Installment buying tv town sells a big screen smart hdtv for $600 down and monthly payments of $30 for the next 3 years. if the interest rate is 1.25% per month on the unpaid balance, find (a) the cost of the tv (b) the total amount of interest paid

a) $ 1465.418

b) $ 214.582

Step-by-step explanation:

Since, the monthly payment formula of a loan is,

Where, PV is the principal amount of the loan,

r is the monthly rate,

n is the total number of months,

Here, P = $ 30, r = 1.25 % = 0.0125, n = 36 ( since, time is 3 years also 1 year = 12 months )

Substituting the values,

By the graphing calculator,

a) Thus, the cost of the TV = Down Payment + Principal value of the loan

= $ 600 + $ 865.418

= $ 1465.418

b) Now, the total payment = Monthly payment × total months

= 30 × 36

= $ 1080

Hence, the total amount of interest paid = total payment - principal value of the loan

=  $ 1080 - 865.418

=  $ 214.582.

from the figure we get,

the x axis shows   the months and,

the y-axis shows the number of satisfied customer.

each line or each cell in upward direction (y-axis) shows 500.

the appropriate scale for the y - axis is: -

a = 2000 customers

b = 4000 customers

c = 6000 customers

d = 8000 customers

e = 10000 customers

f = 12000 customers

g = 14000 customers

the data of the detroit pistons in numerical order from least to greatest is 0.30, 0.37, 0.55, 0.62, 0.69, 0.72, 0.73, 0.75, 0.77, 0.78, 0.80, 0.81, 0.81, 0.83, 0.84, 0.89

the data of the miami heat in numerical order from least to greatest is 0.50, 0.50, 0.56, 0.57, 0.67, 0.72, 0.72, 0.72, 0.75, 0.75, 0.76, 0.81, 0.82, 0.90, 1.00, 1.00

the detroit pistons median : 1.52

the miami heat median: 1.47

the iqr of this data is 0.05