Your parents’ original purchase price was $1,550.00 plus 7.25% sales tax. they enter into an agreement where the interest (11.75% apr) is waived for the first 12 months provided they make the required monthly payments; otherwise the interest is accrued from the date of purchase. they miss the first payment due date. the late fee is $29.00. how much is the interest?

The interest due to the late payment will be = $195.33 ( A )

Step-by-step explanation:

original purchase price = $1550

sales tax = 7.5%

APR ( annual percentage rate ) = 11.75%

late fee = $29.00

the Apr is the interest charged yearly and it is charged on the principal amount ( original amount ) of the property

The APR on the original purchase will be

11.75% of $1550 = $182.13

from this question the monthly payment of the APR will be

= $182.13 / 12 = $15.18

hence the total interest accrued/paid from the first month due to late payment is = APR payment + late fee

                  =  $182.13 + $29 = $211.13

let's cover over the formula of the vertex:

y = a(x – h)^2 + k

in this formula, (h,k) are the vertex, always remember that the positive or negative value of the vertex is based on the sign it has.

for example, if the vertex is -3,-6 then both the x and y value would have the positive sign attached to it and if it were a positive x and y value, then a negative sign would be attached to it.

with that being said, for our problem the x value is a positive one so we are looking for a number with a negative sign next to it, in this case the first and second choice.

however, for the first answer choice it isn't quite part of the formula so we know that the answer choice correctly displays the x value.

to confirm, we can see if the -1 fits correctly with the second answer choice, and as mentioned above a negative number will have a positive sign attached to it. so, for our problem we can see that -1 has been changed to +1, so we can confirm that the second answer choice is correct.

hence, our final answer is y=(x - 1)^2 + 1

-2x + 7 = 7

subtract 7 from both sides.

-2x = 0

divide both sides by -2.

x = 0