Author Question: Driver Blake, a low-risk driver, is insured by a company that gives a 5 discount for the first year, ... (Read 276 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
Driver Blake, a low-risk driver, is insured by a company that gives a 5 discount for the first year, 10 the second year, 15 the third year, and 20 every year thereafter. Blake has qualified as a low-risk driver for the last 10 years. Compute the amount Blake saved in premiums if the regular premium is 2,000.

Question 2

Lester Newlander needed to borrow 20,00 . for his business. Lester's father agreed to loan him the money and amortize it over 21 months with monthly payments and interest on the unpaid balance of 6 compounded monthly. Compute the size of Lester's payments. Use Tables 23-2A and 23-2B or a calculator.



TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Answer to Question 1

3,400

Answer to Question 2

20,00 .  19.88798 = 1,005.63 monthly payments



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

For a complete list of videos, visit our video library