Question

1. Ellen is purchasing a used car. She is paying $89 down plus $128.57 per month for 36 months. The total amount paid for the car financed in this manner is2.If shares of stock are purchased at 27 5/8 and then sold at 15 3/8 , then percent of loss is

Answer 1

Given:

Ellen is purchasing a used car.

She is paying $89 down plus $128.57 per month for 36 months.

Required:

We need to find the total amount paid for the car.

Step-by-step explanation:

The total amount paid for the car is

`A=down\text{ payment+\lparen the monthly payment}* number\text{ of months\rparen}`

`A=89+128.57*36`
`A=\text{ \$}4717.52`

Final answer:

The total amount paid for the car is $4717.52.

2)

The purchased price of the stock =27 5/8.

`27(5)/(8)=(27*8+5)/(8)=(221)/(8)`

The sold price of the stock = 15 3/8.

`15(3)/(8)=(15*8+3)/(8)=(123)/(8)`

The percentage of loss

`Loss=\frac{Purchaseprice-sold\text{ }price}{Purchase\text{ price}}*100`
`Loss=((221)/(8)-(123)/(8))/((221)/(8))*100`
`Loss=(221-123)/(8)*(8)/(221)*100`
`Loss=(98)/(8)*(8)/(221)*100`
`Loss=44.34389`
`Loss=44.3\text{ \%}`

Final answer:

`Loss=44.3\text{ \%}`