2. Rachel has a $10,000, three-year loan with an APR of 5.25%.
a. What is the monthly payment?
b. How many monthly payments did she make?
c. What is the sum of the monthly payments?
d. How much was paid in interest?

Answers

Answer 1

Using simple interest, it is found that

a) The monthly payment was of $321.53.

b) 36 monthly payments were made.

c) The sum of the monthly payments is of $11,575.

d) $1,575 was paid in interest.

The amount of simple interest accrued after t years is modeled by:

[tex]A(t) = P(1 + rt)[/tex]

In which:

P is the principal, which is the initial deposit.r is the interest rate, as a decimal.

In this problem:

Loan of $10,000, hence [tex]P = 10000[/tex].APR of 5.25%, hence [tex]r = 0.0525[/tex]3 years, hence [tex]t = 3[/tex]

Item c:

The sum is A(3), hence:

[tex]A(t) = P(1 + rt)[/tex]

[tex]A(3) = 10000[1 + 0.0525(3)][/tex]

[tex]A(3) = 11575 [/tex]

The sum of the monthly payments is of $11,575.

Item d:

Interest is amount subtracted by principal, hence:

[tex]I = A(3) - P = 11575 - 10000 = 1575[/tex]

$1,575 was paid in interest.

Item b:

3 years, hence 3 x 12 = 36 monthly payments were made.

Item a:

[tex]\frac{11575}{3} = 321.53[/tex]

The monthly payment was of $321.53.

A similar problem is given at https://brainly.com/question/13176347

Answer 2

a. The monthly payment is $285.34.

b. The number of monthly payments made by Rachel is 36.

c. The sum of the monthly payments is $10,272.24.

d. The total amount paid in interest is $272.24.

What is the monthly payment?

The monthly payment is the periodic payment that a borrower (the debtor) makes to settle their liability to the lender (the creditor).

The monthly payment can be determined using an online finance calculator as follows:

Data and Calculations:

N (# of periods) = 36 months (3 x 12)

I/Y (Interest per year) = 5.25%

PV (Present Value) = $10,000

FV (Future Value) = $0

Results:

PMT = $285.34

Sum of all periodic payments = $10,272.24 ($285.34 x 36)

Total Interest = $272.24 ($10,272.24 - $10,000)

Thus, while the monthly payment is $285.34 for 36 months, the sum of all periodic payments totals $10,272.24, resulting in a total interest of $272.24.

Learn more about monthly payments at https://brainly.com/question/24576997


Related Questions

Find the equation of a parabola in vertex form with given vertex and point.
Vertex (0,1) and passing through (-1,0)

Answers

keeping in mind that we could have a horizontally opening parabola or a vertically opening one using those values, let's use the vertical parabola type for the equation

[tex]~~~~~~\textit{vertical parabola vertex form} \\\\ y=a(x- h)^2+ k\qquad \begin{cases} \stackrel{vertex}{(0,1)}\\\\ \stackrel{"a"~is~negative}{o pens~\cap}\qquad \stackrel{"a"~is~positive}{o pens~\cup} \end{cases} \\\\[-0.35em] ~\dotfill[/tex]

[tex]y=a(x-0)^2+1\implies y=ax^2+1\qquad \textit{we also know that when} \begin{cases} x = -1\\ y = 0 \end{cases} \\\\\\ 0 = a(-1)^2+1\implies 0=a+1\implies \boxed{-1=a} \\\\[-0.35em] ~\dotfill\\\\ ~\hfill y=-x^2+1\implies \stackrel{\textit{vertex form}}{y = -(x-0)^2+1}~\hfill[/tex]

Pls answer my questions on this pic here
(must include the math work)
i will give brainlist for the most helpful answer

Answers

Answer:

252, 1 1/4, 308, 1 1/2

Step-by-step explanation:

5. The kitchen is 2 1/4 in by 1 3/4 in. 2 1/4in = 9/4in = 18ft. 1 3/4in = 7/4in = 14ft.

So we have 18ft by 14ft. The area is one side multiplied by the other side:

18 × 14 = 252ft^2.

