Question about M2K Garfield: It's All About Math Math (Ages 7-9) (GRF16AM201) for PC

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Brenda bought a swimming pool by obtaining an 8% add-on interest installment loan from the bank. The pool cost $2,400 and the bank required a 15% down payment and equal monthly payments for two years . How much is Brenda's monthly payment ?

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  • Anonymous Sep 07, 2008

    I thought it was $98.60 but I can definitely be incorrect :) Did you find out the solution after?

  • Anonymous Feb 05, 2009

    Brenda bought a swimming pool by obtaining an 8% add-on interest installment loan from the bank. The pool cost $2,400 and the bank required a 15% down payment and equal monthly payments for two years . How much is Brenda's monthly payment ?

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Hi, I was the one who was suggesting $98.60 . Are you doing the Mathematics course with ICS/Education Direct as well?

Posted on Sep 07, 2008

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Simple interest


Using fixed simple interest:
start with $1,500. Every year you get $75 in interest.
so after 3 years you have $1,500 + $225 = $1,725.00

Compound interest:
If you use/want compound interest you gain 5% of the new amount every year. So start with $1,500
Year 1: $1,500 + $75 = $1,575
Year 2: $1,575 + $78.75 = $1,653.75
Year 3: $1,653.75 + $82.6875 = $1736.4375
So final sum is $1736.4375.
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Money is borrowed at 7% simple interest after one year $833.53 pays off the loan how much was originally borrowed?


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The amount borrowed is a =833.53/(1.07)=779
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Give some example of math equation?


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2
x
3 + 7
2 × y + 5
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Example:
A car travels down the freeway at 55 kilometers per hour. Write an expression for the distance the car will have traveled after h hours. Distance equals rate times time, so the distance traveled is equal to 55 × h..
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The National Bank of Scotland pays 5% compound interest per annum. How much interest would be received after three years on a deposit of £980 in the bank?


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Second year: 5% from 1029£ is 51,45. So after the second year you will have 1029+51,45=1080,45
Third year: 5% from 1080,45 is 54,02. So after the second year you will have 1080,45+54,02=1134,47.
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1 Answer

In algebra formula,,,,carpeting cost $20.00 sq. yd you carpet a room that has a width of 15 ft, for $ 800.00 ,,what is the lenght of the room


Here is the Solution:

1. Convert 15 ft into yards. 1 yard = 3 feet
=> 15 ft = 5 yd

2. Find the area of the given room. The cost for given room is given, and cost for carpeting 1 sq. yd is given. So,
800/20 = 40 {i.e. 40 sq. yd (area of the given room)}

3. Now, Length * Width = Area
=> x * 5 = 40 [Taking Length = x yd]
=> x = 40/5
=> x = 8 yd
=> x = 8 * 3 ft
=> x = 24 ft

So, Length of the given room is 24 ft (8yd).

I hope this solved your problem (in time).

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