The smallest value will be obtained by giving x the smallest possible value while y gets the largest possible value. The smallest value for x = 7. This means that y will have to be less than or equal to 3 (so that x + y <11), but we want the largest value of y which is 3.
The difference, x - y will be 4.
Cash price = $3695
Deposit =1/3 of $3695 = $1231.67
Loan amount = $3695.00 ? $1231.67 = $2463.33
Total cost of loan = $25.97 × 104= $2700.88
Interest charged = total amount ? loan
I = A ? P
= 2700.88 ? 2463.33
= 237.55
R = (100 x I)/( P x T)
Total cost = deposit + loan + interest
= 1231.67 + 2463.33 + 237.55
= $3932.55
Exact interest, I= prt = $8000 × 0.085 × 90/365 = 167.67
Ordinary Interest, I= Prt = $8000 x 0.085 x 90/360 = 170
I=prt
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