1. do you have the 4 horsemen, lbym, and “why lottery is a stupid tax” on your note card? 2. zane bought a…

1. do you have the 4 horsemen, lbym, and “why lottery is a stupid tax” on your note card? 2. zane bought a $1,200 gaming system on an installment plan. he made a $350 down payment, and he must make monthly payments of $87.74 for the next three years. how much interest will he pay? 3. amaya purchased a scooter with nothing down and zero interest. the purchase price of the scooter is $2,188. she is required to make $40 monthly payments with the balance due at the end of 1 year. what will be the amount of the final payment?

1. do you have the 4 horsemen, lbym, and “why lottery is a stupid tax” on your note card? 2. zane bought a $1,200 gaming system on an installment plan. he made a $350 down payment, and he must make monthly payments of $87.74 for the next three years. how much interest will he pay? 3. amaya purchased a scooter with nothing down and zero interest. the purchase price of the scooter is $2,188. she is required to make $40 monthly payments with the balance due at the end of 1 year. what will be the amount of the final payment?

Answer

Explanation:

Step1: Calculate total amount paid by Zane

First, find the total amount of monthly - payments. There are 3 years and 12 months in a year, so the number of months $n = 3\times12=36$ months. The monthly payment is $87.74$. The total amount of monthly payments is $87.74\times36$. Then add the down - payment. $87.74\times36+350=3158.64 + 350=3508.64$

Step2: Calculate interest paid by Zane

The cost of the gaming system is $1200$. The interest paid $I$ is the total amount paid minus the cost of the item. $I = 3508.64−1200=2308.64$

Step3: Calculate final payment for Amaya

The purchase price of the scooter is $2188$. She makes monthly payments of $40$ for 12 months. The total amount of monthly payments is $40\times12 = 480$. The final payment $F$ is the purchase price minus the total amount of monthly payments. $F=2188 - 480=1708$

Answer:

  1. Cannot be answered as no information about note - card is given.
  2. $2308.64$
  3. $1708$