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

step-by-step explanation:

the ratio of red paint to blue paint is always 9/7. that means that, whatever x's value, (4x+12)/(4x-4) has that same ratio. so, set up an equation and cross-multiply to solve for x:

9/7 = (4x+12)/(4x-4)

9(4x-4) = 7(4x+12)

36x - 36 = 28x + 84

8x - 36 = 84

8x = 120

x = 15

146

step-by-step explanation: