Hilda is taking out an $11,000 personal loan that she will repay in 5 years. If she receives a 10% interest rate, her monthly payments will be $233.72. If she receives and 18% interest rate her monthly payments will be $279.33. How much less interest will Hilda pay if she qualifies for the lower interest rate? *

Answers

Answer 1

Answer:

Hilda would pay $ 2,736.60   less interest

Step-by-step explanation:

The total interest payment is the total repayments for 5 years less the initial loan amount

If the interest rate is 10% Hilda repays $233.72  for 5 years multiplied by 12 months:

total repayment=$233.72*5*12=$ 14,023.20  

Interest =$14,023.20-$11,000.00=$3.023.20

If the interest rate is 18% Hilda repays $279.33 for 5 years multiplied by 12 months:

total repayment=$279.33*5*12=$ 16,759.80  

Interest =$16,759.80  -$11,000.00=$5759.8

Difference in interest payments=$5759.8 0-3.023.20=$ 2,736.60  


Related Questions

Suppose 30% of a population possess a given characteristic. If a random sample of size 1200 is drawn from the population, then the probability that less than 348 possess that characteristic is

Answers

Answer:

The probability that less than 348 possess that characteristic is 0.2148 = 21.48%.

Step-by-step explanation:

I am going to use the binomial approximation to the normal to solve this question.

Binomial probability distribution

Probability of exactly x sucesses on n repeated trials, with p probability.

Can be approximated to a normal distribution, using the expected value and the standard deviation.

The expected value of the binomial distribution is:

[tex]E(X) = np[/tex]

The standard deviation of the binomial distribution is:

[tex]\sqrt{V(X)} = \sqrt{np(1-p)}[/tex]

Normal probability distribution

Problems of normally distributed samples can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the zscore of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

When we are approximating a binomial distribution to a normal one, we have that [tex]\mu = E(X)[/tex], [tex]\sigma = \sqrt{V(X)}[/tex].

In this question, we have that:

[tex]n = 1200, p = 0.3[/tex]

So

[tex]\mu = E(X) = np = 1200*0.3 = 360[/tex]

[tex]\sigma = \sqrt{V(X)} = \sqrt{np(1-p)} = \sqrt{1200*0.3*0.7} = 15.8745[/tex]

The probability that less than 348 possess that characteristic is

Using continuity correction, this is P(X < 348 - 0.5) = P(X < 347.5), which is the pvalue of Z when X = 347.5. So

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{347.5 - 360}{15.8745}[/tex]

[tex]Z = -0.79[/tex]

[tex]Z = -0.79[/tex] has a pvalue of 0.2148.

The probability that less than 348 possess that characteristic is 0.2148 = 21.48%.

The population follows a normal distribution.

The probability that less than 348 possess that characteristic is 0.2248

The given parameters are:

[tex]\mathbf{n = 1200}[/tex]

[tex]\mathbf{p = 30\%}[/tex]

Start by calculating the mean:

[tex]\mathbf{\mu =np}[/tex]

[tex]\mathbf{\mu =1200 \times 30\%}[/tex]

[tex]\mathbf{\mu =360}[/tex]

Calculate the standard deviation

[tex]\mathbf{\sigma = \sqrt{np(1 - p)}}[/tex]

[tex]\mathbf{\sigma = \sqrt{360(1 - 30\%)}}[/tex]

[tex]\mathbf{\sigma = \sqrt{252}}[/tex]

[tex]\mathbf{\sigma = 15.87}[/tex]

Calculate the z-score

[tex]\mathbf{z = \frac{x - \mu}{\sigma}}[/tex]

Where:

x = 348

So, we have:

[tex]\mathbf{z = \frac{348 - 360}{15.87}}[/tex]

[tex]\mathbf{z = -\frac{12}{15.87}}[/tex]

[tex]\mathbf{z = -0.7561}[/tex]

So, the probability is represented as:

[tex]\mathbf{P(x < 348) = P(z < -0.7561)}[/tex]

From the z-table of probabilities, we have:

[tex]\mathbf{P(x < 348) = 0.2248}[/tex]

Hence, the probability that less than 348 possess that characteristic is 0.2248

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A theater wants to build movable steps that they can use to go on and off the stage. They want the steps to have enough space inside so they can also be used to store props.

Answers

Answer:no the answer is 0.045 m3

0, point, 045, start text, space, m, end text, cubed

Step-by-step explanation:

help me pls i dont know what to do

Answers

The answer is the last one: k = 5

Hope I helped and good luck!

The boxes below are two similar solids. Find the value of the missing dimensions and support your answer. YOU MUST SELECT 2 ANSWERS
A) b=9
B) b=18
C) h=9
D) h=18

Answers

Answer:

b is 9 and h is 18

Step-by-step explanation:

because its times 1.5 for each one so like 5 times 1.5 is 7.5 so we can see that it is times by 1.5

Answer:

A) b = 9

D) h = 18

Step-by-step explanation:

b/6 = 7.5/5 = h/12

b/6 = 1.5

b = 9

1.5 = h/12

h = 18

3. You want to standardize a new recipe for Chicken Alfredo. The old recipe that you have been using yields 40 servings and you would like the new yield to be 150 servings. What is the conversion factor? Use the conversion factor to determine how much chicken is needed, if the old recipe called for 8 pounds. Show your work

Answers

If the original receipe requires 8 pounds and yields 40 serving, and we need to up it to 150:

40/150=8/x

Cross multiply:

40x=150x8

40x= 1200

X= 30 pounds of chicken

Which is the same as diving a number by 10?

Answers

Answer:

Step-by-step explanation:

well i guess if the decimal is on the left you would move it to the right twice

because if you only moved it once it'd become 1.0

and if you moved it to the left once it would also become 1.0

and if you moved it twice to the left you would be left with .10

pls mark me brainliest

Solve the equation.

29= p x 20

p= __

Answers

Answer:

1.45

Step-by-step explanation:

1. divide both sides of the equation by 20 to get rid of the 2o on the right side

[tex]\frac{29}{20}[/tex]= p x [tex]\frac{20}{20}[/tex]

now u end up with 1.45=p

hope it helped

Jenna wants to wrap a shipping box shaped like a rectangular prism. The box is 29 inches tall and has a square base with sides that each measure 5 inches. How much paper will she​ use?

Answers

Answer:

she will use 420 inches of paper with 69 left over

Step-by-step explanation:

It is what it is

Answer:

She would use 330 inches of paper

Natalie has $250 in savings. At the end of 6 months, she has $450 in savings. What is the percent increase in the amount of her savings?

Answers

80 percent. 80 percent of 250 is 200 and 250 increased by a total of 200 therefore 80%

Answer: 80%

Step-by-step explanation:

Rule of 3.

Let's put the money on the left side and the percents on the right side.

[tex]\frac{250}{450}=\frac{100}{x}[/tex]

Solve for x:

[tex]x=\frac{450*100}{250}[/tex]

[tex]x=180[/tex]

Subtract 100 from 180

180-100=80

What is the degree of
6x^5 – 4x^2 + 2x^2 - 3 + x?
A. 3
B. 5
C. 6
D.2

Answers

Hello!

Answer:

[tex]\boxed{ \bf The~degree~of~the~polynomial~is~B.~5}[/tex]

___________________________________________

Explanation:

The term with the greatest exponent determines the degree of the polynomial.

Let's list all the terms:

[tex]6x^{5}[/tex]-4x²2x²-3x

Out of all of these terms, the first one has the greatest exponent (5).

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

6-129. Nick represented the equation 3(2x+4)=-6 on the Equation Mat below. Choose a strategy to solve for x. You may continue to use algebra tiles, or you may use symbols on paper.

