OpenStudy (anonymous):

Fred purchased a boat for $8,645. He made a down payment of$775. He applied for a six-year installment loan with an interest rate of 11.4% in the amount of $7,870. What is the total cost of the boat after six years? @satellite73 @ganeshie8 help me please 3 years ago ganeshie8 (ganeshie8): you must be having an EMI formula in your book ? 3 years ago ganeshie8 (ganeshie8): i don't remember the EMI formula, but i think you should start by finding the EMI 3 years ago OpenStudy (anonymous): 72*151.42 + 775 =$11,677.24 7870*(.114/12)/(1-(1+.114/12)^-72) = $151.42 3 years ago OpenStudy (anonymous): I don't know if it's right 3 years ago ganeshie8 (ganeshie8): whats teh EMI formula ? 3 years ago ganeshie8 (ganeshie8): use wolfram as ur calculator, don't work them manually http://www.wolframalpha.com/ 3 years ago OpenStudy (anonymous): so i'm wrong 3 years ago ganeshie8 (ganeshie8): 151.42 for EMI is correct ! 3 years ago OpenStudy (anonymous): Thanks 3 years ago ganeshie8 (ganeshie8): Total cost of boat would be$11676.92

3 years ago
ganeshie8 (ganeshie8):

Yeah I see you have worked that also correctly ! good job !!

3 years ago
OpenStudy (anonymous):

Thanks

3 years ago
OpenStudy (anonymous):

Which of the following is a consumer durable? food kitchen appliances dishes DVDs what about this one @ganeshie8 is not DVD I would say food idk if i'm right

3 years ago