Questions from Financial Algebra

Q: Lexi moved into an apartment in the suburbs and pays $1

Lexi moved into an apartment in the suburbs and pays $1,975 rent per month. The landlord told her that the rent has increased 3.6% per year on average. Express the rent y as an exponential function of...

Q: Harley built a concrete patio in her backyard. It is a

Harley built a concrete patio in her backyard. It is a free-form shape and she needs to find the area of it for property tax purposes using the Monte Carlo method a. She takes a diagram of the patio...

Q: Ivonne has a gross bimonthly income of $2,900.

Ivonne has a gross bimonthly income of $2,900. She pays 16% in federal and state taxes, puts aside 12% of her income to pay off her school loan, and puts 5% of her income aside for savings. She is con...

Q: The square footage and monthly rental price of 15 similar two-

The square footage and monthly rental price of 15 similar two-bedroom apartments in Martha’s Cove yield the following linear regression equation: y = 1.137x + 598.98, where x represents the square foo...

Q: Johnny took out a $500,000, 30-year

Johnny took out a $500,000, 30-year mortgage with an APR of 4.15%. The first month he made an extra payment of $1,000. What was his balance at the end of that first month?

Q: Ina is depositing money into a savings account that pays 1.

Ina is depositing money into a savings account that pays 1.4% interest compounded quarterly. She wants to determine how long it will take for $2,000 to grow to $2,400. Use the steps below to find the...

Q: James rents an apartment with an initial monthly rent of $1

James rents an apartment with an initial monthly rent of $1,600. He was told that the rent goes up 1.75% each year. Write an exponential function that models this situation to calculate the rent after...

Q: Elizabeth is moving from a one-bedroom apartment in one city

Elizabeth is moving from a one-bedroom apartment in one city to a similar apartment in another city. She has been quoted a flat fee for the truck rental and has two estimates for wages of the movers s...

Q: Fill in the missing entries in this loan amortization table for a

Fill in the missing entries in this loan amortization table for a $220,000 20-year mortgage with an APR of 2.95%.

Q: Examine the straight line depreciation graph for a car.

Examine the straight line depreciation graph for a car. a. At what price was the car purchased? b. After how many years does the car totally depreciate? c. Write the equation of the straight lin...