Jon and Erin are purchasing a new TV and stereo surround system for their living room. The cost of both items is $1675.00. They are purchasing them with an installment loan that has an APR of 12%. The store financing requires a 10% down payment, and 12 monthly payments. A. Find the amount of the down payment. B. How much will they finance? C. Write an equation for the monthly payment. Use the chart below.

$167.50

$1507.50

$134

Step-by-step explanation:

Given that:

Cost of sound system = 1675

APR, = 12%

Down payment = 10%

Number of monthly payments = 12

r = 0.12 / 12 = 0.01

Amount of down-payment :

10% * cost of sound system

0.1 * 1675 = $167.50

Amount to be financed :

$1675 - $167.50

= $1507.50

Monthly repayment :

Using the relation :

A / {[(1+r)^n]-1}/[r(1+r)^n]

1507.5 / (1+0.01)^12-1)/(0.01(1+0.01)^12)

1507.50 / 0.1268/(0.01 * 1.1268)

1507.50 ÷ (0.1268/0.01126)

1507.50 ÷ 11.25

= $134

answer: city needs 2.4 inches of rainfall more to match the record of 40 inches.

step-by-step explanation:

since we have given that

total annual rainfall a city record = 40 inches

this year, total rainfall recorded = 37.6 inches

number of inches of rainfall   is needed to match the record of 40 inches is given by

hence, city needs 2.4 inches of rainfall more to match the record of 40 inches.

my dear correct answer is option number 3