Question

@jim_thompson5910 im sorry to bother you again. your probably getting really tired of me. But i need some major help? :)

Answer 1

with what?

Answer 2

my homework problems :( i did a lot but i just left the ones i had no idea how to do blank

Answer 3

go ahead and post the problem

Answer 4

heres one of them

Gilbert is graduating from college in twelve months, but he will need a loan in the amount of $5,125 for his last two semesters. He may either receive an unsubsidized Stafford Loan with an interest rate of 6.8%, compounded monthly, or his parents may get a PLUS Loan with an interest rate of 7.8%, compounded monthly. The Stafford Loan has a grace period of six months from the time of graduation. Which loan will have a higher balance at the time of repayment and by how much?

a. The Stafford Loan has a higher balance by $134.35.

b. The Stafford Loan has a higher balance by $274.36.

c. The PLUS Loan has a higher balance by $54.79.

d. The PLUS Loan has a higher balance by $85.22.

Answer 5

hint: use the formula

FV = P(1+r/n)^(n*t)

Answer 6

i know but i dont know where to place the actual numbers at

Answer 7

for the stafford loan

P = 5125
r = 0.068
n = 12
t = 1.5

Answer 8

i got 8226.8540794197349413091911122656525155408364945497242 @jim_thompson5910

Answer 9

you typed in 5125(1+0.068/12)^(12*1.5) right?

Answer 10

yes i did

Answer 11

hmm well 8226.85 is a bit off

Answer 12

idk thats what i got

Answer 13

type 5125(1+0.068/12)^(12*1.5) into google and tell me what you get

Answer 14

ok now im getting 5673.7065244591336858008052356491880533490451773300587

Answer 15

you only need 2 decimal places since this is in dollars and cents

Answer 16

so 5673.7065 rounds to 5673.71

Answer 17

now for the second loan use

P = 5125
r = 0.078
n = 12
t = 1

Answer 18

5539.355278123270234124362507095422315360137939453125 i got this for the second one @jim_thompson5910

Answer 19

5539.355 rounds to 5539.36

Answer 20

now subtract the two results

Answer 21

i got it! so its a?

Answer 22

perfect

Answer 23

thank you! here is the second one:)
Bailey purchased a home entertainment center for $3,276 using an 18-month deferred payment plan with an interest rate of 26.24%. She did not make any payments during the deferment period. What will Bailey's monthly payment be if she must pay off the home entertainment center within three years after the deferment period?

a. $134.32

b. $195.44

c. $91.00

d. $195.09

Answer 24

first use this formula

FV = P(1+r/n)^(n*t)

and in this case

P = 3276
r = 0.2624
n = 12
t = 1.5

Answer 25

ok i got this 4835.4854552694241731390959317045354292370215020749041

Answer 26

ok so after the deferment period, Bailey will owe 4835.49 dollars

Answer 27

ok gotcha

Answer 28

now use this monthly payment calculator

http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx

Answer 29

ok i got 132.41?

Answer 30

hmm what did you type in

Answer 31

i see what you did, you typed in the wrong loan amount

Answer 32

oh uh oh :(

Answer 33

remember, the loan amount starts at 3276 and it grows to 4835.49

Answer 34

$195.42

Answer 35

hmm it's a bit off

Answer 36

I'm getting 195.44

Answer 37

oh i see what i did wrong. now i got it

Answer 38

hmm what's that?

Answer 39

the same as you:) i entered in the interest rate wrong this time.

Answer 40

oh gotcha

Answer 41

Use the cumulative frequency graph "'The Monster' Hit Points" illustrating the total number of hit points earned per level on the video game "The Monster."

How many hit points were earned on level 3?

a. 25

b. 87

c. 112

d. cannot be determined

Answer 42

located level 3 on the x axis

draw a vertical line

find where the vertical line crosses the blue graph

Answer 43

the y coordinate of the point is the answer

Answer 44

87? that crosses!

Answer 45

yep

Answer 46

Caitlin works at a department store and earns $12.75 per hour. She has $42 removed from every paycheck for medical insurance. If her goal is to earn a gross income of $633.75 in one week, how many hours ( h) must Caitlin work?


a. 47

b. 53

c. 15

d. 16

Answer 47

hmm thinking....

Answer 48

do i use that formula again?

Answer 49

oh ok, you need to solve the following equation for x

12.75x - 42 = 633.75

Answer 50

alrighty one sec

Answer 51

hmmm 53?

Answer 52

yep, nailed it

Answer 53

oh yay! now for this one i already eliminated choice A.
Orion is catering a dinner party for more than 30 guests. Each guest has a choice between a vegetarian dinner or a steak dinner. The vegetarian dinner is $20 per plate and the steak dinner is $30 per plate. Orion can spend no more than $770 on the entire party. If Orion wants to purchase the most amount of food and still stay within budget, which combination of vegetarian and steak dinners is optimal?


a. (28, 7)

b. (22, 11)

c. (37, 1)

d. (34, 3)

Answer 54

you need to plug each point into

C = 20x + 30y

and tell me what you get

Answer 55

i plugged in B. and i got 770

Answer 56

i plugged in C. and i got 770

Answer 57

for d i got 779

Answer 58

So D?

Answer 59

I'm getting 770 for all of them, hmm let me think

Answer 60

oh it says "Orion wants to purchase the most amount of food"

so if F is the amount of food, then

F = x+y

Answer 61

plug each point info F = x+y and tell me what you get

Answer 62

i got 35, 33, 38, and 37

Answer 63

so the one that gave you 38 produces the most food, which means that x = 37 and y = 1 is the option with the most food

Answer 64

oh! i see now!

Answer 65

Jaime purchased some power tools totaling $1,893 using a six-month deferred payment plan with an interest rate of 26.38%. He did not make any payments during the deferment period. What will the total cost of the power tools be if he must pay off the power tools within two years after the deferment period?
a. $2,798.64

b. $1,893.00

c. $3,498.30

d. $2,156.82

Answer 66

first use the formula FV = P(1+r/n)^(n*t)

Answer 67

what do i need to plug in?

Answer 68

in this case

P = 1893
r = 0.2638
n = 12
t = 0.5

Answer 69

ok i got 2156.8179727419935196362182805498328189300411522633744

Answer 70

ok one sec

Answer 71

ok

Answer 72

ok now you go back to that calculator and type in the given info to get the monthly payment of _________ (fill in the blank)

Answer 73

2156.82

Answer 74

that's way too high, I'm looking for the monthly payment

Answer 75

what do i do? i dont understand

Answer 76

what calculator?

Answer 77

oh sorry, this calculator

http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx

Answer 78

and you type in 2156.82 into the loan amount, 2 in the years box, and the interest rate in the rate box

Answer 79

i got 116.61?:)

Answer 80

perfect

Answer 81

do i add them both together now?

Answer 82

oh wait, we're not done lol, sry got distracted, but that's the correct monthly payment

Answer 83

what you do now is multiply that by 24 since there are 24 monthly payments

Answer 84

since 2 years = 24 months

Answer 85

so A!:)

Answer 86

correct

Answer 87

yay!

Answer 88

Burt made some home improvements for $4,531 using a six-month deferred payment plan with an interest rate of 26.54%. What is the balance after the deferment period if no payments are made?


a. $4,531.00

b. $5,096.92

c. $5,166.51

d. $5,733.53

Answer 89

you guessed it...we're using this formula again

FV = P(1+r/n)^(n*t)

Answer 90

I'm sure accountants have that formula (among others) tattooed on their arm for easy reference

it's used a lot

Answer 91

oh my gosh lol! ok hold on let me solve this real quick!

Answer 92

what do i plug in?

Answer 93

P = 4531
r = 0.2654
n = 12
t = 0.5

Answer 94

hopefully you are seeing how I'm getting these numbers so you can do it on your own

Answer 95

this formula is used a lot, so it's best to get used to it and memorize it