suppose that you borrow $10,000 for four years at 7% towards the purchase of your car find the monthly payment in total of interest for the loan?

Answers

Answer 1

The 10,000 loan has 132.56 in monthly payments, and the loan's total interest is 5363.27.

What is the loan's monthly payment schedule?

Until the loan is repaid in full at the conclusion of its term, the principle and interest that make up each level payment are shown on a loan amortisation schedule, which is the whole table of periodic loan payments.

The formula for monthly payments for the loan is,

[tex]$M . P .=\frac{P(r / n)}{1-(1+r / n)^{-n t}}$[/tex]

where, P is the initial amount

r is the rate

n is the period in a year

is the number of years

Now it is given that,

Principle amount borrowed P =  10,000

Rate of interest, r = 7% = 0.07

Monthly Payment, so n = 12

Time, t = 4 years

Thus, Monthly payment of the loan is given as,

[tex]M . P .=\frac{P(r / n)}{1-(1+r / n)-n t}[/tex]

Putting the values we get,

[tex]\text { M.P. }=\frac{10,000(0.07 / 12)}{1-(1+0.07 / 12)-12 * 4}[/tex]

Simplifying we get,

[tex]\text { M.P. }=\frac{(70 / 12)}{1-(12.07 / 12)^{-48}}[/tex]     or,

[tex]\text { M.P. }=\frac{5.833}{1-(1.005)^{-48}}[/tex]

Thus, we get

[tex]\text { M.P. }=\frac{5.833}{1-0.756}[/tex]    or,

[tex]\text { M.P. }=\frac{5.833}{0.244}[/tex]

Solving we get,

[tex]\text { M.P. }=\$ 132.56[/tex]

This is the loan's needed monthly payment.

The difference between the total amount of monthly payments made and the original sum will now be the total amount of interest paid.

Thus,

Total interest of the loan = T.M.P - P

Therefore,

Total Monthly Payments = M.P x t x n

Putting the values we get,

Total Monthly Payments = 132.56 x 4 x 12

⇒ Total Monthly Payments = $6363.27

Therefore,

Total interest of the loan = 6363.27 - 10,000

⇒ Total interest of the loan = $5363.27

As a result, the 10,000 loan's monthly payment is 132.56, and its overall interest cost is 5363.27.

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Related Questions

2x-3y+4=0 Rewrite the equation in simplified slope-intercept form

Answers

The equation in simplified slope-intercept form is y = (2/3)x + 4/3.

What is the slope-intercept form of the line?

The slope-intercept form is a way of writing a linear equation in the form of y = mx + b, where m is the slope of the line and b is the y-intercept.

To rewrite the equation 2x-3y+4=0 in simplified slope-intercept form, we need to rearrange the equation to get y by itself on one side of the equation.

To do this, we can add 3y to both sides of the equation:

2x + 4 = 3y

Then we can divide both sides by 3:

(2/3)x + 4/3 = y

Now we have the equation in the form of y = mx + b, where m is the coefficient of x, which is (2/3) and b is the constant term on the right side, which is 4/3.

Hence, the equation in simplified slope-intercept form is y = (2/3)x + 4/3

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You bought a STRIP at 96 dollars with maturity of 3 years. Calculate the yield to maturity of this STRIP

Answers

The yield to maturity of this STRIP is 1.36%

What is Percentage?

percentage, a relative value indicating hundredth parts of any quantity.

Current price = $96

Par Value = $100

Time to Maturity = 3 years

Semiannual Period = 3 × 2 = 6

The yield to maturity of this STRIP will be calculated as:

Let the semiannually yield to maturity be represented by y.

96 = 100/(1 + y)⁶

Cross multiply

96(1+y)⁶= 100

Divide both side by 96

(1+y)⁶= 100/96

(1+y)⁶= 1.0417

1 + y⁶ = 1.0417

y⁶ = 1.0417 - 1

y⁶ = 0.0417

y = 0.0068

Therefore, the semiannual YTM = 0.0068

Annual YTM will now be:

= 2 × Semiannual YTM

= 2 × 0.068

Annual YTM = 0.0136

Hence, the yield to maturity of this STRIP is 1.36%

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Problem No. 9 Each of the letters in the multiplication sum below represents a digit: 7A times B5 C90 DE20 = F5GH What is the value of A+B+C+DE+F+G+H?
look at pictured attached to understand better ​

Answers

The value of   A+B+C+D+E+F+G+H = 5+11+1+1+3+1+1+0 that is equals to 23.

