Compare the monthly payment amount of annabelle's dream car at two different car dealerships.
dealership a: the car costs $30,000, and the loan has an annual interest rate of 4.8%.
dealership b: the car costs $29,800, and the loan has an annual interest rate of 5.4%.
determine the monthly payment for each dealership, and decide which is cheaper. both interest rates are compounded
monthly. both loans are for 5 years, or 60 months. assume that there is no down payment.

By comparing both the payments we can say that Dealer A is cheaper by $4.50.

Step-by-step explanation:

Dealership A: The car costs $30,000, and the loan has an annual interest rate of 4.8% for 5 years.

The EMI formula is :

Now, p = 30000

r =

n =

Putting values in formula we get;

=>

EMI is = $563.34

Dealership B: The car costs $29,800, and the loan has an annual interest rate of 5.4% for 5 years.

p = 29800

r =

n =

Putting values in formula we get;

=>

EMI = $567.84

By comparing both the payments we can say that Dealer A is cheaper by $4.50.

step-by-step explanation:

the original amount doesn't ''re just looking for the time it takes for 1/2 of the substance to we have

(1/2) =)     take the ln   of both sides

ln (1/2)   = )   and we can write

ln(1/2) = ) lne     and lne   = 1     so we have

ln(1/2) = -.1092t     divide both sides by -.1092

t = ln(1/2)/-.1092 = about 6.347 days = about 6.3 days (rounded)

heyyy

step-by-step explanation: