Bob has taken out a loan of $15,000 for a term of 48 months (4 years) at an interest rate of 6.5%. Using the amortization table provided, what will be his total finance charge over the course of his loan?

Monthly Payment per $1,000 of Principal
Rate 1 Year 2 Years 3 Years 4 Years 5 Years
6.5% $86.30 $44.55 $30.65 $23.71 $19.57
7.0% $86.53 $44.77 $30.88 $23.95 $19.80
7.5% $86.76 $45.00 $31.11 $24.18 $20.04
8.0% $86.99 $45.23 $31.34 $24.41 $20.28
8.5% $87.22 $45.46 $24.65 $24.65 $20.52
9.0% $87.45 $45.68 $31.80 $24.89 $20.76
A.
$355.65
B.
$975.00
C.
$1,682.40
D.
$2,071.20
E.
$17,071.20

Answers

Answer 1

The total finance charge over the course of his loan is $2071.20.

It is required to find the total finance charge.

What is simple & compound interest?

Simple Interest can be defined as the sum paid back for using the borrowed money, over a fixed period of time. Compound Interest can be defined as when the sum principal amount exceeds the due date for payment along with the rate of interest, for a period of time. Formula. S.I. = (P × T × R) ⁄ 100.

Given that:

Loan= $15,000

The table tells you that Bob's monthly payment on a 4-year loan at 6.5% will be 23.71 per thousand borrowed.

The sum of those 48 payments is ...

=48 × $23.71 =

 =$1138.08

That means, Bob pays $138.08 in total finance charge for each $1000 he borrows. He is borrowing 15 times $1000.

so his total finance charge will be

= 15 × $138.08

= $2071.20

Therefore, the total finance charge over the course of his loan is $2071.20.

Learn more about simple & compound interest here:

https://brainly.com/question/16666364

#SPJ5

Answer 2

Answer:

D.

$2,071.20

Step-by-step explanation:


Related Questions

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8.7 m and the height of the pyramid is 10 m. Round your answer to the nearest
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Answers

Answer: 29.0

Step-by-step explanation:

The volume of a pyramid is equal to l*w*h/ 3  and we know that the length times the width is the same as the base.

so we will multiply 8.7 * 10= 87 /3=  29

Volume = 87 m³

You need to multiply the area and the height to find the volume. If you have the length, width, and height, then you need to multiply and 3 and divide it by 3. Hope I helped :)

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Answer:

The answer would be {y|y>0}

Step-by-step explanation:

hope this helps

HELPP MEE FASTT I HAVE LESS THAN 10 MIN

Farrah borrowed $155 from her brother. She has already paid back $15. She plans to pay back $35 each month until the debt is paid off.

Which describes the number of months it will take to pay off the debt? Select three options.
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Answers

Answer:

35x + 15 = 155

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Hope this helps. Mark brainliest please!

Answer:

35x + 15 = 155

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Step-by-step explanation:

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Solve the following system of equations {4x−6y=105x+6y=−55

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Answer:

31557778998765432

Step-by-step explanation:

is it impossible

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Answer:

5.3

Step-by-step explanation:

Answer:

The answer is 5.3

Step-by-step explanation:

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how do you write 2x - 2y = 8 in slope-intercept form ?

Answers

Answer:

y=x-4

Step-by-step explanation:

The general scaffold for the slope intercept form is y=mx+b, where m is the slope and b is the y intercept. You can rearrange the equation that you are given like this:

2x-2y=8

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Hope this helps!

Answer:

Rearrange the equation so that it is written in slope intercept form:

y=mx+b.

2x+2y=8.

2y=−2x+8.

y=−x+4.

Dave wants to sketch a scale drawing of the porch. Choose a reasonable scale and make a scale drawing of the porch. Label the demensions of the model

Answers

Step-by-step explanation:

I think your question is missed of key information, allow me to add in and hope it will fit the original one.  

Please have a look at the attached photo.  

My answer:

Given the information:

20 feet long 6 feet width

A reasonable scale and make a scale drawing of the porch could be :

1 inch =4 feet

<=> the length side: 20:4 = 5 inches

<=> the width side: 6:4 = 1.5 inches

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The frame of the given window is made
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Find its perimeter and area.
2.1 m
1.4 m​

Answers

Answer:

3.7096902=area

Step-by-step explanation:

2.1x1.4=2.94m^2

2.94+(.5pi(.7^2))

out of 17,21,14,17,12,15,16 what is the mean?

Answers

Answer:

mean  is 16

Step-by-step explanation:

to find the mean of the data set u add up all the numbers and then u see how many number there are in total and u divided the solution of the sum and divided it by the total number of numbers.

17+21+14+17+12+15+16 = 112

then u see how many number there are and there are 7

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what is m equal to.
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Answers

Answer:

m = 17

Step-by-step explanation:

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Find the area of the shaded regions:
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Answers

40π

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Answer:40

Step-by-step explanation:

Carlos bought 80 feet of wire for ​$17.60. He needs 30 more feet. If the unit price is the​ same, how much will he pay for the extra 30 feet of wire​?

Answers

Answer:

Carlos bought 80 feet of wire for ​$17.60.

Then the price for 1 feet of wire is 17.6/80 = 0.22

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evaluate the expression -3 times 0.4 to the power of 2 + -1.1 to the power of 3?

Answers

Answer:

idk i have the same question

Step-by-step explanation:

A survey in one middle school showed that 3 out of 5 students enjoy biking on the weekends. Predict how many out of the 972 students in the school would say they enjoy biking on the weekends.

