Assume that you purchased a new car today and financed $55,000 of the price on a 72-month payment contract with a nominal rate of 6.00%. Further, assume that you plan on paying off the balance of the car loan after you make your 48th payment. How much will your loan balance be when you pay off the car?

Answers

Answer 1

Answer:

The amount that your loan balance will be when you pay off the car is $20,566.18.

Step-by-step explanation:

Step 1. Calculation of monthly payment

This can be calculated using the formula for calculating the present value of an ordinary annuity as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value or the cost of the new car = $55,000

P = Monthly payment = ?

r = Monthly nominal rate = Nominal rate / 12 = 6% / 12 = 0.06 / 12 = 0.005

n = number of months = 72

Substitute the values into equation (1) and solve for P, we have:

$55,000 = P * ((1 - (1 / (1 + 0.005))^72) / 0.005)

$55,000 = P * 60.3395139355201

P = $55,000 / 60.3395139355201 = $911.51

Step 2. Calculation of the loan amount balance when you pay off the car

This can be calculated using the ballon payment formula as follows:

P = (PV - (Ballon / (1 + r)^n)) * (r / (1 – (1 + r)^-n)) ...................... (1)

Where:

P = Monthly payment = $911.51

PV = Present value or the cost of the new car = $55,000

Ballon = Ballon payment or the loan amount balance when you pay off the car = ?

r = Monthly nominal rate = Nominal rate / 12 = 6% / 12 = 0.06 / 12 = 0.005

n = number months to pay off the loan amount balance = 48

Substituting the values into equation (1) and solve for Ballon, we have:

911.51 = (55,000 - (Ballon / (1 + 0.005)^48)) * (0.005 / (1 - (1 + 0.005)^-48))

911.51 = (55,000 - (Ballon / 1.27048916109538)) * 0.0234850290479363

911.51 / 0.0234850290479363 = 55,000 - (Ballon / 1.27048916109538)

38,812.39 = 55,000 - (Ballon / 1.27048916109538)

Ballon / 1.27048916109538 = 55,000 - 38,812.39

Ballon / 1.27048916109538 = 16,187.61

Ballon = 16,187.61 * 1.27048916109538

Ballon = $20,566.18

Therefore, the amount that your loan balance will be when you pay off the car is $20,566.18.


Related Questions

A road has a scale of 1:50 000 The length of a road on the map is 8.5cm.Work out the length of the real road in kilometres

Answers

Answer:

ok so

8.5*150000

1275000 cm into kilometers is

12.75 kilometers

Hope This Helps!!!

Help Me Pls i need it now
Nonsense = Report​

Answers

Answer:

8,6,3, v= 144

4,8,6, v=192

15,10,6, v=900

Step-by-step explanation:

Answer:

This geometric questions are very very simple let's start to solve all steps

Step-by-step explanation:

L means long of Prism and look at 8 and 6 for first prism. Which one is longest of course 8

w means wide =6

h means high=3 and

V means Volume: You must multiply by 3, 6,8 to find volume, so we can say Volume 3*6*8=144 easily

B
These triangles
are congruent by
the triangle
congruence
postulate [?].
D
E
A. SSS
B. SAS
C. Neither, they are not congruent

Answers

Answer:

SAS

Step-by-step explanation:

AC ≅ EC (Given), ∠ACB ≅∠ECD ( Vertical Angles), and BC ≅ DC

What number must be added to both the numerator and denominator of the fraction 2/5 to get 7/8?
a) 13
b) 15
c) 17
d) 19​

Answers

The answer is D.
Adding 19 to both 2 & 5 in 2/5 will equal 21/24. 21/24 can then be simplified to 7/8.