6. 10/2 = 5. 5/4 in = 1 1/4in.

7. Bedroom 2 is 1 3/4in by 2 3/4in. 1 3/4in = 7/4in = 14ft. 2 3/4in = 11/4in = 22ft.

14ft × 22ft = 308ft^2 of carpet.

8. 12ft/2 = 6. 6/4 = 1 2/4 = 1 1/2 in.

Hope that helps!

>> Answer

__________

[tex] \: [/tex]

Answer in the picture.

Solve the following inequality

Answers

I think it’s the last one x <= -4

Estimate 1299+13,522 +6424 by first rounding each number to the nearest thousand.

Answers

Answer:

1299+13522+6424=21245

round off to the nearest thousand

21,245

the nearest thousand is 1,000

the number beside it is 200

according to the rule to round off it has to be above 5 it is not

so drop off the 2 and add zero to the end

now your answer is 21,000

Step-by-step explanation:

hope this helps good luck!

Answer:

Step-by-step explanation:

1299 + 13522 + 6424 = 1000 + 14000 + 6000

                                   = 21000

1299 ---> hundred place is 2 < 5. So, 1000

13522 ----> Hundreds place is 5 ≥5. so, add one to the thousands place.

                 Which is 14000

Explain how to determine whether the difference of two numbers is less than or greater than the first number.

Answers

Answer:

To determine if the difference of two numbers is less or greater than the first number, check the value of the first number, and the value of the second number.

(greater) - (lesser) = (positive)

(lesser) - (greater) = (negative)

(neg lesser) - (neg greater) = (positive)

(neg greater) - (neg lesser) = (negative)

For Example:

10 - 5 = 5

5 - 10 = -5

(-5) - (-10) = 5

(-10) - (-5) = -5

Please correct me if I’m wrong, I may have misunderstood the question.


You randomly select one card from a 52-card deck. Find the probability of selecting a black four or a black five.

Answers

Answer:

1/13 or 7.69%

Step-by-step explanation:

Note that there are 2 suits that are black (clubs and spades). You are also trying to draw a black four or a black five, meaning that it gives you only:

1) Four of clubs

2) Four of spades

3) Five of clubs

4) Five of spades

Your probability of drawing is part/whole, or 4/52

Simplify:

(4/52)/(4/4) = 1/13

Your probability is 1/13, or a 7.69% chance of selecting the targeted card.

Compare your response to the sample response above. What did you include in your explanation?
a reference to the horizontal-line test

a statement that the function is one-to-one
the conclusion that the inverse is a function

Answers

Answer:

mention the square root property?

Step-by-step explanation:

Statistics help needed.​

Answers

Where's your question?

left. \begin{array} { l } { z \geq 18250 s } \\ { \text { T

Answers

kya karna hai isme

what we have to do in this

Question 3 (Mandatory) (10 points)
Simplify

(2/3a - 5) - (1/3a + 3)


*Please show your work so I can’t understand better thank you*

Answers

Answer:

1/3a - 8

Step-by-step explanation:

Distribute negative sign:

2/3a - 5 + -1 (1/3a + 3)

2/3a + -5 + -1 (1/3a) + (-1)(3)

2/3a + -5 + -1/3a + -3

Combine like terms:

2/3a + -5 + -1/3a + -3

(2/3a + -1/3a) + (-5 + -3)

= 1/3a - 8

10 +4m when m = -2
i really need help on this lol

Answers

10 + (4 x -2)
=2
10 + -8 = 2

Use the digits nine, six and three one time each in the following Multi digit division problem then rewrite the problem

Answers

3600 / 90 = 40

use in this order: 3, 6, 9

The number in the problem whose result is 40, will be 3,600 and 90.

What is Algebra?

The analysis of mathematical representations is algebra, and the handling of those symbols is logic.

Division means the separation of something into different parts, sharing of something among different people, places, etc.

Use the digits nine, six, and three one time each in the following Multi-digit division problem then rewrite the problem.

