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Concept explainers
In Exercises 1-10, use
Round answers to the nearest dollar.
Suppose that you are buying a car for $56,000, including taxes and license fees. You saved $8000 for a down payment. The dealer is offering too two incentives:
Incentive A is $10,000 off the price of the car, followed by a five-year loan at 7.34%.
Incentive B does not have a cash rebate, but provides free financing (no interest) over five years.
What is the difference in monthly payments between the two offers? Which incentive is the better deal?
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Chapter 8 Solutions
Thinking Mathematically (6th Edition)
- In the formula I=prt for simple interest, P stands for __________, r for _________, and t for__________.arrow_forward3. Jason started a lawn cutting business for the 10 weeks of summer. In his first week, he earned $80. Each week after the first, his earnings grew by $10 per week. How much did he make over the 10 weeks of summer? SNOL Test Scanarrow_forward(This is homework and is NOT provided marks! It is just for completion, but I am trying to understand HOW to do the question for when it appears on an exam.) Please answer question C! If you are willing to run out of cash for 10% of the days, how much cash should you put in the ATM each day? Round to nearest hundred dollar.arrow_forward
- A clothing merchant purchases a shipment of clothes for $37,000.00 with discounts of 8.00% and 6.00%. He sells it to a customer at a price which includes 20.00% profit on selling price and overhead expenses of 24.00% on selling price. a. How much did it cost him to purchase the container of clothes? Round to the nearest cent b. What was the selling price of the container of clothes? Round to the nearest centarrow_forward2. Franklin was smart and bought all of his textbooks for college used. This way, he saved 30% on the original price of the textbooks. If the books would have originally cost $315 dollars, how much did Franklin pay? After a 30% discount is removed, what percentage of the original cost remains? How much did Franklin pay?arrow_forwardPlease show complete solutions.arrow_forward
- I'm stumpped on the attached question. Please help, I'm getting a completly wrong answer when I work it! Thanks!arrow_forwardSuppose you have the alternative of receiving either $24,000 at the end of seven years or P dollars today. Currently, you have no need for money, so you could deposit the P dollars in a bank that pays 5% interest. What value of P would make you indifferent in your choice between P dollars today and the promise of $24,000 at the end of seven years? The value of P that would make you indifferent in your choice is $ .(Round to the nearest dollar.)arrow_forwardJane opened a checking account, which earns no interest, with a total of $125.00.Subsequently, Jane forgot she had ever opened the account and remembered it after 9months. However, the account is subject to a $5.00 service charge per month.Thereafter, she decides to commit additional deposits of $55.00 every month for thenext twenty-seven months.(i) How much money has been deducted from her checking account after 9months? (ii) How much money will be in her account after 36 months? d) Each year 5% of the inhabitants of a rural area move to the city. If the currentpopulation is 24,000. Hint: When the percent increases, you want the original 100%plus the additional. If it decreases, you want the original 100% minus the decrease. (i) What is the population of the rural area after 5 years? (ii) How long would it take for the population to double?arrow_forward
- 2) You get a new job with a salary of $2,833 per month. You decide to budget 25% of your salary for rent. In the paper you see an apartment for rent at $695 per month. Does this apartment fit in your budget of 25% of your salary? Explain.arrow_forwardDeductible A car owner may buy insurance that will pay the full price of repairing the car after an at-fault accident, or save $12 a year by getting a policy with a $500 deduct- ible. Her insurance company says that about 0.5% of drivers in her area have an at-fault auto accident during any given year. Based on this information, should she buy the policy with the deductible or not? How does the value of her car influence this decision?arrow_forwardIn an experiment, college students were given either four quarters or a $1 bill and they could either keep the money or spend it on gum. The results are summarized in the table. Complete parts (a) through (c) below. Students Given Four Quarters Students Given a $1 Bill Purchased Gum 25 16 pivuuvilly | |- (Round to three decimal places as needed.) c. What do the preceding results suggest? Kept the Money D 12 30 LEED OA. A student given four quarters is more likely to have spent the money than a student given a $1 bill. B. A student given four quarters is more likely to have kept the money than a student given a $1 bill. C. A student given four quarters is more likely to have kept the money. OD. A student given four quarters is more likely to have spent the money.arrow_forward
- Intermediate AlgebraAlgebraISBN:9781285195728Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningAlgebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
- College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
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