The ice cream man just ended his shift for the day. Let 1/2x^2 6/11x + 8 represent the amount of chocolate ice cream bars he sold. Let 5/9x^2 + 2/3 represent the amount of vanilla ice cream bars he sold. Finally let 1/3x^2 + 4x + 4/3 represent the amount of strawberry ice cream bars he sold. Select all the statements that are true

a. The total amount of ice cream bars sold can be represented by the expression 25/18x^2+ 50/11x +10
b. The total amount of ice cream bars sold can be represented by the expression 25/18x^2 + 172/33x +28/3
c. He sold 1/6x^2 + 50/11x + 28/3 more chocolate than strawberry ice cream bars.
d. He sold 1/6x^2 - 38/11x + 20/3 more chocolate than strawberry ice cream bars.

Answers

Answer:

A and D

Step-by-step explanation:

Total ice cream bars sold = sum of chocolate sold , vanilla and strawberry ice-creams sold.

=(1/2)x2 + (6/11)x + 8 + (5/9)x2 + (2/3) +(1/3)x2 + 4x +(4/3) (Given in the question)

=(25/18)x2 + (50/11)x + 10 (Adding terms corresponding to x2,x ,constant respectively)

Difference in chocolate and strawberry bars =[ (1/2)x2 + (6/11)x + 8] - [(1/3)x2 + 4x +(4/3)]

= (1/6)x2 - (38/11)x +(20/3)

So, the correct options are A and D

Find the missing length indicated

Answers

x = 65

Step-by-step explanation:

cos theta = 25/x

cos theta = x/169

25/x = x/169

x² = 169 x 25

x = 65

The missing length x = 65, using the Pythagoras Theorem.

What is the Pythagoras Theorem?

According to the Pythagoras Theorem, in a right triangle, the square of the hypotenuse is equal to the sum of the squares of the legs.

How to solve the question?

In the question, we are asked to find the value of x.

In the right triangle ABC, by Pythagoras' Theorem,

AC² + BC² = AB²,

or, x² + BC² = (144 + 25)²,

or, BC² = 169² - x² ... (i).

In the right triangle ACD, by Pythagoras Theorem,

AD² + DC² = AC²,

or, 25² + DC² = x²,

or, DC² = x² - 25² ... (ii).

In the right triangle BCD, by Pythagoras Theorem,

BD² + DC² = BC²,

or, 144² + x² - 25² = 169² - x² {Substituting BC² = 169² - x² from (i) and DC² = x² - 25² from (ii)},

or, x² + x² = 169² + 25² - 144² {Rearranging},

or, 2x² = 28561 + 625 - 20736,

or, 2x² = 8450,

or, x² = 4225,

or, x = √4225 = 65.

Thus, the missing length x = 65, using the Pythagoras Theorem.

Learn more about the Pythagoras Theorem at

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ASAP there are three marbles in a bag. One is red and two are black. What is the probability of picking a black marble first, putting it back in the bag and then picking a black marble? Use the following probability to find the answer.

Answers

Answer:

[tex] \frac{4}{9} [/tex]

Step-by-step explanation:

[tex]p = \frac{favorable \: outcomes}{total \: outcomes} = \frac{4}{9} [/tex]

Answer:  Choice D)  4/9

=============================================================

Explanation:

The probability you get a black marble on the first selection is 2/3 since we have 2 black marbles out of 2+1 = 3 total.

We put the marble back and then we have 2/3 as the probability of selecting another black marble on the second try. Nothing has changed because we put the marble back. That means the events are independent.

So we get (2/3)*(2/3) = 4/9 as the probability of selecting 2 black marbles in a row (with replacement).

Alec bakes spherical rolls of bread. Each roll is about 8cm
wide. What is the approximate volume of each roll? Use
3.14 to approximate a.

Answers

Answer:

Step-by-step explanation:

2143.57

Find the distance between the pair of points: (0,1) and (1,0)

Answers

Answer:

sqrt(1^2 + 2^2)

[tex]\sqrt{2}[/tex]

Step-by-step explanation:

please help meeeeeeee
pt 4

Answers

Answer:

The answer is

[tex]2 {x}^{2} + 3x - 1 = 0[/tex]

Why? Below I explain

Step-by-step explanation:

That formula has three variables a, b and c.