Answers

583.2 students will enjoy the day! You have to cross multiply so the 3x972=5xE which then equals 2916=5E which equals the answer

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Answers

Answer:

28cm^2

Step-by-step explanation:

The area of a trapezoid is the bases added divided by two times the height.

(9+5)/2*4=7*4=28

28cm^2

A rectangular prism has a length of 12in, a height of 5in, and a width of 8in. What is its volume, in cubic in?

Answers

Answer: The volume is 480 in^3

Step-by-step explanation:

v= lwh

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Answer:

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Step-by-step explanation:

Formula for the volume of a rectangular prism= Ah, where A= base area

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Pls mark as brainliest

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Answers

Answer:

[tex]6x + 42[/tex]

Step-by-step explanation:

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[tex]6x + 6 \times 7[/tex]

Multiply 6 by 7

[tex]6x + 42[/tex]

hi!! <3 i attached a picture of a easy trigonometry question can you please help if you don’t mind <33

Answers

Answer:

Side AB has a length of 4, and side BC has a length of 11.7

Evaluate the expression 3 x
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Answers

Answer:

38

Step-by-step explanation:

3 x {10 +1} +5.

PEMDAS

Parentheses first

3 x {11} +5.

Then multiply and divide

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38

Answer:

38

Step-by-step explanation:

3 x {10 +1} +5             Following PEMDAS, solve in the parentheses

3 x 11 + 5                   Multiply 3 x 11

33 + 5                       Add

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If a right triangle is rotated around one of its legs for 360 degrees, what three dimensional shape is produced?

Answers

Answer:

The shape of a cone

Step-by-step explanation:

If we rotate the right triangle for 360 degrees around one leg, we will have a shape of a cone (a conical shape).

the leg we choose to rotate around will be the height of the cone.

The other leg will be the radius of the cone's base.

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Which of the following options have the same value as %25, percent of 64? Choose 2 answers:
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Answers

Answer:

B and C

Step-by-step explanation:

25% of 64 is 16. So find the two answers that are equivalent to 16.

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B: [tex]\frac{25}{100}[/tex]*64 = 16

C: 0.25 * 64 = 16

D: 64/[tex]\frac{25}{100}[/tex] =256 [tex]\neq[/tex] 16

E: 25/[tex]\frac{64}{100}[/tex] = 39.06 [tex]\neq[/tex] 16

Answer:

its b and c. had the same problem.

I need help with these plzzz

Answers

Answer:

1. C 2. B

Step-by-step explanation:

1. find the total circumference, d times pi, then put 42 over 360 and multiply them to get that section

2. The actual value of x is 33.2

So I plugged in that value for all of them

The Answer is 1.c 2.b

Please help!!!! AWARDING BRAINLIEST!!

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It’s a right triangle

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Geometric progression, first term 5, common ratio 3.

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The length of an arc of a circle is 9.42cm. If the diameter of the circle is 10cm, find the angle subtended by the arc at the center of the circle. (Take π = 3.142)
SHOW ALL WORKING.

Answers

Answer:

1.89 radians  or 108 degrees.

Step-by-step explanation:

Circumference of the circle = 10 * 3.142

= 31.42.

So 31.42 is equivalent to 2 pi radians, so:

Angle subtended at the center

= (9.42 / 31.42) * 2 pi

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Thank you so very much for helping

Answers

Answer:

Angle 2

Step-by-step explanation:

They are 90 degrees when added together

Answer:

<2

Step-by-step explanation:

Complementary angles add to 90 degrees ( form right angles)

<1 and <2 add to 90 degrees so they are complementary angles

Consider circle Y with radius 3 m and central angle XYZ measuring 70°.

Circle Y is shown. Line segments Y Z and Y X are radii with lengths of 3 meters. Angle Z Y X is 70 degrees.

What is the approximate length of minor arc XZ? Round to the nearest tenth of a meter.

1.8 meters
3.7 meters
15.2 meters
18.8 meters

Answers

Answer:

3.7

Step-by-step explanation:

The lenght of an arc with a radius of 3m and substended angle of 70 degrees is 3.7meters

How to calculate the length of an arc

The length of an arc is expressed as:

L = r theta

Given the following parameters

r = 3m

theta = 70 degrees = 70π/180

L = 3(70π/180)

L = 3.7 metres

Hence the lenght of an arc is 3.7meters

Learn more on length of an arc here: https://brainly.com/question/2005046

What term must we add to complete the square on x^2 + 12x


Answers

Answer:

Step-by-step explanation:

You need to first find what x equals before you can solve the equation.

Answer:

36

Step-by-step explanation:

x^2+2xy+y^2

12x/2x=6=y

y^2=36

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Answers

Answer:

Traci could say draw 2 long parellel sides one on top of another. Then draw 2 smaller sides to connect the long sides.

Step-by-step explanation:

Sorin hits a cricket ball straight up into the air. After 1.5s, the ball is falling straight down with a speed of 6.5 m/s. We want to find the initial vertical velocity of the ball. We can ignore air resistance. Which kinematic formula would be most useful to solve for the target unknown?

Answers

Step-by-step explanation:

We have, Sorin hits a cricket ball straight up into the air. After 1.5 s, the ball is falling straight down with a speed of 6.5 m/s.

We want to find the initial vertical velocity of the ball.

The relation between initial speed, final speed, acceleration and time is given by using first equation of kinematics. Let v₀ is the initial speed. So,

[tex]v=v_o +at[/tex]

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So, the initial velocity of the ball is 8.2 m/s and the formula used is (1).

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