Answers

Answer:

x = -3

Step-by-step explanation:

You have the following equation:

[tex]3(2x+4)=-6\\[/tex]

you first you distribution property in order to eliminate the parenthesis:

[tex]3*2x+3*4=-6\\\\6x+12=-6[/tex]

next, you subtract 12 in both sides of the equation:

[tex]6x+12-12=-6-12\\\\6x=-18[/tex]

Finally, you divide the equation by 6 and simplify:

[tex]\frac{6x}{6}=-\frac{18}{6}\\\\x=-3[/tex]

hence, the solution to the equation is x = -3

What is the correlation coefficient for the data shown in the table? A1 B -1 C5 D10

Answers

Answer:

What do you mean i need an explaination

Step-by-step explanation:

Answer:

You need to show the table

Step-by-step explanation:

We can't answer without that info

Is a percent increase for 50 to 70 = to the percent decrease from 70 to50

Answers

Answer:

no it is not.

Step-by-step explanation:

%increase = 40% while %loss = about 28.6%

It is not because of it’d the precent

A baker has 88 muffins. He fills large boxes that hold 9 muffins each.Then, he puts the leftover muffins in a small box. How many muffins are in the small box.

Answers

Answer:

7

Step-by-step explanation:

A cylinder has a base radius of 4m and a height of 6m. What is its volume in cubic m,
to the nearest tenths place?​

Answers

Answer:

301.4

Step-by-step explanation:

Volume of a cylinder=pi*[tex]r^{2}[/tex]*h.  Assuming you want 3.14 for pi, we can substitue the 4m for r, 6 for h and 3.14 for pi.

V=3.14*[tex]4^{2}[/tex]*6

V=301.44

Since you want to round to nearest tenths, the answer is 301.4

The volume of the cylinder with the given value of radius and height to the nearest tenth place is 301.4 cubic meters.

What is a cylinder?

A cylinder is simply a 3-dimensional shape having two parallel circular bases joined by a curved surface.

The volume of a cylinder is expressed as;

V = π × r² × h

Where r is radius of the circular base, h is height and π is constant pi ( π = 3.14 )

Given the data in the question;

Radius r = 4mHeight h = 6mVolume of the cylinder V = ?

We substitute our values into the expression above.

V = π × r² × h

V = 3.14 × (4m)² × 6m

V = 3.14 × 16m² × 6m

V = 301.4m³

The volume of the cylinder with the given value of radius and height to the nearest tenth place is 301.4 cubic meters.

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Find the area

Please help me thank you!

Answers

Answer:

area = 12

Step-by-step explanation:

Someone please help me!!!

Answers

Answer: Answer is B

Step-by-step explanation:

Remeber that the shorter a container is doesn't mean it has less mass or volume. the width can mean it holds more. If the radius is twice as big that can mean the contents is more and your getting a better deal.   hOpe this will help.

probability spinning a 6 and flipping tails

Answers

Answer:

Probability of spinning a six, and I'm guessing on a spinner with six numbers would be 1 and 6, 1:6, or 1/6. Flipping tails would be 1 and 2, 1:2, or 1/2

Step-by-step explanation:

the y intercept of G(x) in G(x) = 3x -2 is

Answers

Answer:

-2

Step-by-step explanation:

G(x) = 3x -2

Let x = 0 to find the y intercept

G(0) = 3(0)-2

       =-2

The frame of the given window is made
of a rectangle with semi-circular top.
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))

An angle measures 39.2° less than the measure of its complementary angle. What is the measure of each angle?

Answers

Answer: The measures of the angles are 64.6 degrees and 25.4 degrees.

Step-by-step explanation:

Complementary angles add up to 90 degrees.

x can be one angle, and (x-39.2) can be the other

x + (x-39.2) = 90

2x - 39.2 = 90

add 39.2 to both sides

2x = 129.2

divide each side by 2

x = 64.6

find the measure of the other angle

64.6-39.2 = 25.4

The measures of the angles are 64.6 degrees and 25.4 degrees.

Answer:

25.4 and 64.6

Step-by-step explanation:

Suppose two complementary angles of measures x And y then

x + y = 90 and y = x - 39.2

if we plug in  x - 39.2 instead of y in the equation x + y = 90 we get :

x + (x - 39.2) = 90

then

2x = 90 + 39.2

then

2x = 129.2

then

x = 129.2/2 = 64.6

therefore

y = 64.6 - 39.2

  = 25.4

______________________________

:)

Two children are playing a code-breaking game. One child makes a sequence of three colors from red, yellow, blue, and purple. The other child must guess the sequence of colors in the correct order. Once one color is used, it cannot be repeated in the sequence.

