Suppose that you borrow $15,000 for five years at 8% toward the purchase of a car. find the monthly payments and the total interest for the loan. the monthly payment is? the total interest for the loan is?

Step-by-step explanation:

Using the time-value-of-money functions on your calculator, you can find the monthly payment to be $304.15.

The calculator function requires several inputs. There are 12 payments per year for 5 years, for a total of 60 monthly payments. As the problem statement tells you, the present value is 15,000, the interest rate is 8%. You want the remaining amount due after 5 years (the future value) to be zero. There are 12 payments per year, and interest is compounded 12 times per year.

After finding the monthly payment, you can find the total amount repaid by multiplying it by 60 (the number of months). Then the interest paid is the difference between that ($18249.00) and the initial loan amount ($15,000.00).

... $18,249 -15,000 = $3,249.00

The attachment shows what these calculations look like on a TI-84 calculator.

answer set (b) 0.5, 3/4 80% is in order from least to greatest.  

step-by-step explanation:

in order to compare rational numbers to each other, it is much easier if they are in the same form.   typically, the best form in which to evaluate rational numbers is in decimals.   in order to convert a percent to a decimal, you would divide the given percentage by 100.   you can also accomplish the conversion by moving the decimal point over two places to the left.   for example, the decimal value of 80% is 80/100, or 0.8.   in order to convert a fraction to a decimal, you need to divide the numerator by the denominator.   for example, 3/4 is 0.75.   so, for choice (b) 0.5 3/4 (0.75), 80% (0.8) is the only choice in which the numbers are in order from least to greatest.