What is Algebraic expression ?

Algebraic expression can be defined as the combination of variables and constants.

Given ,

Each of the letters in the multiplication sum below represents a digit: 7A times B5

C90 DE20 = F5GH

Than we have to find

the value of A+B+C+D+E+F+G+H =

From first expression ,

7A times B5 = C90

From this we can say that A = 5 as

last digit in C90 is 0

so,

75 + B5 = C90

if C=1

75+B5 = 190

B5 = 190 -  75

B5 = 115

B = 11

And

C90 + DEF20 = F5GH

190 + DEF20 = F5GH

H = 0

G = 1

F = D

that is F=1

D = 1

E = 3

So, the value of   A+B+C+D+E+F+G+H = 5+11+1+1+3+1+1+0 that is equals to 23.

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Convert 1.80 hours to seconds
dimensional analysis

Answers

Answer:

6500

Step-by-step explanation:

1.8 hours is 6,500 seconds

1.80 hours is 6,500 seconds :p

Solve asap I really need the answer!

Answers

Answer: 1331

Step-by-step explanation:

11^3 = 121 * 11 = 1331

A credit card advertises an APR of 21.99%. What would the MPR (monthly percentage rate) be?
a- 1.6825%
b- 1.8325%
c-2.2275 %
d- 2.2725%

Answers

Answer:

  b.  1.8325%

Step-by-step explanation:

You want the monthly percentage rate corresponding to an annual percentage rate of 21.99%.

Monthly rate

The rate for any part of a year is found by multiplying the annual rate by the fraction that part is of a year. A month is 1/12 of a year, so the monthly rate is ...

  (1/12) × 21.99% = 1.8325%

The MPR is 1.8325%.

An isosceles triangle has base angles that each measure 49,
Which equation can be used to find b, the measure of the third angle of this isosceles triangle in degrees?
O 49 + 6-180
O98b-180
O49+2b-180
O98-2b-180

Answers

The third angle is 82 degrees.

What is an isosceles triangle?

An isosceles triangle in geometry is a triangle with two equal-length sides. It can be stated as having exactly two equal-length sides or at least two equal-length sides, with the latter definition containing the equilateral triangle as an exception.

Here, we have

Given:

Two base angles are 49 degrees.

and the third angle is x.

Using Angle Sum property

x + 49 + 49 = 180

x + 98 = 180

x = 180 - 98

x = 82

Hence, the third angle is 82 degrees.

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The base of a right-angled triangle is 10cm and it's height is 15cm. Tommy was asked to calculate the length of the hypotenuse, giving the exact value in scientific notation. Tommy gave his answer as 18.03 x 10 and stated that exact value is not possible because the number is irrational. Using hypotenuse^2 = base^2+ height^2, A) State whether or not Tommy is correct, show working. (3 marks) B) Explain how you know. (2 marks

Answers

Tommy is right about the fact that an exact value is not possible because the number is irrational but the correct approximate length is 18.30.

What is Pythagoras's theorem?

In a right-angled triangle, the sum of the squares of the smaller two sides of a right-angle triangle is equal to the square of the largest side.

Given, The base of a right-angled triangle is 10cm and its height is 15cm.

We know, hypotenuse² = base² = height².

Therefore,  hypotenuse² = 10² + 15².

hypotenuse² = 100 + 225.

hypotenuse = √335.

hypotenuse = 18.30.

But Tommy gave his answer as 18.03×10 which is equal to 180.3.

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If the area of the triangle is 10 cm squared, what are the height and the base?

Answers

Answer: The height would be 4cm², and the base would be 5cm²

                        Height = 4 cm²         Base = 5 cm²

Step-by-step explanation:

Area of triangle = (1/2) Height x Base

 10 = (1/2) x W · H

Substitute

  (1/2) 4 · 5

Solve

  2 · 5 = 10

Please help me with the following one

Answers

In the given options, Option A is different from the rest three options.

What is Pentagon?

It is a type of polygon, which has 5 equal sides and all the interior angles are of  108°.

Given that,

Four statements about interior angles of pentagon

1. What is the measure of an interior angle of a regular pentagon

2. What is the sum of the interior angle measures of a convex pentagon

3. What is the sum of the interior angle measures of a regular pentagon

4. What is the sum of the interior angle measures of a concave pentagon

It can be seen that in 2, 3, 4 asking sum of interior angles

And, in first option asking individual value of interior angle

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As a human resources specialist, you keep track of the number of retiring employees for benefits and hiring purposes. You notice that of the current workforce will retire during next month, and an additional of the current workforce will retire the following month. What fraction of the current workforce is scheduled to retire during the next two months?