Then the problem whose result is 40 will be given as the division of 3600 by 90.

3,600 / 90 = 40

The number in the problem whose result is 40, will be 3,600 and 90.

More about the Algebra link is given below.

https://brainly.com/question/953809

#SPJ2

What is your walking rate in steps per minute?

Answers

Answer:

100 steps per minute

Step-by-step explanation:

Answer:100 steps per minute

Step-by-step explanation:

For the function: f(x) = 3x^2– 4x – 8, find and simplify

A. f(x) - f(a) divided by x-a

b.f(x +h) - f(x) all divided by H

Answers

Answer:

Step-by-step explanation:

A)  (f(x) - f(a)) / (x - a)

(3x²– 4x – 8 - (3a² – 4a – 8)) / (x - a)

(3x²– 4x – 8 - 3a² + 4a + 8) / (x - a)

(3(x² - a²) – 4(x - a)) / (x - a)

(3(x - a)(x + a) – 4(x - a)) / (x - a)

3(x + a) - 4

B)  (f(x + h) - f(x)) / h

(3(x + h)² -  4(x + h) - 8 - (3x² - 4x - 8)) / h

(3(x² + 2xh + h²) -  4x - 4h - 8 - 3x² + 4x + 8) / h

(3x² + 6xh + 3h² -  4x - 4h - 8 - 3x² + 4x + 8) / h

(3x² + 6xh + 3h²         - 4h - 8 - 3x²         + 8) / h

(3x² + 6xh + 3h²         - 4h       - 3x²              ) / h

(          6xh + 3h²         - 4h                            ) / h

(6xh + 3h² - 4h) / h

6x + 3h - 4

Describe a way to obtain the same image without using rotations. (Can’t use stuff like 180°)

Answers

Answer:

Step-by-step explanation:

Reflection over x-axis then reflection over y-axis

The measure of an exterior angle of a triangle is zº. The measure of the adjacent interior angle is at least twice 2". Which of these is NOT a possible
solution for 2?


please help me .

Answers

Answer:

The best of me and said that you

write and equation on the line that passed through (0,-1) and is perpendicular to the line y =1/9x+2

Answers

Answer:

y=-9x-1

Step-by-step explanation:

since it is perpendicular, the slope must be the opposite reciprocal (-9x) and now we plug the coordinates in, -1=0+b, b is -1

Answer:

y=-9x-1

Step-by-step explanation:

The retail price of a television set is $4500. If the buyer pays cash, the price is 10% below the retail price. If the set is bought on hire purchase, the buyer pays a down payment of $675 and 24 monthly instalments of $212.50. Determine the cash price.​

Answers

A.4500 × 10% = 450.
675 +212,5×24 = 5775.
5775 - 4050= 1725

4500-450=4050
B. 1725/4500=x10%=38.3%
5775- 4500 = 1275
1275/4.500= ×/10% = 28.38

4050 is the  cash price of the  television set whose retail price is $4500

What is Percentage?

percentage, a relative value indicating hundredth parts of any quantity.

Given that the retail price of a television set is $4500

If the buyer pays cash, the price is 10% below the retail price

If the set is bought on hire purchase, the buyer pays a down payment of $675 and 24 monthly instalments of $212.50

we need to find the  cash price.​

We need to find the 10% of 4500:

Convert 10% to decimal form

10/100=0.1

Now multiply 0.1 with 4500

0.1×4500=450

Substract the 10% to the retail price:

4500-450=4050

Hence, 4050 is the  cash price of the  television set whose retail price is $4500

To learn more on Percentage click:

https://brainly.com/question/28269290

#SPJ2

Help help help please please

Answers

◊  Hello there! ◊

◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦

7x+4/3<6

Get rid of the denominator first by multiplying both sides by 3:

7x+4<18

Now, move all the  numbers to the right, using the opposite operation:

7x<18-4

7x<14

Divide both sides by 7:

x<2

Therefore, x<2 ✔︎

Hope this helps!

