You are borrowing $4,285 to purchase a computer using a 36 month installment plan. determine the annual percentage rate (apr) and the monthly payment given that the interest charge is $513.26. round your answer to the nearest whole percent and to the nearest cent. a. 8%; $134.27 c. 7%; $133.29 b. 8%; $150.36 d. 7%; $148.16

The total of principal and interest is

... $4285 +513.26 = $4798.26

Dividing this into 36 equal payments gives a payment amount of ...

... $4798.26/36 = $133.285

There is no formula that will give the interest rate as a function of payment, principal, and time, but the appropriate equation can be solved graphically or iteratively. The result is the interest rate for this payment value is about 7.497%.

These numbers are consistent with answer choice ...

... c. 7%; 133.29

_____

Of course, that answer can be selected simply on the basis of the payment value.

The interest rate corresponding to a payment of 133.29 is 7.4999264%, which still rounds down to 7%.

answer: what do you mean

simplifying

5(x + -6) = 2(x + 3)

reorder the terms:

5(-6 + x) = 2(x + 3)

(-6 * 5 + x * 5) = 2(x + 3)

(-30 + 5x) = 2(x + 3)

reorder the terms:

-30 + 5x = 2(3 + x)

-30 + 5x = (3 * 2 + x * 2)

-30 + 5x = (6 + 2x)

solving

-30 + 5x = 6 + 2x

solving for variable 'x'.

move all terms containing x to the left, all other terms to the right.

add '-2x' to each side of the equation.

-30 + 5x + -2x = 6 + 2x + -2x

combine like terms: 5x + -2x = 3x

-30 + 3x = 6 + 2x + -2x

combine like terms: 2x + -2x = 0

-30 + 3x = 6 + 0

-30 + 3x = 6

add '30' to each side of the equation.

-30 + 30 + 3x = 6 + 30

combine like terms: -30 + 30 = 0

0 + 3x = 6 + 30

3x = 6 + 30

combine like terms: 6 + 30 = 36

3x = 36

divide each side by '3'.

x = 12

simplifying

x = 12

this should .