FEHW stermil . Hello Silver Find the a) down payment and b) amount financed in each row. Calculate the interest and maturity value in each row. Maturity Term Interest Value Interest Rates Down Payment Cash Down Payment Amount Purpose Principal Ordinary Exact (Days) b. Item (Cash) (Percent) Financed 45 a. 5 Price (in Dollars) Drum Set $ 900.00 4% 6% 30 a. b. a. $ Used Car Camcorder $ 120 b. $ 1,960.00 b . $ 640 4,800.00 10 - 123 a. Used Dirt Bike Th. Family Vacation 4,860 1,400 a . b. School Tuition for Twins 9,675.00 9 275 a. Used Truck 9,774 1,500 Dining Room Set 3,600 40% a. Office Equipment 9,480 15 Cruise Tickets 5,364 25 Determine the a) interest owed, and b) maturity value. Find the amount financed. days. 2. Sari Tagore obtains a $1,000 loan to purchase a laser printer. Her interest rate is 7% ordinary interest for 108 2. Owen Hawkins purchased carpentry equipment for $1,265 with a $100 down payment. 3. Megan Barnes purchased photography equipment for $4, 100 with a $1,000 down payment. Solve the problem below. On April 14, Mikos Souvakis borrowed $100,000 to remodel his restaurant kitchen with a single payment loan it back? at 10.5% ordinary interest. If his loan's maturity value was $104,375, how many days does Mikos have to pay Find the a) down payment, and b) amount financed. 4. Laurenz Huber financed the purchase of an $8,371.39 used car with a 15% down payment. ter 5. Linda Cusak purchased a $279.50 DVD player/stereo for her car. Using the store's credit pl Example 2 - Real-world Algebra Connection $50.00 down payment. Claudia Valdez took out a single-payment loan for $1,500.00 at 7.8% ordinary interest to pay her federal income tax bill. If the loan's maturity value is sis Step 1: Find the interest. 1. e is $1,529.25, when would Claudia have to pay b Maturity Value Principal + Interest 1,529.25 $29.25 $1,500.00 Substitute given values. Subtract $1,500.00 on both sides. Step 2: Find the time of the loan in days, t. Ordinary Interest = Principal Rate $29.25 360 ortellini Dentistry purchased new equipment for $3,950. The down payment is $150. 10,530 $1,500.00 0.078 360 Substitute given values. 90 $117t Multiply both sides by 360. Claudia would have to pay back the loan in 90 days. Divide both sides by $117. Concept Check Compute the a) interest and b) maturity value for each loan. (From Example 1) Find the a) down payment, and b) amount financed. (From Example 2) 1. Parker Logan purchased a new surfboard costing $600 and financed it at 9% ordinary interest for 90 days. Antonio Reyes purchased an antique chest for a $1,360 cash price. He made a 20% down payment. 2. Holmes Ostendorf added a tack room to his barn costing $4,850 financed at 7% exact interest for 120 days. Maya DiNardo purchased a diamond bracelet for $1,725. The down payment was 30%