   Chapter 13.II, Problem 38RE ### 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 38. 18 5 _______ _________ ________ ________

To determine

To calculate: The payments remaining, sum-of-the-digits of the number of remaining payments, sum-of-the-digits of a total number of payments and rebate fraction if the number of payments are 18 and payments made are 5.

Explanation

Given Information:

The numbers of payments are 18 and payments made are 5.

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 represents 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 18 and payments made are 5.

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

Payment Remaining=185=13

Hence, the payments remaining are 13.

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

Substitute n=13,

Sum-of-the-digits=n(n+1)2=13(13+1)2=91

Hence, the sum-of-the-digits of the number of remaining payments are 91

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