Answers

The values and ideals presented in the media, the average retirement age is between 62 and 65. The average retirement age is 64 for a work-life of about 42 years,

What is the value?

Values are the benchmarks or ideals by which we judge the acts, traits, possessions, or circumstances of others. Values that are embraced by many include those of beauty, honesty, justice, peace, and charity.

Not anywhere close to 48 or 52 years. And less than 10% of Social Security recipients get the maximum benefit by claiming at 70, and those that do are the highest-income individuals.

Therefore, By the current workforce is scheduled to retire during the next two months retirement age is 64 for a work-life of about 42 years,

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Use the drawing tools to form the correct answer on the provided graph Consider the piecewise function f(x) {3, x<_-3. 2x + 1, -3 < x < 4. -22, x _> 4

Answers

The graph for the given piecewise function is as provided in image.

What is piecewise function?

A piecewise function is a function f(x) which has different definitions in different intervals of x. The graph of a piecewise function has different pieces corresponding to each of its definitions. The absolute value function is a very good example of a piecewise function. Let us see why is it called so. We know that an absolute value function is f(x) = |x| and it is defined as:

f(x)=(x if x≥0 ,

      -x  if x><0)

We should read this piecewise function as

f(x) is equal to x when x is greater than or equal to 0 and

f(x) is equal to -x when x is lesser than 0.

Given piecewise function

f(x) {3          if x<_-3

      2x + 1   if -3 < x < 4

      -22       if  x > 4

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9. Ignacio can type 55 words per minute (wpm). In 5 minutes, she types 285 words. How many errors would you expect her to make?

10. If Alexis types 300 words in 5 minutes with 5 errors, what is his typing speed?

11. Johanna receives a report that says her typing speed is 65 words per minute. She knows that she made 4 errors in the 5-minute test. How many words did she type in 5 minutes?​

Answers

I'd anticipate her to make the following number of mistakes: 10 mistakes.

How to find the calculation?

Given that it is stated that the individual can write 285 words in five minutes, a division is carried out to determine the real word count per minute.

285 / 5 = 57 wpm

The amount of misspelled words per minute is calculated using a subtraction as it was previously stated that she wrote at a rate of 55 wpm:

57 - 55 = 2

Given that the individual misspells two words per minute, this figure is multiplied by the duration of the measurement (5 minutes) as follows:

2 X 5 = 10

10 misspelled words every five minutes, or two misspelled words each minute.

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ANSWER ASAP FOR BRAINLIEST

Answers

Answer:

(5,1/2)

Step-by-step explanation:

Multiply 5•1/3•1•5/6 simplify the answer and write as a mixed number

Answers

Answer:

1 7/18

Step-by-step explanation:

This is the actual problem that is posted:

5 • 1/3 • 1 • 5/6 =

= 5/1 • 1/3 • 1/1 • 5/6

= 25/18

= 18/18 + 7/18

= 1 7/18

(Look at picture) and ty btw <3

Answers

y <= - 3x - 1 y <= - x - 4 is the graph represents system of inequalities.

What influences an inequality's shading?Shading: You will shade below the boundary line if the sign in a linear inequality is (less than) or (less than or equal to). You will shade over the boundary line if the sign in a linear inequality is > (greater than) or (greater than or equal to).The end of the solution is frequently referred to as this point. The inequality larger than or equal to () or less than or equal to () is represented by a closed, or shaded, circle. The solution includes the destination. For larger than (>) or less than (), use an open circle.

y <= - 3x - 1 y <= - x - 4 is the graph represents system of inequalities.

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Consider the following data set. 6.8, 9.1, 8.7, 7.5, 8.2, 5.4, 6.5, 8.5, 7.3, 6.6, 5.9, 7.3, 9.3, 7.5, 7.8 Calculate the sample standard deviation. Round your answer to 2 decimals as needed.

Answers

The requried standard deviation of the given data set is σ = 1.1005.

What is Statistic?

The statistic is the study of mathematics that deals with relations between comprehensive data.

