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Author Question: John Christopher, a low-risk driver, is insured by a company that gives a 10 discount for the first ... (Read 159 times)

lidoalex

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on: Jun 24, 2018
John Christopher, a low-risk driver, is insured by a company that gives a 10 discount for the first year, 20 the second year, 25 the third year, and 30 every year thereafter. Christopher has qualified as a low-risk driver for the last 5 years. Compute the amount Christopher saved in premiums if the regular premium is 1,000.

Question 2

Brendina Gillespie wanted to buy a new car. A bank would loan the sum of 18,00 . if Brendina would repay the loan over two years. Compute the size of the monthly payment that Brendina needs to pay in order to amortize the loan with interest of 12 compounded monthly on the unpaid balance. Use Tables 23-2A and 23-2B or a calculator.


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peilian

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

1,150

Answer to Question 2

18,00 .  21.24339 = 847.32 monthly payments


lidoalex

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

adammoses97

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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