Question

Help!!!!!!!!!!!!!!

Answer 1

I'll help you rukhsar

Answer 2

or at least try to :0

Answer 3

A man buys a machine under the deal, that he pays 10% of the machine's price as downpayment, and repays the rest of the cost plus 13% simple interest ( on the price of the machine) within 1 year. The amount of disbursements is immaterial, only the net payable matters. If the entire payment is not made by one year of the purchase, the net payable increases due to a fixed increase of the interest rate, which rises as 3% per year (following the first year). If the man managed to pay off the entire payable (including the down payment) amounting to $10,500 only by the third year, what was the initial cost of the machine?
A) $9,051.72
B) $8,000.00
C) $8,823.52
D) $9292.03

Answer 4

Help @Ahlpa_Omega32

Answer 5

okay give me second to look over it okay??

Answer 6

sure

Answer 7

well i can't really get the answer @rukhsar its confusing me a bit..how about i get a friend in here to help you?

Answer 8

@Ahlpa_Omega32 yes please..

Answer 9

okay my friend's coming

Answer 10

@Xmoses1

Answer 11

I think that it is C

Answer 12

@Xmoses1 tell me is it 13% + 3% for 3 years OR 16% together for 3 years??

Answer 13

Well i went with 13% + 3% for 3 years

Answer 14

16% compounded annually would get you a different answer

Answer 15

i'll try to solve it backwards... will tell u tommorrow

Answer 16

Ok let me know what you get

Answer 17

let the cost be X:
0.1X + 3[13% 0f (0.9X)] + 3[3% of (0.9X)] + 0.9X = 10,500
is it the right equation??

Answer 18

@rukhsar @Xmoses1 isn't on right now sorry

Answer 19

@Ahlpa_Omega32 okay.

Answer 20

I thought you might like to know

Answer 21

@Ahlpa_Omega32 Thank you :)

Answer 22

Your welcome @rukhsar :P

Answer 23

hey i solved it... thanks anyways :)