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.
To buy a car, you borrow $27,000 with a term of five years at an APR of 6%. What is your monthly payment? (Round your answer to the nearest cent.)
$
How much total interest is paid? (Round your answer to the nearest cent.)
$

Answers

Answer 1

Answer:

The correct answer is -

monthly payment = 521.99

total pain intrest = 4319.14

Step-by-step explanation:

Given:

a or the borrowed amount = 27000

r or the interest rate = 6%

n = 5 years or 60 months

Monthly payment = ?

total intreset = ?

Formula:

The formula for the monthly payment is -

[tex]\frac{a}{\frac{{[(1+r)^n]-1}}{[r(1+r)^n]}} = P[/tex]

or, [tex]\frac{ar}{[1-(1+r)^{-60}}[/tex] = P

Where, the amount of the loan = a

r = 0.005 (6% annual rate—expressed as 0.06—divided by 12 monthly payments per year)

n = 60 months

Solution:

Putting all the values in the either of the following formula will give monthly payments:

[tex]\frac{27000}{\frac{{[(1+0.005)^{60}]-1}}{[0.005(1+0.005)^{60}]}} = P[/tex] or  [tex]\frac{ar}{[1-(1+r)^{-60}}[/tex]

= 521.9856 or to the nearest cent 521.99.

The total intrest would be -

= (monthly payment*number of month) - amount borrowed

= 521.99*12-27000

= 31319.14-27000

= 4319.14


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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

What is the first step in using the square root property?

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Answer: Isolate the term that contains the squared variable. Then, take the square root of both sides and solve.

Step-by-step explanation:

To solve an equation by using the square root property, you will first isolate the term that contains the squared variable. You can then take the square root of both sides and solve for the variable. Make sure to write the final answer in simplified form.

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Answer:

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Step-by-step explanation:

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Which expression represents the area in square centimeters of the new cup opening? Use A=2

Answers

Answer:

A = πx² - 2πx + π

Step-by-step explanation:

The area of the new cup opening :

We are given the area formula to use :

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Answers

Answer: x=15 & y=52

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Answers

Answer:

x = 60°

Step-by-step explanation:

Special Angles :

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Answer:

C.

Step-by-step explanation:

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100 Brainly points!!!!

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Answers

Answer:

Point A’ is at (-2,-2)

& point D' is at (4,-2)

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Answers

Answer:

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Step-by-step explanation:

5 square root 2 is 25

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Question 1 of 10
The number √3 goes on forever with no repeating pattern; therefore, it is
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A. True
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SUBMIT

Answers

the answer should be true

Answer:

False

Step-by-step explanation:

Rational number :

A rational number is a number which can be represent as p/q of two integers where q is not equal to zero

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Answers

Answer:

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Step-by-step explanation:

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DISTANCE

The formula in finding the distance between two points is given below:

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Substitute the given values into the distance formula and solve for d:

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Therefore, the distance between two points is [tex]\sqrt{113}[/tex] or 10.6 units.

[tex]\\[/tex]

Now, wasn't that easy? Try this sample problem:

Find the distance between P(1, 3) and Q(7, 11).

From the sample problem above, you may solve it on your own to enhance your skill on calculating the distance.

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Answers

Answer:

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Step-by-step explanation:

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Refer this attachment

Hope it's help you

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Answers

Infinite number of solutions I believe.

9514 1404 393

Answer:

  no solution

Step-by-step explanation:

The two lines are parallel, so do not intersect. There is no solution.

Please help kdkeoeieiei

Answers

Answer:

NEGATIVE

Step-by-step explanation:

Answer:

positive

Step-by-step explanation:

positive

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Answers

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Answers

Answers:

10 people absent15 people working in the field onlySee the below image for the venn diagram

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

Explanation:

35 people are working in both places. 50 work in the field or both, so 50-35 = 15 people work solely in the field. 65 work in the office or both, so 65-35 = 30 people work solely in the office

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The venn diagram is below.

Should I get my nose pierced??

Answers

Answer:

no...you can just use a clip on

Answer:

it's absolutely worth it. The pain of getting one isn't that bad, at least for me. It's just a quick pinch. It'll look so good. Just make sure you are also cleaning it.

Step-by-step explanation:


Select the correct answer.
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Answer:

I think No B

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have a great day

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Answers

Answer:

its 1.388 p

Step-by-step explanation:

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Answers

Answer:

$0.25

Step-by-step explanation:

Answer:

A

Step-by-step explanation:

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Answers

Answer:

[tex]P (1.41 < z < 2.85) = 0.0771[/tex]

Step-by-step explanation:

Required

[tex]P (1.41 < z < 2.85)[/tex]

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