So, a = 2, b = 3 and c = -1

Because the formula is written like

[tex] \frac{ - b + - \sqrt{ {b}^{2} - 4 \times a \times c} }{2 \times a} [/tex]

Rectangle ABCD translates 4 units down and 2 units to the right to form rectangle A'B'C'D'. The vertices of rectangle ABCD are labeled in alphabetical order going clockwise around the figure. If AB = 3 units and AD = 5 units, what is the length of B'C'?

Answers

Answer:

The length of BC is 14 units.

Step-by-step explanation:

[tex]hope \: \: it \: \: helps} \beta \alpha \infty [/tex]

The length of B'C' is 0 units.

What is translation?

It is the movement of the shape in left, right, up, and down direction.

The translated shape will have the same shape and shape.

There is a positive value when translated to the right and up.

There is a negative value when translated to the left and down.

We have,

The length of AD = 5 units.

Since the rectangle translates down by 4 units,

The length of A'D' =5 units.

The width of the original rectangle is AB, which is 3 units.

Since the rectangle translates to the right by 2 units,

The width of the new rectangle = 3 units.

Now,

The length of B'C' is the same as the length of AD', which is 5 units.

Subtracting 5 units from 5 units gives us a length of 0 units.

Thus,

The length of B'C' is 0 units.

Learn more about translation here:

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0.7(1.5 + y) = 3.5y - 1.47

Answers

Answer:

y = 0.9

Step-by-step explanation:

1.05 + 0.7y = 3.5y - 1.47

-3.5y + 0.7y = -1.47 - 1.05

-2.8y = -2.52

y = 9/10 = 0.9

Answer:

[tex]\textbf{HELLO!!}[/tex]

[tex]0.7\left(1.5+y\right)=3.5y-1.47[/tex]

[tex]1.05+0.7y=3.5y-1.47 \gets \textsl{Expand}[/tex]

[tex]1.05+0.7y-1.05=3.5y-1.47-1.05 \gets Subtract\; 1.05 \from\:both\:sides[/tex]

[tex]0.7y=3.5y-2.52[/tex]

[tex]0.7y-3.5y=3.5y-2.52-3.5y[/tex]

[tex]\mathrm{Subtract\:}3.5y\mathrm{\:from\:both\:sides} \nwarrow[/tex]

[tex]-2.8y=-2.52[/tex]

[tex]\frac{-2.8y}{-2.8}=\frac{-2.52}{-2.8} \hookleftarrow \mathrm{Divide\:both\:sides\:by\:}-2.8[/tex]

[tex]\boxed{\boxed{\underline{\textsf{\textbf{y=0.9}}}}}[/tex]

[tex]\bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet[/tex]

[tex]\textbf{HOPE IT HELPS}[/tex]

[tex]\textbf{HAVE A GREAT DAY!!}[/tex]

Chung has 6 trucks and 5 cars in his toy box. Brian has 4 trucks and 5 cars in his toy box.

Which is the correct comparison of their ratios of trucks to cars?
StartFraction 6 Over 4 EndFraction less-than StartFraction 5 Over 5 EndFraction
StartFraction 6 Over 4 EndFraction greater-than StartFraction 5 Over 5 EndFraction
StartFraction 6 Over 5 EndFraction less-than StartFraction 4 Over 5 EndFraction
StartFraction 6 Over 5 EndFraction greater-than StartFraction 4 Over 5 EndFraction

Answers

Given:

Chung has 6 trucks and 5 cars in his toy box.

Brian has 4 trucks and 5 cars in his toy box.

To find:

The correct comparison of their ratios of trucks to cars.

Solution:

The ratio of trucks to cars is defined as:

[tex]\text{Ratio}=\dfrac{\text{Number of trucks}}{\text{Number of cars}}[/tex]

Chung has 6 trucks and 5 cars in his toy box. So, the ratio of trucks to cars is:

[tex]\text{Ratio}=\dfrac{6}{5}[/tex]

Brian has 4 trucks and 5 cars in his toy box.