Here,
For the given data set, 6.8, 9.1, 8.7, 7.5, 8.2, 5.4, 6.5, 8.5, 7.3, 6.6, 5.9, 7.3, 9.3, 7.5, 7.8

Count, N: 15

Sum, Σx: 112.4

Mean, μ: 7.4933

To determine the standard davaition σ,
[tex]\sigma = \sqrt{1/N \sum_{i=1}^N(x_i-\mu)^2}[/tex]

Substitute the value in the above equation,
σ = √[[(6.8 - 7.493)² + ... + (7.8 - 7.493)² ]/15]
σ = 1.1005

Thus, the requried standard deviation of the given data set is σ = 1.1005.

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(Look at picture) and ty btw <3

Answers

Answer: d

Step-by-step explanation:

To solve this question, you have two methods.

One is graphing the inequalities and finding the points that match them, and the other is plugging the values of the points into the inequalities and checking to see if it is true or false.

I chose the latter method for convenience's sake.

The inequalities show that

y<-2x+10

y<1/2x-2

Since this is a multiple-choice question, we only need to plug in the values of the choices. For a student's response question, you'll need to plug in all the points if you use this method.

Let's plug in I.

I is located at (9,3).

So if you plug in the values,

3<-2*9+10 is false.

So a is false.

Next, B.

B is located at (4,7).

7<-8+10 is false.

So b is false.

Next, A.

A is located at (-5,4)

4<10+10 is true.

4<1.2*(-5)-2 is false.

So the answer is d.

Points (1, 2), (3, 6), and (6, 4) are three vertices of a parallelogram. How many parallelograms can be created using these three vertices? Find the coordinates of each point that could be the fourth vertex.

Answers

By using these three vertices we can make three parallelograms.

And, The coordinates of each point that could be the fourth vertex is,

(4, 0)

What is Coordinates?

A pair of numbers which describe the exact position of a point on a cartesian plane by using the horizontal and vertical lines is called the coordinates.

Given that;

Points (1, 2), (3, 6), and (6, 4) are three vertices of a parallelogram.

Cleary, There are three ways we can connect them and that gives us the first angle of a parallelogram. That means there are three parallelograms we can make given three vertices.

And, The coordinates of each point that could be the fourth vertex is,

⇒ (x, y) = (1 - 3 + 6, 2 - 6 + 4)

            = (4, 0)

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six times an integer minus 5 equals the square of the integer

Answers

The value of the the integer is 1 or 5

What is an integer?

An integer is a whole number that can be positive, negative, or zero. Examples of integers are: -5, 1, 5, 8, 97, and 3,043. Examples of numbers that are not integers are: -1.43, 1 3/4, 3.14, . 09, and 5,643.1

Let's represent the integer by x, therefore

six times an integer minus 5 equals the square of the integer can be put into equation as:

6x-5 = x²

x² - 6x +5 = 0

x²-5x - x + 5 = 0

(x²-5x)(-x+5) = 0

x(x-5) - 1 ( x -5) = 0

(x-1)(x-5) = 0

therefore x-1 = 0 or x-5 = 0

x = 1 or 5

therefore the value of the integer can either be 5 or 1

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find the area of the figure below (sides meet at right angles)

Answers

Answer:

d² + df + dg + dh = d(d + f + g + h)

Step-by-step explanation:

Lower rectangle:

length = f + d + h

width = d

Upper rectangle:

length: d

width: g

total area:

d(f + d + h) + dg =

= df + d² + dh + dg

= d² + df + dg + dh

= d(d + f + g + h)

Please help me i do not know

Answers

The graph given is a representation of a two-dimensional coordinate plane, with points A, B, C, D, and E. The question is asking which statements about line n are true. Line n is the line connecting points A and C.

Which statements about line n are true?a) The slope of line n is equal to BC/AC, e) The slope of line n is equal to AE/DE, and f) The slope of line n is equal to AC/AE.The statements about line n that are true are a), b), e), and f). Statement a) is true because the slope of line n is equal to BC/AC, which is the ratio of the vertical change of the line (BC) to the horizontal change of the line (AC).Statement b) is true because the slope of line n is equal to AC/BC, which is the inverse ratio of the slope in statement a).Statement e) is true because the slope of line n is equal to AE/DE, which is the ratio of the vertical change of the line (AE) to the horizontal change of the line (DE).Statement f) is true because the slope of line n is equal to AC/AE, which is the ratio of the horizontal change of the line (AC) to the vertical change of the line (AE).To conclude, the statements about line n that are true are a), b), e), and f).

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(Complete Question: Use the graph below to answer the question. Which statements about line n are true?n Select all that apply.

