MATH133_unit 1 _ DB assignment

# MATH133_unit 1 _ DB assignment - MATH133 The car of my...

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March 23, 2011 The car of my dreams at the present time is a dark Plum, 2011 Dodge Challenger. I found a list of pricing for my dream car at Motor Trends website for \$25, 495.00. I went to my personal banking website, Texell Federal Credit Union, and found a personal loan (for a car) to be at a low 3 % apr. After reducing the interest rate by 1% per the “Simple Interest Car Loans” ad, I was left to calculate the amount of interest, monthly payments, and the total cost of my dream car. Below are the calculations WITH the ad from Simple Interest Car Loans; Determine the Interest. I=P*R*T I= 25,495*.02*5 I= 510*5 I=\$ 2,250.00 Determine the Total Cost. TC= (P*R) T + P TC= (25,495 *.02) 5 +25,495 TC= (510) 5 TC= 2,250 + 25, 495 TC= \$27, 745.00 Model the total cost as a Linear Function, with Time as the Independent Variable. F(T)= (P*R) T +P F(5)= (25,495 *.02) T * P F(5)= (510) * 5 + P F(5)= 2,250 + 25, 495 F(5)= \$27, 745.00 Divide total cost by the number of months, to determine the Monthly Payment. TC / M= monthly payment

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## This note was uploaded on 05/21/2011 for the course MATH 133 taught by Professor Hutchins during the Winter '10 term at AIU Online.

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MATH133_unit 1 _ DB assignment - MATH133 The car of my...

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