[tex]\text{Ratio}=\dfrac{4}{5}[/tex]

We know that,

[tex]6>4[/tex]

[tex]\dfrac{6}{5}>\dfrac{4}{5}[/tex]

Therefore, the correct option is D.

Answer:

what the guy above me said

Step-by-step explanation:

so yeah he is right points


Anne invested $1000 in an account with a 3% annual interest rate. She made no deposits or
withdrawals on the account for 2 years. If interest was compounded annually, which equation
represents the balance in the account after the 2 years?

Answers

for this problem you find 3 percent of $1000 to calculate the first year of interest which is 30 and then add it to your balance to get $1030 then you find 3 percent of that which is 30.9 and add it to your balance to get a total of $1060.9

find the area of the following figures: ​

Answers

Answer:

Area = 156 square cm

Step-by-step explanation:

HELP!!!! NUMBER 2

2. Find the distance between these two points.
First Point
Second Point
Distance
(5, - 2)
(8,6)
(5,6)
(-3,6)
(-3,6)
(5,-2)

Answers

Answer:

1. 8

2 . 11

[tex]3 . \sqrt{128} \ or \ 8 \sqrt2[/tex]

Step-by-step explanation:

[tex]Distance = \sqrt{(x_2 -x_1)^2 + (y_2 - y_1)^2 }[/tex]

1 . ( 5 , - 2 ) and ( 5 , 6 )

  [tex]Distance = \sqrt{(5 -5)^2 + ( 6-(-2))^2} = \sqrt{ 0 + 8^2 } = \sqrt{64} = 8[/tex]

2 . ( 8 , 6 ) and ( - 3 , 6 )

  [tex]Distance = \sqrt{( -3 -8)^2 + ( 6 - 6)^2 } = \sqrt{ (-11)^2 + 0 } = \sqrt { 121 } = 11[/tex]

3. ( 5 , - 2 ) and ( -3 , 6 )

  [tex]Distance = \sqrt{(-3 - 5)^2 + ( 6 --2)^2} = \sqrt{(-8)^2 + ( 8)^2} = \sqrt{ 64 + 64 } = \sqrt{128}[/tex]

   

          [tex][ \ \sqrt{128} = \sqrt{ 2 \times 64} = \sqrt{ 2 \times 8^2 } = 8 \sqrt{2} \ ][/tex]

HELP ME PLEASE IF YOU DO YOU WILL GET BRAINLESS AND PLEASE EXPLAIN THE BEST YOU CAN

Answers

Answer:

<3=75°

Step-by-step explanation:

Angle 3 and angle 2x+95 are supplementary( supplementary angles add up to 180°)

So <3+2x+95=180

<3+2x=180-95

<3+2x=85( let's call this equation 1)

Next, angle 5 and angle 8x+71 are opposite angles (opposite angles are equal) therefore <5=8x+71

Now, <3 and <5 are co-interior angles(co-interior angles are supplementary)

So <3+8x+71=180

<3+8x=180-71=109

Thus, <3+8x=109(let's call this equation 2)

Now solving equation 1 and 2 simultaneously:

Make <3 the subject of equation 1

<3=85-2x

Put <3=85-2x into equation 2

85-2x+8x=109

6x=24

x=24/6=4

Now, remember that angle 2x+95 becomes

2(4)+95

8+95=103°

Therefore<3=180-105=75°

Solve the equation 2x^2 + 3 – 41 = –15 to the nearest tenth.

Hellllpppp

Answers

9514 1404 393

Answer:

 x = {-4.4, +2.9}

Step-by-step explanation:

We assume you want to solve ...

  2x^2 +3x -41 = -15

Adding 41 and factoring out the leading coefficient gives ...

  2(x^2 +3/2x) = 26

Dividing by 2 makes it ...

  x^2 +3/2x = 13

We can add the square of half the x-coefficient to "complete the square."

  x^2 +3/2x +(3/4)^2 = 13 +(3/4)^2

  (x +3/4)^2 = 13.5625 . . . . write the left side as a square

  x +3/4 = ±√13.5625 . . . . . take the square root

  x = -0.75 ±3.683 = {-4.433, +2.933} . . . . subtract 3/4 and evaluate

The solutions are approximately x = -4.4 and x = 2.9.

