Question

You are going to purchase a new car, but being a responsible consumer means doing a little bit of research first.

First, you find the vehicle you are purchasing and its price.
Vehicle: Chevy Volt
Price: $39,145

Current interest rate: 3%

Using the function A(t)=P(1+
r
n
)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.

Answer 1

this is in english

Answer 2

someone please hellp me

Answer 3

put it in the math section and im pretty sure youll get more help.

Answer 4

oh whoops

Answer 5

yeahh.
What grade is this.

Answer 6

and the answer is 39145(1.0025)^12T

Answer 7

can you help me with the second part?

Answer 8

whats the second part.

Answer 9

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 10

@kbest

Answer 11

-45.5464252561 , / -45.55 months, or -46 months rounded

Answer 12

can you show me the work please?

Answer 13

ok , hold on.

Answer 14

hello? @kbest

Answer 15

sorry, only in school for a couple more min, got to go.

Answer 16

ok thanks i rlly need ur help

Answer 17

can u plz help me with the third question, its the last one i promise

Answer 18

@kbest

Answer 19

@StudyGurl14 can u help?

Answer 20

whats the 3rd question

Answer 21

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+
r
n
)
1
c
]cnt where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1+
r
n
.

Answer 22

@kbest

Answer 23

Do you understand it ?