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1. A farmer shows up at a tractor dealership with $150,000 to buy a tractor priced at $148,875. The excess after buying
Posted: Sat Jul 09, 2022 2:03 pm
by answerhappygod
- 1 A Farmer Shows Up At A Tractor Dealership With 150 000 To Buy A Tractor Priced At 148 875 The Excess After Buying 1 (282.16 KiB) Viewed 32 times
1. A farmer shows up at a tractor dealership with $150,000 to buy a tractor priced at $148,875. The excess after buying the tractor will be used to pay for license, insurance and maintenance for the first few months. A [3 pts] Since he is paying cash for the tractor he is able to negotiate 15% reduction off the sticker price. How much did he pay for the tractor? B. [3 pts] How much money does he have available for license, insurance and maintenance. C. [5 pts] How much money did he invest 11 years ago at 8% compounded monthly to be able to have $150,000 to buy the tractor and cover the other costs? Round your answer to the nearest dollar. A = P(1+)nt