Suppose that from a group of 9 men, 1 will be randomly chosen for a dangerous assignment, and suppose that the chosen man will be killed during the assignment with a probability of 1/6. If Mark is one of the 9 men, what is the probability that he will be chosen for the assignment and killed during the assignment

Answers

Answer:

1/54

Step-by-step explanation:

1/9 x 1/6

How do you find the surface area

Answers

Answer:

It depends on what shape you have. Here are some formulas for different shapes.

Step-by-step explanation:

Rectangular prism: 2lw + 2lh + 2wh

Cylinder: 2 pi r² + 2 pi rh

Sphere: 4 pi r²

Cone: pi r² + pi rl

Square-based pyrimid: 1/2lp +B

I hope this helps!

Need help finding the factor of 2y^2-2y-4

Answers

Answer:

hope it helps you............

Answer:

2(y - 2)(y + 1)

Step-by-step explanation:

Given

2y² - 2y - 4 ← factor out 2 from each term

= 2(y² - y - 2) ← factor the quadratic

Consider the factors of the constant term (- 2) which sum to give the coefficient of the y- term (- 1)

The factors are - 2 and + 1, since

- 2 × 1 = - 2 and - 2 + 1 = - 1 , then

y² - y - 2 = (y - 2)(y + 1)

Then

2y² - 2y - 4 = 2(y - 2)(y + 1) ← in factored form

Hi, could someone help me solve this. so the question says to find the area of the shaded part (in black) , in terms of pie (π). the length of the square is 12 cm. the radius of the circle is 6cm. i came with the answer of (144-36π)/4. is this ok? below is the picture of the question. ​

Answers

Answer:

yes but can be simplified

Step-by-step explanation:

area of shaded part = ( area of square - area of circle ) / 4

= [tex]\frac{12^2-\pi (6)^2}{4}[/tex]

= [tex]\frac{144-36\pi }{4}[/tex]

= [tex]\frac{144}{4}[/tex] - [tex]\frac{36\pi }{4}[/tex]

= 36 - 9π

to train for a race, you plan to run 1 mile the first week and double the number of miles each week for five weeks. How many miles will you run for the 5th week. math problem

Answers

Answer:

16 Miles

Step-by-step explanation:

For every week you simply multiply the number of miles from the previous week by 2, therefore

Week 1: 1

Week 2: 2

Week 3: 4

Week 4: 8

Week 5: 16

21(2-y)+12y=44 find y​

Answers

Answer: y= -2/9
Explanation:
21(2-y)+12y=44
42-21y+12y=44
42-9y=44
-9y=2
y=-2/9

Answer:

[tex]\textbf{HELLO!!}[/tex]

[tex]21\left(2-y\right)+12y=44[/tex]

[tex]42-21y+12y=44[/tex]

[tex]~add ~similar\:elements[/tex]

[tex]42-9y=44[/tex]

[tex]Subtract~42~from~both~sides[/tex]

[tex]42-9y-42=44-42[/tex]

[tex]-9y=2[/tex]

[tex]Divide\:both\:sides\:by\:}-9[/tex]

[tex]\frac{-9y}{-9}=\frac{2}{-9}[/tex]

[tex]y=-\frac{2}{9}[/tex]

----------------------

hope it helps...

have a great day!

Calculate the mean, the variance, and the standard deviation of the following discrete probability distribution. (Negative values should be indicated by a minus sign. Round intermediate calculations to at least 4 decimal places. Round your final answers to 2 decimal places.)
x −36 −26 −15 −4
P(X = x) 0.32 0.36 0.21 0.11
Mean
Variance
Standard deviation

Answers

Answer:

Mean = 24.47

Variance = 108.31

Standard deviation = 10.41

Step-by-step explanation:

The probability distribution table has been attached to this response.

(1) To calculate the mean (m)

(a) First multiply each of the values of x by their corresponding probability values.

