The Giordanos buy $7300 worth of furniture for their new home. They pay $1000 down. The store charged 10% add-on interest. The Giordanos will pay off the furniture in 18 monthly payments(1 1/2 years). Find the monthly payment.

the monthly payment is $379.1

Step-by-step explanation:

The balance to be paid would be

7300 - 1000 = $6300

We would apply the periodic interest rate formula which is expressed as

P = a/[{(1+r)^n]-1}/{r(1+r)^n}]

Where

P represents the monthly payments.

a represents the amount to be paid

r represents the annual rate.

n represents number of monthly payments. Therefore

a = $6300

r = 0.1/12 = 0.0083

n = 12 × 1.5 = 18

Therefore,

P = 6300/[{(1+0.0083)^18]-1}/{0.0083(1+0.0083)^18}]

6300/[{(1.0083)^18]-1}/{0.0083(1.0083)^36}]

P = 6300/{1.16 -1}/[0.0083(1.16)]

P = 6300/(0.16/0.009628)

P = 6300/16.618

P = $379.1

3

step-by-step explanation:

in standard form:

a= dictionaries

b= maps

you have to buy 3 dictionaries, so put a 3 next to the a (dictionaries) so that you can multiply them by each other.

a3+b= 60 (the amount of money you have)

we already know the cost of a=15 so replace a with $15

($15 x 3)+b=60

multiply 15 and 3 to get $45 and replace it with $45

45+b=60

and then replace b with 15 to get the total:

45+15=60

that means you have $15 left after buying 3 dictionaries.

15 divided by the cost of a map ($5) equals 3.

so you can buy 3 maps.

sorry if it was confusing!

include a picture of the drawing in order for me to

step-by-step explanation: