Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced.

Assume that you take out a $2000 loan for 48 months at 3.5% APR. How much total interest will you have paid at the end of the 48 months? (Round your answer to the nearest cent.)
$

Answers

Answer 1

Step-by-step explanation:

Are you using a particular calculator for the class? For this class, is the payment expected to be compounded monthly?

There is a function in Microsoft Excel that will calculate the payment for you, but the answer is going to be slightly different for a business math class than a calculus-based statistics class.

The excel formula to calculate a payment is

=PMT(0.04/12,60,25000,0)

.04/12 is the interest APR on a monthly basis

60 is the number of months

25000 is the current amount owed

0 is the future balance after 60 payments

The answer from Excel is $460.41 -- ignore the negative sign for these purposes.

Multiply that number by the 60 months you pay and you get a total paid of $27,624.78

Remove the initial 25K and $2,624.78 is your interest amount.

By the way, I used the simplifying assumptions that the problem meant "interest rate" when it said "APR", and that the rate would compound monthly. In the actual loan industry, the interest rate is only part of the calculation for APR, a

146.08

Step-by-step explanation:

Let's start by figuring out the payment

effective rate: .035/12= .002916667

\begin{gathered}2000=x\frac{1-(1+.002916667)^{-48}}{.002916667}\\x=44.71\end{gathered}

2000=x

.002916667

1−(1+.002916667)

−48

x=44.71

then it's just

44.71*48-2000=146.08

Answer 2

Answer:

146.08

Step-by-step explanation:

Let's start by figuring out the payment

effective rate: .035/12= .002916667

[tex]2000=x\frac{1-(1+.002916667)^{-48}}{.002916667}\\x=44.71[/tex]

then it's just

44.71*48-2000=146.08


Related Questions

I need help with #3. Please help. I have to show all work so please explain

Answers

Answer:

a = 2

Step-by-step explanation:

Use Pythagorean Theorem:

[tex]a^2+b^2=c^2\\a^2+2.1^2=2.9^2\\a^2+4.41=8.41\\a^2=4\\\sqrt{a^2}=\sqrt{4}\\a=2[/tex]

Therefore, a is 2 meters.

Helpp please… due at 12:00

Answers

Answer:alternate exterior angles

Step-by-step explanation:

Since they’re on the outside of the parallel lines that makes them exterior

The correct answer is C. Alternate Exterior Angles

expand 3e(e+4)
Hhhhhhh

Answers

Answer:

[tex]3e^{2} + 12e[/tex]

Step-by-step explanation:

[tex]3ee+3e4[/tex]

[tex]3ee+3 * 4e[/tex]

[tex]3e^{2} + 12e\\[/tex]

[tex]3 \: {e}^{2} + 12 \: e[/tex] ✅

[tex]\large\mathfrak{{\pmb{\underline{\red{Step-by-step\:explanation}}{\orange{:}}}}}[/tex]

[tex]3 \: e \: ( \: e + 4 \: ) \\ \\ = 3 \: e \times \: e + 3 \: e \times 4 \\ \\ = 3 \: {e}^{2} + 12 \: e[/tex]

[tex]\large\mathfrak{{\pmb{\underline{\orange{Mystique }}{\orange{♡}}}}}[/tex]

What is the area of this???

Answers

9.09(m2)??
I think so

what is the mean mark of 847 ÷ 30?

Answers

Answer:

Step-by-step explanation:

I will give BRAINLIEST to whoever answers correctly first!!!

Sophie wants to buy a pair of scissors that cost $1.82. If she gives the cashier a five dollar bill, how
much change should she get back?

Answers

$3.18

Explanation: I am a cashier hahaha

Answer:

Sophie will get $3.18 back in change.

Step-by-step explanation:

You do 5.00-1.82 and you get 3.18, which is equal to the change that Sophie will get.

pls i need this one n i pass the class pls pls help me

Answers

9514 1404 393

Answer:

  x = 5

Step-by-step explanation:

The two triangles are similar by the ASA theorem. The ratio of long side to short side in each right triangle is the same:

  x/3 = 7.5/4.5

  x = 3(7.5/4.5) . . . . multiply by 3

  x = 5

x+y=13
2x-y=5

solve using any method

Answers

Answer:

x = 6 , y = 7

Step-by-step explanation:

solving  by substitution method

x + y = 13

x = 13 - y                          equation (i)

2x - y = 5

substitute the value of x

2(13 - y) - y = 5

26 - 2y - y = 5

26 - 3y = 5

26 - 5 = 3y

21/3 = y

7 = y

substitute the value of y in equation (i)

x = 13 - y

x = 13 - 7

x = 6

calculate 3ab + b for a=2 and b=-3

Answers

Your answer will be -21 as it’s 3x2x-3-3=21

if △ABC = △DEF, which side is congruent to EF?
A. AB
B. BC
C. AC

Answers

Answer:

BC

Step-by-step explanation:

BECAUSE BC IT'S EQUAL TO EF

Answer:

B. BC

Step-by-step explanation:

By SSS rule in ∆ ABC and DEF,

AB = DEBC = EFCA = FD

Work out the lengths of sides a and b.
Give your answers to 1 decimal place.
17 cm
a
a
b
8 cm
12 cm
5 cm

Answers

Answer:

No solution is possible since you failed to provide the necessary information

Step-by-step explanation:

Help me out plsssssss

Answers

120 the answer is 120

Answer:

125

Step-by-step explanation:

the bearing of b to a is equal to 85+45

a + b = 300 pls help i cant find out the answer

Answers

Answer:

a= 250

b= 50

250 + 50 = 300

Step-by-step explanation:

There's many solutions but this was the first one I could come up with.

Answer:

my opinion is seince a+b=300 then the sqaure of 300= 17.3?

Step-by-step explanation:

PLEASE HELP ME FAST I WILL GIVE BRAINLYEST

Answers

7.)

cbrt(1200)

10.63

8.)

sqrt(112)

10.58

Answer:

1.) because 10^3=1000 and 11^3 = around 1330  we know that the answer must fall between 10 and 11. Because they're pretty much equal distance I would estimate it to be around 10.5 (if you need an exact answer it's 2∛150)

2.) because 11^2=121 and 10^2= 100 we know that it must fall between 10 and 11. Because these are pretty much equal distance as well I would estimate it to be around 10.5 as well (if you need an exact answer it's 4√7)

Step-by-step explanation:


To prove ABC= ADC, To prove which triangle postulate could you use?

SSS
SAS
ASA
AAS

Answers

Answer:

ASA

Step-by-step explanation:

..................

To prove ABC = ADC, We use ASA triangle postulate.

What is congruency?

We know two similar planer figures are congruent when we have sides or angles or both that are the same as the corresponding sides or angles or both.

The similarity of triangles on the other hand is when the corresponding angles are equal but the corresponding sides are not equal but they have the same common ratio.

From the given diagram a quadrilateral ABCD is given,

Line segment AC divides quadrilateral ABCD into two triangles namely

ABC and ADC, and both have a common side AC.

m∠BAC ≅ m∠DAC and m∠BCA ≅ m∠DAC.

Therefore, Triangle ABC and ADC are congruent by ASA, with two angles and a side included between them.

learn more about congruency here :

https://brainly.com/question/7888063

#SPJ7

There is a bag with only red marbles and blue marbles.
The probability of randomly choosing a blue marble is
7
8
.
There are 56 marbles in total in the bag and each is equally likely to be chosen.
Work out how many red marbles there must be.

Answers

Answer:

7

Step-by-step explanation:

The probability of choosing a blue marble is 7/8, or 49/56, which means that out of 56 marbles, 49 are blue. 56-49=7, so there are 7 red marbles. Hope this helps! :)

33. Given the following algebraic expression 5x² + 10 Which statement is true?
a. The coefficient is 5
b. The constant is 2
C. The power is 10
d. The constant is 5

Answers

Answer:

Given the following algebraic expression 5x² + 10 Which statement is true?

a. The coefficient is 5. ( true)

b. The constant is 2

C. The power is 10

d. The constant is 5

the answer is A
hope this helps

What is the result of subtracting the second equation from the first

Answers

I didn’t undertand the question... mayb ur attachment isnt added! Plz check!


In 42 - 15 = 27, the number 42 is called the
the number 15 is called the
and the number 27 is called

Answers

Answer:

The Answer to the Ultimate Question of Life, the Universe, and Everything is 42

Step-by-step explanation:

In this equation, the number 42 is called a minuend.

15 is a subtrahend because it is being subtracted from another number.

The number 27 would be called the difference.

Sadie and Connor both play soccer. Connor scored 2 times as many goals as Sadie. Together they scored 9 goals. Could Sadie have scored 4 goals? Why or why not?

Answers

Answer:

no

the goal total would be too high

Step-by-step explanation: If Sadie had scored 4 goals, Connor would have scored 2 times 4 = 8 goals. Their goal total would then be 4+8 = 12, not 9. Sadie cannot have scored 4 goals.

__

If we let s represent the number of goals Sadie scored, then 2s is the number Connor scored. Their total is ...

 s + 2s = 9

 3s = 9 . . . . . . collect terms

 s = 9/3 = 3 . . . divide by the coefficient of s

Sadie scored 3 goals. (s=4 is not the solution to the problem)

Find the center and radius of x^2 + y^2 +6x - 7=0

Answers

Answer:

The center (-3, 0)

9514 1404 393

Answer:

center: (-3, 0)radius: 4

Step-by-step explanation:

The desired parameters can be found by putting the equation into the standard form for the equation of a circle:

  (x -h)^2 +(y -k)^2 = r^2 . . . . . circle centered at (h, k) with radius r

The values of h and k will be half the coefficients of the linear x- and y-terms, respectively.

  x^2 +6x +9 +y^2 -7 = 9 . . . . . add 9 to complete the square

  (x +3)^2 +y^2 = 16 . . . . . . . . . add 7 to get the desired form

This equation shows us (h, k) = (-3, 0) and r = 4.

The center is (-3, 0), and the radius is 4.

For a rock concert a rectangular field of size 100 m by 50 m was reserved for the
audience.
The concert was completely sold out and the field was full with all the fans standing.
Which one of the following is likely to be the best estimate of the total number of people
attending the concert?

2000
5000
20000
50000
100000

Answers

Answer:

5000

Step-by-step explanation:

but this depends upon how much room each person needs

What is the product?
(-282 +8)(502-65)

Answers

Answer:

option c is the answer for pic

and for question the answer is

(-274)*(437)

-119738

Answer:

the first one

Step-by-step explanation:


in rectangle ABCD above,
1. How many opposite sides are equal?
2. Name the parallel opposite sides.
3. Name the opposite angles that are equal.
4. How many right angles can you identify?
5. Identify the equal opposite sides.
6. How many triangles can you identify?
7. Line AB and CD are adjacent to each other.
true or false?
8. the dotted lines AC andBD are called what?

Answers

Answer and Step-by-step explanation:

1. 2 pairs (aka 4 sides) of Opposite Sides are equal

2. AB and DC are parallel, and AD and BC are parallel  

3. Angles BDC and ACD are equal, angles DAC and DBC are equal, the angles ADB and BCD are equal, angles CAB and DBA are equal

4. 4 right angles

5. AB and DC are equal, and AD and BC are equal

6. 4 Triangles

7. False

8. Diagonals of a rectangle.

#teamtrees #PAW (Plant And Water)

please help picture included
Match the verbal expression (term) with its algebraic expression (definition). Match Term Definition Some number A) a = 2 increased by two A variable decreased B) b + 2 by two Product of an C) y2 unknown value and two D) X - 2 Quotient of some number and two An unknown value E) 22 squared​

Answers

9514 1404 393

Answer:

  B, D, E, A, C

Step-by-step explanation:

The main idea here is to use your English comprehension skill to determine the meaning of the phrase, then use your math understanding to write it in symbols. Turning off your brain at the sight of a "word problem" will not be productive.

The wording "some number" or "a variable" or "unknown value" all refer to a variable, typically represented by a single letter. Letters commonly use are {a, b, c, x, y, z}, but variables are not restricted to that set (nor to single letters, nor lower case letters).

In most cases, the math expression is a direct translation of the English expression using the usual math symbols. Values are generally increased by addition, decreased by subtraction, squared using an exponent of 2. A product is the result of multiplication, and a quotient is the result of division.

Top-to-bottom, the boxes on the left will be filled with B, D, E, A, C.

Instructions: Find the value of x
Please help

Answers

The two chords are the same length given by the 4 short lines through each section.

Because the chords are the same length they need to be equal distance from the center of the circle

X = 9

Plzzz someone help i just need the formula

Answers

Answer:

[tex]S(y)=36000*(1+0.03)^{y}[/tex]

Step-by-step explanation:

Answer:

y=36,000×1.03^x

Step-by-step explanation:

Write the word sentence as an inequality.
3.2 less than a number t is at most 7.5

Answers

t-3.2 ≤ 7.5

"at most" means less than or equal to

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