Problems 37 and 38 refer to the following ads. Use the information given in the Bison sedan ad to determine if this is really 0 0 0 financing. If not, explain why and determine what rate a consumer would be charged for financing one of these sedans.
Problems 37 and 38 refer to the following ads. Use the information given in the Bison sedan ad to determine if this is really 0 0 0 financing. If not, explain why and determine what rate a consumer would be charged for financing one of these sedans.
Solution Summary: The author explains that the Bison sedan is not on 0% financing, and the annual nominal rate charged to consumer is 11.29%.
Use the information given in the Bison sedan ad to determine if this is really
0
0
0
financing. If not, explain why and determine what rate a consumer would be charged for financing one of these sedans.
Suppose that under your health insurance policy, hospital expenses are subject to a $750 deductible and $150 per day copay. You get sick and hospitalized for 4 days, and the bill (after your insurance discounts are applied) comes to $6250. How much of that hospital bill will you have to pay yourself.
. Kurt has saved $160 to buy a stereo system that costs $400 including taxes. If he earns $8 an hour after all payroll deductions have been made, how many hours will he have to work in order to have exactly enough money to buy the stereo system?
. Janice receives a check from her parents for $1200, which covers her rent of $675 per month, the electricity of approximately $210 per month, and her car payment of $376 per month. She also works at a local restaurant and earns roughly $1300 per month after taxes. Each month, her cell phone costs $210, her car insurance is $184, and she spends about $170 for gas. She also sells her paintings at the flea market. On average, she sells about 6 paintings per month for an average of $50 per painting. Janice has a Hulu account for $45 each month, and her grocery bills average $500 for one month.
List each income source and the monthly amount.
Calculate the total monthly income.
List each expense and the monthly amount.
Calculate the total monthly expenses.
What is the monthly cash flow?
Does Janice have a positive or negative monthly cash flow? What does that mean?
Does Janice have money left to save or spend on luxuries each month? If…
Chapter 3 Solutions
Finite Mathematics for Business, Economics, Life Sciences, and Social Sciences (13th Edition)
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