   Chapter 13.II, Problem 37RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Calculate the missing information for the following installment loans that are being paid off early. Number of Pay mints Payments Sum-of-the- Digits Payments Sum-of-the- Digits Number Rebate Payments Made Remaining Remaining of Payments Fraction 37. 48 8 _______ _________ ________ ________

To determine

To calculate: The payments remaining, sum-of-the-digits of the number of remaining payments, sum-of-the-digits of total number of payments and rebate fraction if number of payments are 48 and payments made are 8.

Explanation

Given Information:

The numbers of payments are 48 and payments made are 8.

Formula used:

Follow the steps to compute the rebate fraction:

Sum-of-the-digits formula is computed through the formula:

Sum-of-the-digits=n(n+1)2

Where n represent the number of payment.

Compute the rebate fraction as follows:

Rebate fraction=Sum of the digits of the number of remaining paymentssum of the digits of the total number of payments

Calculation:

Consider numbers of payments are 48 and payments made are 8.

Compute the remaining payments by subtracting payment made from total payments.

Payment Remaining=488=40

Hence, the payment remaining is 40.

Compute the sum-of-the-digits of the number of remaining payments using the sum-of-digit formula.

Substitute n=40,

Sum-of-the-digits=n(n+1)2=40(40+1)2=820

Hence, the sum-of-the-digits of the number of remaining payments are 820

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