What is the probability that the sequence is guessed on the first try?

StartFraction 1 Over 24 EndFraction
One-eighth
One-fourth
One-third

Answers

Answer:

1/24

Step-by-step explanation:

i just took it

The probability that the sequence is guessed on the first try is 1/24.

Probability

Total colors available for making code=4

Colors required for making code=3

Hence:

Total ways of making code=4p3=4!/(4-3)!

=4×3×2×1/1

=24

Probability that the sequence is guessed on the first try=1/Total ways of making code

Probability that the sequence is guessed on the first try=1/24

Therefore the correct option is A.

Learn more about probability here:https://brainly.com/question/24756209

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How does the graph change between point A and point C?
D
The graph increases, then decreases.
The graph decreases, then remains constant
The graph decreases, then increases.
The graph increases, then remains constant

Answers

Answer:

d

Step-by-step explanation:

Answer:

D

Step-by-step explanation:

Got 100% on a quiz

Please help, it would be greatly appreciated!

Answers

Answer:

A

Step-by-step explanation:

6 times 9 times 3 = 162

Which student wrote an equation with a solution of x = -8
Jenna: -3 ( x - 9 ) = -3
Archer: 4 ( 2x - 16 ) = 16

both
neither
jenna
archer

Answers

Answer:

Neither

Step-by-step explanation:

Both equations are x=10

Cross multiplication method, find the value z and y for 3x + 5y = 70 and 7x-3y =60

Answers

Answer:

Y=7.05

X= 11.6

Step-by-step explanation:

Equate both equations to zero

3x+5y=70--------equation 1

7x-3y=60---------equation 2

From the equation above

a1=3, b1=5, c1=-70

a2=7, b2= -3, c2=-60

By applying the cross multiplication method

x/b1c2-b2c1= y/a2c1-a1c2= 1/a1b2-a2b1

x/(5)(-60)-(-3)(-70)=y/(7)(-70)-(3)(-60)=1/(3)(-3)-(7)(5)

x/-300-(-210)=y/-490-(-180)=1/-9(-35)

x/-510=y/-310=1/-44

x/-510=1/-44 , y/-310=1/-44

-44x=-510 , -44y= -310

x=11.6 , y=7.05

Thus, the value of x is 11.6 and the value of y is 7.05

WILL GIVE BRAINLIEST PLEASE HELP!

Answers

Answer:

A. is 5. B. is 1.C. is 4.D. is 2.E. is 3.F. is 6.

Step-by-step explanation:

Slope is rise over run.

For example, 2 is equivalent to 2/2 so you find the graph that has a point at (2, 2).

Hope this helps :D

Determine the intercepts of the line.
Y+1=3(x - 4)

X-intercept:

y-intercept:

Answers

Answer:

x-intercept: (13/3, 0)

y-intercept: (0, -13)

Step-by-step explanation:

y+1 = 3x-12

y= 3x-13

For y-intercept:

y= 3(0) -13

y=-13

For x-intercept:

0=3x-13

3x=13

x=13/3

The intercepts of the line will be,

x-intercept: (13/3, 0)

y-intercept: (0, -13)

What is an intercept?

A y-intercept, also known as a vertical intercept, is the location where the graph of a function or relation intersects the coordinate system's y-axis. This is done in analytic geometry using the common convention that the horizontal axis represents the variable x and the vertical axis the variable y. These points satisfy x = 0 because of this.

Given that y+1=3(x - 4). The x-intercept and y-intercept will be calculated as,

y+1 = 3x-12

y= 3x-13

For y-intercept:

y= 3(0) -13

y=-13

For x-intercept:

0=3x-13

3x=13

x=13/3

Therefore, the x-intercept is (13/3, 0) and the y-intercept is (0, -13).

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Three is what percent of 600

Answers

Answer:

0.5.

Step-by-step explanation:

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