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AnswerKeyQuiz007

# AnswerKeyQuiz007 - Name ANSWER KEY Section Math 1050 Fall...

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Unformatted text preview: Name: ANSWER KEY Section: Math 1050, Fall 2007 Quiz#7 1. Rita buys a Toyota Ravi} for \$28500. She puts \$2500 down and then ﬁnances the rest at 5.99% interest compounded monthly for 5 years. a) Find the monthly payment. 3 points Financed: aggoo— 9500 _: 39,000 P R QQIOOU . H __.__—-4—-- ‘: __,_ ' b .099 “‘90 R ”a“ LiriL .oﬁ‘? F: 39:000 ‘3 i 2 £9.91? qlso total pds =60 [9“ . “-‘h-me '+ '5 ‘4‘? 7\ T; b) Find the amount she still owes after 4 years. 3 points l1 Pm)“ Payments Eff: ix '9‘ i I; 0 l l 3 ‘+ 9 ' ‘7" El" {'l amOUnf owed 0+ 39C]? 1—] (0? men”. HZ) Balance:? 3% = [2' am I were)“ _ :. 71:3 ( ” la. — 5'0953 am 503 ‘ may; qu 518301520 c) Find the total amount of interest she pays in the year 4. 4 points , 'ed Jr Recall: +5er Farts : “ij ﬁfth ‘_ if: diff. W”; balance (1+ and mt ﬂra' Ljsr and end of 4“" gear ﬂ) Balance at and of Head: @Bqlmce at end 0P year W'- @ A"!Jr ”Wired “(m-"1 B“: SOASB am 8‘43: 513730;, 30 It)55q-F.?3C1.RE> "5:50:03! = {gamer 69 Sousa X I2. = 3500-“ + WW ”‘1' POM in 36:” '1} ﬁnial in-l- Ford In year Q =- ...
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