This is shown in the third column of the table.

(b) The sum of the results in the third column gives the mean of the distribution. i.e

m = ∑xP(x) = 11.52 + 9.36 + 3.15 + 0.44

m = 24.47

(2) To calculate the variance (σ²).

(a) First find the square of the difference between the values of x and the mean (m) calculated in (1b) above. i.e

(x - m)²

The result is shown in the fourth column of the table.

(b) Next, multiply each of the results in the fourth column (x - m)², by their corresponding probability values P(X = x). i.e

(x - m)²(P(X = x))

The result is shown in the fifth column of the table.

(c) Now find the variance (σ²) which is the sum of the results in the fifth column. i.e

σ² = ∑(x - m)²(P(X = x)) = 42.5411 + 0.8427 + 18.8330 + 46.0923

σ² = 108.3091

σ² = 108.31      [to 2 decimal places]

(3) To calculate the standard deviation (σ)

The standard deviation is the square root of the variance of the distribution. Calculate this by finding the square root of the result in (2c) above.

σ = √σ²

σ = [tex]\sqrt{108.31}[/tex]

σ = 10.4072

σ = 10.41        [to 2 decimal places]

what is 5.73 as a mixed number​

Answers

Answer:

[tex]5 \ \frac{73}{100} [/tex]

Step-by-step explanation:

Convert the decimal number to a fraction by placing the decimal number over a power of ten. Since there are

2 numbers to the right of the decimal point, place the decimal number over 10^2 (100). Next, add the whole number to the left of the decimal.

Answer:

5 73/100

Step-by-step explanation:

5.73 = 573

100

= 573

100

as a fraction

To convert the decimal 5.73 to a fraction, just follow these steps:

Step 1: Write down the number as a fraction of one:

5.73 = 5.73

1

Step 2: Multiply both top and bottom by 10 for every number after the decimal point:

As we have 2 numbers after the decimal point, we multiply both numerator and denominator by 100. So,

5.73

1

= (5.73 × 100)

(1 × 100)

= 573

100

.

(This fraction is alread reduced,

As the numerator is greater than the denominator, we have an IMPROPER fraction, so we can also express it as a MIXED NUMBER, thus 573

100

is also equal to 5 73/100

when expressed as a mixed number.

For this question I am sure the answer is 81% as you divide 45 and 55. However, it is stating my answer is incorrect even though I put 0.81% as well. Did I round wrong or is the answer wrong completely?

Answers

Answer:

it says round to the nearest 10th so it wouldn't be 81, it would be 81.8%

Use the distributive property to write the next step in simplifying th
numerical expression
7(2 + 7)

A. 7• 2+7•7
B. 7• 2+7
C. (7+2) • (7 + 7)
D. 7+2 • 7+ 7

Answers

Answer:

A)

Step-by-step explanation:

If using the method of completing the square to solve the quadratic equation x^2+15x+21=0, which number would have to be added to "complete the square"?

Answers

Step-by-step explanation:

the answer is in the above image

Answer:

my answer is 225/5 sorry comments for wrong

474 ( ) 548 42. - 8 how do I arrive at this answer.

Answers

9514 1404 393

Answer:

  (64x^28)/(5y^22)

Step-by-step explanation:

The applicable rules of exponents are ...

  (a^b)^c = a^(bc)

  (a^b)(a^c) = a^(b+c)

  (a^b)/(a^c) = a^(b-c)

__

First, eliminate the outside exponent on the left factor. Then use the above rules to combine factors with the same base.

  [tex]\displaystyle\left(\frac{4x^4}{5y^6}\right)^5\cdot\left(\frac{5^4y^8}{4^2x^{-8}}\right)=\frac{(4^5x^{20})(5^4y^8)}{(5^5y^{30})(4^2x^{-8})}=4^{5-2}5^{4-5}x^{20-(-8)}y^{8-30}\\\\=4^35^{-1}x^{28}y^{-22}=\boxed{\frac{64x^{28}}{5y^{22}}}[/tex]

Other Questions
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