Use the following formula. 1+ -1 A = Suppose that you drive 50,000 miles per year and gas averages $4 per gallon. Complete parts a. and b. below. a. What will you save in annual fuel expenses by owning a hybrid car averaging 50 miles per gallon rather than an SUV averaging 25 miles per gallon? (Round to the nearest dollar as needed.) b. If you deposit your monthly fuel savings at the end of each month into an annuity that pays 5.6% compounded monthly, how much will have saved at the end of five years? (Round to the nearest dollar as needed.)

Q: Abdullah wants to renovate his office in 8 years. He estimates the cost to be $15238. Find the…

A:

Q: Sammy wants to buy a new stereo priced at $ 442 he enters into an agreement to pay $22 a month for…

A: According to the agreement Sammy pays $22 for 24 months, Therefore the amount she paid is 22×24=528…

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Find the amount of simple interest earned for depositing the given principle in an account. $4800…

A:

Q: A credit card offers no interest no payments for 12 months. You make a purchase of $3500. You make…

A: purchase made A= $3500 monthly payments m= $300 Amount made during the first year (11 payments)…

Q: in order to start a small business a student takes out a simple interest loan for $4000 for nine…

A:

Q: Jeffrey wei received a 6 year non subsidized student loan of 31000 at an annual interest rate of…

A: Answer and explanation is given below

Q: Mary Lavor plans to save money at her bank for use in December. She will deposit $30 a month,…

A:

Q: You want to buy a home.  You can borrow 80% of the purchase price.  Assuming that you can make a…

A: Given that    You want to buy a home.  You can borrow 80% of the purchase price.  Assuming that you…

Q: Louis Lane can’t decide whether she wants to buy a car or lease a car. She is looking at a $28,000…

A: From given data we can see here Total Principal amount = P = $28,000 Time = t = 48 months and…

Q: 12. Miko borrowed P25,000 at 10% annual simple interest rate. How much should he pay after 3 years…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Trevor plans on getting a $222,000 loan for 30 years to purchase a home lender a offers him a 5%…

A:

Q: A radio commercial for a loan company​ states: "You only pay 29¢ a day for each​ $500 borrowed." If…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans,…

A:

Q: After becoming a commercial pilot, Lorna Kao decides to purchase a Cessna 182 for $64,775. Assuming…

A: To answer the following

Q: Ms. Saya got a business loan worth P500,000.00. She promised to pay the loan semi-annually in 2…

A:

Q: Mr. Wong’s daughter needs to borrow $1000 from him to buy her textbooks. He agrees  to the loan and…

A: This is a question related to simple interest concept. Based on the formula of simple interest we…

Q: Shaun Murie wants to expand his pharmacy. To do this, he takes out a bank loan of $49,275 and agrees…

A: Solution:Given    P=$49,275     r=12.2%=0.122n=48 months=4 yearTo find the amount of each payment…

Q: Suppose that you decide to borrow $25,000 for a new car. You can select one of the following loans,…

A: Given  The loan amount =$25,000 For Loan A→3 year loan at 5% For Loan B →5 year loan at 8%

Q: Bill Casler bought a $8000, 9-month certificate of deposit (CD) that would earn 8.4% annual simple…

A:

Q: Nabras borrows OMR 4800 for 10 months at a simple interest rate of 8% per year. Determine the…

A:

Q: Salim wants to remodel his game room in 5 years. He estimates the cost to be $16166. Find the…

A: Given data set: Rate of interest = 3% Time period = Annuity term= 5 years Type of annuity= Ordinary…

Q: Suppose you want to have $700,000 for retirement in 20 years. Your account earns 10% interest. a)…

A: As per bartleby guidelines we only give first question answers.

Q: If the interest earned on a deposit is $50.00 and the simple interest rate is 3.00% per annum…

A:

Q: You have $3,000 on a credit card that charges a 12% interest rate. If you want to pay off the credit…

A:

Q: Theadre Adams wants to open an accounting firm once she gets out of college in 4 years. She has…

A: Future value of annuity is the value of stream of recurring cashflow compounded to future date at…

Q: Ellen has maxed out her credit card at Si1,500 and vows not to make any other credit card purchases.…

A: Given: Principal= $11500 Minimum monthly payment = 1.9% of interest per month + 2% of Principal…

Q: Suppose you obtain a 30-year mortgage loan of $191,000 at an annual interest rate of 8.5%. The…

A: Given: The mortgage loan for 30 years is $ 191,000 The annual rate of interest is 8.5% The tax bill…

Q: Suppose you obtain a 25-year mortgage loan of $195,000 at an annual interest rate of 8.2%. The…

A:

Q: You decide to buy a 2020 blue Rolls-Royce Phantom for $455,000. Use the simple interest formula to…

A:

Q: You need a 30-year, fixed-rate mortgage to buy a new home for $250,000. Your mortgage bank will lend…

A: The payment made by the investor for the mortgage loan The purchase rate of house worth $250,000 and…

Q: Mark and Natalie want to buy a house selling for $120,000. They will put $20,000 down  as a down…

A:

Q: Your friend buys a $15,000 car. Your friend is financing the purchase with a loan at 3.6% with…

A: According to the question, The principal amount P=$15000. The rate of interest r=3.6% The time taken…

Q: Decide whether the following statement makes sense​ (or is clearly​ true) or does not make sense​…

A:

Q: You want to purchase a new car in 6 years and expect the car to cost ​$82,000. Your bank offers a…

A: Given, Cost of car = $82,000 Time (t) = 6 years Rate = 5.5% = 0.055

Q: How much can you barrow to buy a house if you agree to pay $1500 per month for 30 years at 4.5%…

A: In the given question we have to calculate the amount needed to be borrowed of which monthly payment…

Q: You want to buy a $241,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan…

A: The total price of the home is $241,000. The down payment will be 15% among the total price.  Rest…

Q: Jack borrowed a $35,000.00 loan with a simple annual interest of 4.50%, what is the total amount he…

A:

Q: After making payments of $909.10 for 8 years on your 30-year loan at 8.9%, you decide to sell your…

A: Given that, After making payments of $909.10 for 8 years on your 30-year loan at 8.9%, you decide to…

Q: Suppose you want to have $300,000 for retirement in 35 years. Your account earns 7% interest. a) How…

A: Let's find.

Q: Elisa needs money to repair her home air​ conditioner, so she pawns her bicycle. The pawnbroker…

A: Principal amount = $270 Amount paid = $289.80 Interest=$(289.80-270)=$19.80 t=12 days

Q: A Pawn Loan: Jeffrey Kowalski wants to take his mother out for dinner on her birthday, but until the…

A: This question can be solved using the concept of simple interest.

Q: Charlotte wants $30,000 in eight years by making monthly payments into an annuity that pays 4 1/2 %.…

A: Charlotte wants $30,000 in eight years by making monthly payments into an annuity that pays 412%

Q: Aradio commercial for a loan company states: "You only pay 30¢ a day for each $500 borrowed." if you…

A: Given The given principal value is $500 and interest is 30C. The borrowed money is $2,336 for 151…

Q: 2020 Ford Escape, Price is $28,000. Loan is 6 years at 3% interest monthly. Calculate the monthly…

A: The given data is: PV=$28,000Loan=6 yearsn=6×12=72r=3  To calculate the monthly payment using the…

Q: Jennifer Kaufman bought a used Toyota Prius for $17,500. She made a $4,500 down payment and is…

A: Given original price of Toyota is $17500 and down payment is $4500. Find the equal monthly payments…

Q: Willie deposits a fixed monthly amount into an annuity account for his child’s college fund. He…

A: We have to find monthly deposits and interest earned.

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.