Question

METAL FOR HELP

Vehicle: Chevy Volt
Price: $39,145

Current interest rate: 3%

Using the function A(t)=P(1+rn)nt, create the function that represents your new car loan that is compounded monthly. The principle will be the price of the vehicle you selected, not how much you are putting down.
Being a smart financial planner, you want to figure out how many months it will be until your principal is paid down to $10,000.00. Solve for t and show all of your work. Note that t will be negative because the number of months will decrease the principal.

Answer 1

Lastly, you decide to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate. Remember to use the formula A(t)=P[(1+rn)1c]cnt where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1+rn.

Answer 2

for the first part i got A(t) = 39,145(1+ 0.03/12)^(12t)

Answer 3

@cram

Answer 4

@BigDSpeedGod

Answer 5

@Melodysim

Answer 6

ok im here

Answer 7

oh i havent learned this yet so sry

Answer 8

@SolomonZelman can u plz help her?

Answer 9

hey srry i was packing my clothes cause im leavin on wednesday to dominican republic. let me see what i can do

Answer 10

what kind of math is this?

Answer 11

@ash2326 @TaylorTerminate could you possibly help...?
I am sorry I cant fiure this out bry :((((

Answer 12

alg 2 logs

Answer 13

@BigDSpeedGod

Answer 14

@am!rah

Answer 15

bry btw, did you mean to write "METAL"? lol I just looked at it :)

Answer 16

yea

Answer 17

:))) Its funny :)) I am really sorry I couldnt help you...

Answer 18

ITS COOL I NEED HELP THO LIKE REALLY BAD

Answer 19

forgot about caps

Answer 20

@genny7
I dont know if you remember me.. but I was wondering if you could help my friend out?
U seem really smart.. haha

Answer 21

lol

Answer 22

sorry i know nothing about that

Answer 23

ummm @driftracer305 helllllllllllllpppppppp please like really help

Answer 24

ugh ok then @mathmath333

Answer 25

@brala00

Answer 26

The principal would depend both on the price of the car and your down payment. Are you indicating that you are not paying any down payment and the car cost $39,145?

Answer 27

yes

Answer 28

In that case the Principal P = $39,145 the formula for a Loan vs an Investment would be