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Author Question: Driver Martin is given a 10 discount on auto insurance as a low-risk driver. The regular premium ... (Read 97 times)

ishan

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on: Jun 24, 2018
Driver Martin is given a 10 discount on auto insurance as a low-risk driver. The regular premium would be 1,800 for a year. If Martin qualifies for the discount every year for 5 years, compute the amount Martin will save on insurance premiums.

Question 2

Judy Baker borrowed 5,00 . and agreed to amortize the loan over 7 months by making monthly payments with interest of 9 compounded monthly on the unpaid balance each month. Compute the size of Judy's monthly payments. Use Tables 23-2A and 23-2B or a calculator.


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ttt030911

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Reply #1 on: Jun 24, 2018
Answer to Question 1

900

Answer to Question 2

5,00 .  6.79464 = 735.87 monthly payments


ishan

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

daiying98

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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