Consumer credit  Mathematics homework help
Number Sense, Estimation, and Financial Computations
Be knowing to likeness ALL of your effort details. Submit your counterarguments in a Word instrument in the Ace 2 IP Submissions area.
Question 1: CONSUMER CREDIT
For big purchases, sundry accumulations adduce a comprehensive entiretyitying liberty (buy now, pay after) that allows shoppers to buy things now extraneously paying the entiretyity at checkout.
1. Assume you bought new appliances for your newly renovated abode. Based on the primary epistle of your tardyst indicate, cull the entirety esteem of the appliances that you keep purchased. This get be personated by P. It does not necessarily keep to be a all estimate.
First epistle of your tardyst indicate  Possible esteems for P 
A–F  $5,000–$5,999 
G–L  $6,000–$6,999 
M–R  $7,000–$7,999 
S–Z  $8,000–$8,999 
Total esteem of the appliances, P  $ 8,500 
2. The accumulation where you bought these appliances adduceed you a supply that if you pay the entiretyity among 2 years, you get not be full any curiositybehalf for your purchases. However, if you are equable a day tardy in paying the entiretyity, the accumulation get enjoin you curiositybehalf for the 2 years.
Although the annual curiositybehalf reprove is grounded on your faith excellence, silence this on this assignment and instead, cull an curiositybehalf reprove betwixt 22% and 26%. This get be personated by r.
Annual Curiositybehalf reprove in decimal create, r  0.24 
3. Suppose you lacquire environing the entiretyity and pay it 1 day tardy. How ample interest do you pay if the accumulation enjoins you primal curiositybehalf? Because this is a dollar esteem, spherical your counterargument to the unswerving cent. (Assume t = 2 years.) Interest get be $2,040 perannum, adding up to $4,080 balance the 2 year bound
4. How ample is your entirety entiretyity—the entirety esteem of the appliances plus the curiositybehalf? Spherical your counterargument to the unswerving cent. The entirety entiretyity get sum up to the aggregate of $12,580.
5. How ample is your entirety entiretyity if, instead, the accumulation enjoins you curiositybehalf that is junctioned daily? Use 6 digits on your interjacent calculations, and spherical your developed counterargument to the unswerving cent. (Assume t = 2 years.)
P = $8,500 (the chief)
r = 0.24 (% reprove per halfyear)
t = 2 (years)
I = $8,500(0.24) (2) = $40.80. You get acquire $40.80 curiositybehalf entirety balance the two years.
6. How ample interest do you pay if it is junctioned daily? Spherical your counterargument to the unswerving cent.
7. Based on the promiseination of your calculations, transcribe a digest environing the dissimilitude betwixt primal and junction curiositybehalf. Simple curiositybehalf is computed grounded on the chief merely or createer aggregate of the adventitious specie. Junction curiositybehalf on the other influence is computed boundically. The computations understand the acquireed curiositybehalf from the chief plus the junctioned curiositybehalf acquireed balance a bound of interval.
8. Do you opine a comprehensive entiretyitying liberty is advantageous for shoppers? Expound your counterargument.
Question 2: Saving for Your Retirement
Suppose your motive is to keep a hunk sum that you can recede when you repair. To accomplish this, you determined to add a piece of your paycheck in an annuity.
1. Using the AIU Library or the Internet, interpret environing what skin of expenses you get be faced delay when you repair. Transcribe a brief digest of your investigation.
2. Based on your investigation, particularize the hunk sum, in U.S. dollars, that you failure to keep when you repair. This is the forthcoming esteem of your investment; personate it by F.
3. State the interval, in years, that you contemplation to add to your repairment entiretyity. Personate this by t.
4. Based on the primary epistle of your tardyst indicate, cull the annual curiositybehalf reprove for your repairment entiretyity. Personate this by r,and you get turn this to its decimal create. It does not necessarily keep to be a all estimate.
First epistle of your tardyst indicate  Possible esteems for r 
A–F  6.00%–7.99% 
G–L  8.00%–9.99% 
M–R  10.00%–11.99% 
S–Z  12.00%–13.99% 
Annual curiositybehalf reprove in decimal create, r 

5. From the table under, cull how sundry intervals per year you failure to add to your repairment. Personate this by n, and this get toboot be your junctioning bound.
Compounding Period  n 
Yearly  1 
SemiAnnually  2 
Quarterly  4 
Monthly  12 
6. Calcutardy the curiositybehalf reprove per junctioning bound, which you get personate by i, by dividing the annual curiositybehalf reprove from #4 by the junctioning bound from #5, (i.e.,
. Spherical your counterargument to 6 decimal places.
Interest reprove per junctioning bound, i 

7. Your subsidy per bound, which you get personate by C, to this repairment entiretyity is congenial using the forthcoming createula:
Using the esteems that you keep clarified for F, i, n, and t, calcutardy your subsidy per bound. Use six decimal places for your interjacent calculations, and spherical your developed counterargument to the unswerving cent.
NOTE: Make knowing to resurvey exponents and the command of operations from College Math Chapter 1.
8. Calcutardy your entirety subsidy to this repairment entiretyity, which you get personate by TC, by using the createula TC = C x n x t.
9. What can you say environing the dissimilitude in esteem betwixt your entirety subsidy (TC) and the hunk sum (F) that you get hold? Grounded on what you keep knowing in this ace, is there a promise that is used for this dissimilitude?
10. Summarize the promiseinations of your calculations, and expound why it is leading to just for your repairment.