Part B) Georgette has just won a lottery and has to decide which payment scheme she should take. In the first schemeshe would receive $100,000 one year from now, then $110,000 two years from now, then $120,000 three years fromnow, etc. for 30 years. The other choice she has is to take $2,500,000 today. If Georgette can get 8% interest on hermoney which scheme should she take?

Given: first scheme: Georgette would receive $100,000 one year from now, for 30 years.second scheme:…

Answered: Part B) Georgette has just won a…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Dick and Jane are getting ready to purchase a new home. they are looking to take out a 30 year lone and know the current rate is 45% if they can afford to pay $1000 monthly payments ignoring other costs, than how much money can they borrow for the home purchase
Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings account is depleted, and they will need to borrow money in order to buy a new one. Sears offers them an installment loan at 16% (add-on rate). If the refrigerator at Sears costs $1,568 plus 5% sales tax, and Karen and Wayne plan to pay for the refrigerator for 3 years, what is the monthly payment? (Round your answer to the nearest cent.) Hint: See Section 11.2, Example 1$
Ben Halls is trying to decide whether to lease or purchase a new car costing $18,000. If he leases, he’ll have to pay a $600 security deposit and monthly payments of $450 over the 36-month term of the closed-end lease. Ben could earn 1% on the amount of any down payment or security deposit. On the other hand, if he buys the car then he’ll have to make a $2,400 down payment and will finance the balance with a 36-month loan with a 4% interest rate; he’ll also have to pay a 6 per cent sales tax ($1,080) on the purchase price, and he expects the car to have a residual value of $6,500 at the end of 3 years. Ben can earn 4 per cent interest on his savings.Use the automobile lease versus purchase analysis form in ‘ws_Car Lease or Purchase Analysis’ to find the total cost of both the lease and the purchase and then recommend the best strategy for Ben.
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Haylee takes the family out to dinner to celebrate her grandmother's birthday. There are 15 people, and the cost for each person is $19.00. The automatic gratuity for this size of a group is 15% and the sales tax is 6.9%. How much will dinner for this party cost?Haylee's family received excellent service at this dinner and decided to add 5% more to the tip. What will they pay with the added tip?Haylee's 2 sisters decide they want to help pay for the meal and they agree to split the bill between the 3 of them. How much will each pay if they split everything evenly?
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