a person buys a washing machine in the condition that he shall pay sum of INR 5880 at the cash down payment and the same sum at the end of the first year and two years. what is the total interest paid by him in this scheme, if the rate of interest is 5% compounded yearly?​

Answers

Answer 1

Answer: $827

Step-by-step explanation:

Given that :

Cash down payment = 5880

Payment at end of first year = 5880

Payment at end of second year = 5880

Interest rate = 5% = 0.05 compounded yearly

Let purchase amount = y

Amount left after cash down = amount on which interest is paid = y - 5880

Interest at end of first year :

(y - 5880) * 0.05 = 0.05y - 294

Amount to pay plus interest :

Amount left after cash down payment - amount paid at end of first year + interest

y - 5880 - 5880 + 0.05y - 294

y - 12054 + 0.05y

= 1.05y - 12054

2nd year interest :

(1.05y - 12054) * 0.05

= 0.0525y - 602.7

Amount left + interest = 2nd year payment

(1.05y - 12054) + (0.0525y - 602.7) = 5880

1.1025y - 12656.7 = 5880

1.1025y = 5880 + 12656.7

1.1025y = 18536.7

y = 18536.7 / 1.1025

y = 16813.33

Hence,

Sales price of washing machine = 16813.33

Total amount paid = (5880 + 5880 + 5880) = 17640

Interest paid = $(17640 - 16813.33) = $826.67

= $827

Answer 2

The total interest paid by him in this scheme, if the rate of interest is 5% compounded yearly is INR 826.67

Given:

Down payment = INR 5880

Payment at end of first year = INR 5880 (same as down payment)

Payment at end of second year = INR 5880 (same as down payment)

Interest rate = 5%

= 5/100

= 0.05 compounded yearly

Amount of purchase = x

Amount remaining after down payment

= x - 5880

Interest at end of first year :

(x - 5880) * 0.05(5,880)

= 0.05x - 294

Amount to pay plus interest = Amount remaining after down payment - amount paid at end of first year + interest

= x - 5880 - 5880 + 0.05x - 294

= x - 12,054 + 0.05x

= 1.05x - 12,054

2nd year interest :

(1.05x - 12054) * 0.05

= 0.0525x - 602.7

Amount left + interest = 2nd year payment

(1.05x - 12054) + (0.0525x - 602.7) = 5880

1.1025x - 12656.7 = 5880

1.1025x = 5880 + 12656.7

1.1025x = 18536.7

divide both sides by 1.1025

x = 18536.7 / 1.1025

x = 16,813.33

Therefore, The cost of washing machine b is INR 16,813.33

Total amount paid = (5880 + 5880 + 5880) = INR 17,640

Amount of Interest paid = (17640 - 16813.33)

= INR 826.67

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

1. Let's review the information given to

1. Let's review the information given tous to answer the question correctly:

1. Let's review the information given tous to answer the question correctly:Mass of the cube made out of lead = 12

= 12grams

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Answer:

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Step-by-step explanation:


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Answers

Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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What is a quadratic equation?

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As per the question,

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Answers

Answer:

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Step-by-step explanation:

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Answers

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Step-by-step explanation:

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Step-by-step explanation:

Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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ANSWER CHOICES
1.6 hours
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Answers

Answer: 3.1 hours

Step-by-step explanation: Just took the quiz on edg.

  Water will reach a depth of 12 meters after 3.1 hours approximately.

   Function representing the level of water by 'y' and number of hours by 'x' is,

[tex]y=2.5\text{cos}(\frac{2\pi x}{12.5})+12[/tex]

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[tex]12=2.5\text{cos}(\frac{2\pi x}{12.5})+12[/tex]

[tex]12-12=2.5\text{cos}(\frac{2\pi x}{12.5})[/tex]

[tex]\text{cos}(\frac{2\pi x}{12.5})=0[/tex]

[tex]\frac{2\pi x}{12.5}=\frac{\pi }{2}[/tex]   (Since, [tex]\text{cos}(\frac{\pi }{2})=0[/tex])

[tex]\frac{\pi x}{12.5}=\frac{\pi }{4}[/tex]

[tex]x=\frac{\pi }{4}\times \frac{12.5}{\pi}[/tex]

[tex]x=3.125[/tex]

[tex]x\approx3.1[/tex] hours

    Therefore, water will reach a depth of 12 meters after 3.1 hours approximately.

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Answer:

Step-by-step explanation:

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The graph shows two accounts with the same principal and annual interest rate. Use the graph to estimate the answer to each question.

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After 35 years the simple interest is $600 while the compound interest is $860, while after 45 years the simple interest is $700 while the compound interest is $1160

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Interest is the amount of money made from investing a particular amount of time over a certain period of time. Interest can either be simple or compound.

From the graph given below:

After 35 years the simple interest is $600 while the compound interest is $860, while after 45 years the simple interest is $700 while the compound interest is $1160

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Jennifer had to finish 3 assignments during the week.
She completed the first assignment in 3 1/2 hours. The
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assignment took 2 1/2 hours more than the first. How
much time did it take her to complete the
assignments.

Answers

Answer:

6 1/2 hours

Step-by-step explanation:

3 1/2 + 1/2 + 2 1/2

4 + 2 1/2

6 1/2

First add the 3 1/2 and the 1/2 together to get 4. Then you add the 2 1/2 to the 4 to get 6 1/2. :)

Hope this helped!

Have an amazing day!!

PLEASE RATE!!

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Step-by-step explanation: 3hrs 30mins + 3hrs + 6hrs = 12hrs 30mins

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Answers

Answer:

image is attached (shaded area is where x could be)

Step-by-step explanation:

[tex]6x < 90[/tex]

divide both sides by 6

[tex]x < 15[/tex]

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Answers

Answer:

If you are asking for the median, it's 9.

explanation:

Find the middle number and round it up. That is how to find median.

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Answer:

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Step-by-step explanation:

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