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Babyslapmafro
 one year ago
Please help. University tuition and fees can be paid by using one of two plans.
Earlybird: Pay total amount due 1 year in advance and get a 10% discount.
Ontime: Pay total amount due when classes start.
The cost of tuition and fees is $10,000 per year.
(a.) How much is paid in the earlybird plan?
Answer: $9000
(b.) What is the equivalent amount of the savings compared to the ontime payment at the time that the ontime payment is made?
Answer: ???
Please help with part (b.), thanks.
Babyslapmafro
 one year ago
Please help. University tuition and fees can be paid by using one of two plans. Earlybird: Pay total amount due 1 year in advance and get a 10% discount. Ontime: Pay total amount due when classes start. The cost of tuition and fees is $10,000 per year. (a.) How much is paid in the earlybird plan? Answer: $9000 (b.) What is the equivalent amount of the savings compared to the ontime payment at the time that the ontime payment is made? Answer: ??? Please help with part (b.), thanks.

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Ok, I think it means the earlybird has to pay another 9000 by the time the ontime starts paying...

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Or maybe it just wants you to say 1000.

Babyslapmafro
 one year ago
Best ResponseYou've already chosen the best response.0This is the answer: (b) Equivalent future amount = 9000(1 + 0.10) = $9900 Savings = 10,000 – 9900 = $100

Babyslapmafro
 one year ago
Best ResponseYou've already chosen the best response.0I don't understand it.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0I'm so sorry I don't know either...:,(

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0bump the question up.
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