To explain: the factors Madison might consider before making a decision to select a lease.
Answer to Problem 2CFU
The three factors are down-payment, payment over time and time period for payment.
Explanation of Solution
Given information:
Refer an application at the beginning of the lesson. The lease is of 2 years.
The equations given are as follows:
Calculation:
In the equation t is time and C(t) is the cost as function of time. Since, lease time (t) is known and C(t) depends on the time then.
Put
On solving the equations, we identified that the cost would be reduced most with 200 down-payment and 326 per month cost for the period of 2 year.
Thus, the three factors Madison might consider before making a decision to select a lease are as follows:
- Down-payment
- Payment over time
- Time period for payment.
Chapter 2 Solutions
Advanced Mathematical Concepts: Precalculus with Applications, Student Edition
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