~Just a felicitous gal

#HaveANiceDay

[tex]SilentNature \\;)[/tex]

Which complex number is equivalent to the given expression?
(-45-22i)+2(5-3i)(5+3i)
A. -30-25i
B. -11+22i
C. -13+38i
D. 23-22i

Answers

Answer: Choice D.  23-22i

Work Shown:

(-45-22i)+2(5-3i)(5+3i)

(-45-22i)+2(5^2-(3i)^2)

(-45-22i)+2(25-9i^2)

(-45-22i)+2(25-9(-1))

(-45-22i)+2(25+9)

(-45-22i)+2(34)

-45-22i+68

(-45+68)-22i

23-22i

In the second step, I used the difference of squares rule. Keep in mind that i^2 = -1 since i = sqrt(-1).

What is the square root of 121?

Answers

Answer:

11

Step-by-step explanation:

A square root is any number that is multiplies by itself to get a number.

11*11=121

Hope this helps! Plz give brainiest!

Please help asap I’ll give you 20 points

Answers

Answer:

first one is left second one is right

Answer:

What is that on?

it is blury

Madison’s dad use a hose to fill an infltable pool in the back yard

Answers

He has 1 pool to fill up then

Given the graph of two linear equations, describe how to determine the solution.
How could the solution be verified?

(That’s how the question looks like And I WILL give brainliest to whoever is correct)

Answers

Answer:

The solution is the point of intersection of the lines on the graph. Then, substitute the x and y values into both equations to see if they produce two true statements.

Step-by-step explanation:

I got it right Edge 2021. Use "Wordtune Editor" and click "Rewrite" so it's not plagerism.

Answer:

Sample Response: The solution is the point of intersection between the lines on the graph. Identify this point and substitute the x and y values into both equations to see whether they produce two true statements.Step-by-step explanation:

How much money will you have in the bank if you put in $4000 at 3% interest for 4 years?

Answers

At the end of 4 years, your savings will have grown to $4,502.

You will have earned in $502 in interest.

Answer: $480
You’re welcome

1. A local charity is collecting food for the winter. They have asked 150
families to donate 5 cans of food. If 80% of the families donate 5 cans of
food, how many cans should the charity collect? *

Answers

The charity should collect 600 cans of food

Number of families that the charity asked to donate food = 150

80% of the families donated 5 cans of food

Number of families that actually donated 5 cans of food = (80/100) x 150

Number of families that actually donated 5 cans of food = 0.8 x 150

Number of families that actually donated 5 cans of food  = 120

Number of cans donated by each family = 5

Number of cans donated by 120 families = 5 x 120

Number of cans donated by 120 families = 600

The charity should collect 600 cans of food

Learn more here: https://brainly.com/question/25458888

When I am trying to find the whole of the percent and divide it what do I do with the remainder? Like do I put it together with the answer and go on or multiply them together ?

The problem I’m solving is [What number is 70% of 279]

And I divided them too and I got 39 and 3 reminder. Please scallion and help me with this problem in order to get marked

Answers

Answer:

a. 9.48

b. 195.3

Step-by-step explanation:

convert the corresponding per cent into a decimal (you can move the decimal place to the left by 2 or divide by 100) then just multiply it with the "of" number

please hurry thank you so much

Answers

Answer:

%4, 67 ,-09

Step-by-step explanation:

The Vinaya Pitaka is a sacred text of

Please help correct answer gets brainliest​

Answers

Answer:

If he will get a simple interest of 40 dollars in 4 years, (if he doesn't spend anything) the answer for annual rate is 10 dollars.

Explanation: Divide 40 by 4=10

Annual means a year.

Just divide the amount of money by the amount of years. And bingo!

PLEASE HELP!? Not that hard.

How many solutions does the system have?

20x−5y=5
4x−y=1

Answers

y = 4x - 1

// Plug this in for variable y in equation [1]

[1] 20x - 5•(4x-1) = 5
[1] 0 = 0 => Infinitely many solutions
Infinite solutions…you can plug both into desmos graphing calculator and check
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