Respuesta :
Answer:
The answer is "option b"
Step-by-step explanation:
Amount = $26,900
r= 0.0818 %
[tex]i=\frac{r}{4}\\\\[/tex]
[tex]=\frac{0.0818}{4}\\\\=0.02045[/tex]
t= 8 years
[tex]n= 8 \times 4[/tex]
[tex]=32[/tex]
[tex]D=\frac{1-(1+i)^{-n}}{i}\\[/tex]
[tex]=\frac{1-(1+0.02045)^{-32}}{0.02045}\\\\=\frac{1-(1.02045)^{-32}}{0.02045}\\\\=\frac{1-0.52319627}{0.02045}\\\\=\frac{0.47680373}{0.02045}\\\\=23.3155858[/tex]
[tex]Q= \frac{Amount}{Discount \ factor }\\[/tex]
[tex]=\frac{26900}{23.3155858} \\\\=1153.73468[/tex]
Payment [tex]=1153.73468 \times 32\\\\[/tex]
[tex]= \$ 36919.5098\\[/tex]
[tex]\text{Total interest = Payment - amount}[/tex]
[tex]= \$ 36919.5098 - \$ 26900 \\\\ = \$ 10019.5098[/tex]
[tex]\text{Finance charge = Total interest + service charge}[/tex]
[tex]= \$ 10019.5098 + \$ 1527\\\\ = \$ 11546.5098[/tex]
