Elisa buys a violin, which costs $2200, through a hire purchase agreement. Under the agreement, she
pays a deposit of $500 and makes 8 monthly repayments of $320. Find the total interest charged and
the flat rate of interest, correct to two decimal places

-$860

-58.64%

Step-by-step explanation:

Given the cash price as $2200, the down payment as $500 and monthly installments of $320 for 8 months, the interest charged is calculated as;

Hence, the interest charged is $860

#Flat rate of interest is similar to simple interest rate.

Knowing n=8 months and interest as $860, the rate is calculated as:

Hence, the flat rate of interest over the 8 months is 58.64%

step-by-step explanation:

y = | -2(-2) |     →     y = | 4 |     →     y = 4       ⇒   (-2, 4)

y = | -2(-1) |     →     y = | 2 |     →       y =   2       ⇒   (-1, 2)    

y = | -2(0) |     →     y = | 0 |     →       y = 0         ⇒   (0, 0)

y = | -2(1) |   c →     y = | -2 |     →     y =   2         ⇒   (1, 2)    

y = | -2(2) |     →     y = | - 4 |     →     y =   4         ⇒   (2, 4)  

a

step-by-step explanation:

the answer is a