Annie would like to take out a loan to put a new playground in her yard for her kids. she offers her car which is worth $7,800 as collateral. the loan officer at the bank is permitted to loan annie 92% of the value of her collateral. how much will annie be able to borrow for the playground using her car as collateral?
a.

$7,708.00
b.

$7,176.00
c.

$7,800.00
d.

$8,478.26

Annie will be able to borrow $ 7,716.00 for the playground using her car a collateral (option b).

Explanation:

Interpretation of the problem: to take out a loan to put a new playground in her yard for her kids, Annie offers her car which is worth $ 7,800 as collateral. Since the loan officer at the bank is permitted to loan Annie 92% of the value of her collateral, in order to know how much Annie will be able to borrow, you must use percentage calculations.

Percent is a definition: percent is the ratio of an amount with respect to one hundreed. The mathematical expressions derived from that definition is:

In this case, the percent that the officer is permitted to loan is known, 92%, the amount to borrow is unknown (x), and the base is the value of her car (the collateral), $ 7,800, which leads to the following equation:

Now, you can solve for x:

In conclusion, Annie will be able to borrow $ 7,716.00 for the playground using her car as collateral.

answer: domain and range mean all possible values of x and y that could be substituted to the inequality. a solution means all possible values that make the inequality statement true. so while the range is still all real numbers, the solution is the shaded area, for which y will always be greater than the line of the function.

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