhy payment=97.35
yearly payment=97.35×12=1168.20
time of repayment=3years
if the amount borrowed is y
interest for 3years=y(6×3)/100=18y/100=9y/50
so y+9y/50=1168.20
or59y=1168.20×50
or y=990=amount borrowed
b> deferred payment price=1168.2
c> the finance charge=1168.20-990=178.20
3.total interest=8000×7.8/100×5=3120
a>monthly payment=(8000+3120)/60=185.33
b>the deferred payment price=8000+3120=11120
c>the finance charge=3120
References :
Does anyone know how to do word problems? (pricing, car loan, and credit) need answers ASAP!?
I’m not asking for anyone to do my homework for me, but i would apprecitate it if you could at least show me how to solve the problems. i’m having a really hard time with them. thanks.
1. (pricing) The sticker price for a sound system on a new car is $408. The dealer’s cost is $342.
a. Write an equation relating the sticker price, dealer cost, and markup.
b. Solve the equation to find the mark up.
2. (car loan) The monthly payments on a 6%, three-year laon for a used car are $97.35. Find ech amount.
a. the amount borrowed
b. the deferred payment price
c. the finance charge
3. (credit) Kwan took out a five-year, $8000 education loan at 7.8% annual intrest. Find each amount.
a. the monthly payment
b. the deferred payment price
c. the finance charge