Ansswer choices:

a) The slope of line n is equal to BC/AC.

b) The slope of line n is equal to AC/BC.

C) The slope of line n is equal to BC/DE.

d) The slope of line n is equal to DE/AE.

e) The slope of line n is equal to AE/DE.

f) The slope of line n is equal to AC/AE.)

Graph this line using the slope and y-intercept:
y=1/8x+6

Answers

A graph of this line using the slope and y-intercept for the linear equation y = 1/8x + 6.

What is the slope-intercept form?

In Mathematics, the slope-intercept form of a line can be calculated by using this linear equation:

y = mx + c

Where:

m represents the slope.x and y are the data points.c represents the y-intercept.

Based on the information provided, we have the following parameters;

Slope = 1/8

y-intercept = 6.

Next, we would use an online graphing calculator to plot the given equation as shown in the image attached below.

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Comparing Fractions ASAP answer (photo attached)

Answers

Answer: see below

Step-by-step explanation:

To do this, we need to get the fractions to have a common denominator. The closest multiple of both 8 and 10 is 40. Whatever number gets both denominators to forty will need to be multiplied by both the numerator and the denominator

9/10 * 4/4 = 36/40

7/8 * 5/5 = 35/40

Now that both denominators are 40, we can compare the numerators to see which fraction is the largest. Since 36 is greater than 35, 9/10 > 7/8. I hope this helps!

What is the value of x2 . y1 when x = 5 and y = 10?

Answers

If it is x2times by y1 I don’t know what . Means in maths but
X2=5^2 so 25
And y1 would be 10
So 25 x 10
Is 250

Each bike rental costs $3.25
$
3
.
25
per hour.

Use the drop-down menus to complete the statements about the bike rentals.

Answers

The equation that represents the total rental cost for 'x' number of hours will be y = 3.25x.

What is a linear equation?

A connection between a number of variables results in a linear model when a graph is displayed. The variable will have a degree of one.

The linear equation is given as,

y = mx + c

Where m is the slope of the line and c is the y-intercept of the line.

Let 'x' be the number of hours and 'y' be the total rental cost. Then the equation is given as,

y = 3.25 x

The equation that represents the total rental cost for 'x' number of hours will be y = 3.25x.

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if BCF ~ BDE, solve for x

Answers

The value of x in the given similar triangles is 10.

What are similar triangles?

Two triangles are similar if they have the same ratio of corresponding sides and equal pair of corresponding angles.

Given are two similar triangles, Δ BCF ~ Δ BDE

We know that, in similar triangles, the ratio of the corresponding sides are in the same proportion,

Therefore,

BC / BD = CF / DE = BF / BE

(56 + 5x - 8) / 56 = (52+39) / 52

(48 + 5x) / 14 = 91 / 13

(48 + 5x) / 14 = 7

48 + 5x = 98

5x = 50

x = 10

Hence, the value for x is 10.

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What is 16/5 as a mixed number

Please help

Answers

Answer:

3 1/5

Step-by-step explanation:

Converting improper fractions into mixed numbers

What is 16/5 as a mixed number? Divide the numerator by the denominator (16 ÷ 5 = 3 R 1). Your answer is the whole number and your remainder becomes the numerator of the fraction next to the whole number, so your answer is 3 1/5.

Have a good day!:)

How many 18-pound servings are in a two-pound bag of shredded cheese?

Answers

Answer:

i think it is 9

Step-by-step explanation:

Dwight offers one-hour piano lessons and one-hour guitar lessons. He works 10 hours a week in all. How many different ways can he divide his time giving lessons in both instruments?

Answers

Although there are 9 different ways in which Dwight can divide his time giving lessons in both instruments, but the most balanced work division is 5 hour piano lessons and 5 hour guitar lessons in a week.

What is work division?

The division of labour is the arrangement of tasks given to and carried out by a team of employees or an individual in an effort to boost productivity. Division of work, commonly referred to as division of labour, is the process of breaking down a job into a variety of smaller tasks that together make up the larger activity.

Dwight offers one-hour piano lessons and one-hour guitar lessons.

The number of hours Dwight works per week = 10 hours

There are many possibilities in which Dwight can divide his work.

Case 1: Dwight can teach 1 hour piano lessons and 9 hour guitar lessons in a week.

Case 2: Dwight can teach 2 hour piano lessons and 8 hour guitar lessons in a week.

Case 3: Dwight can teach 3 hour piano lessons and 7 hour guitar lessons in a week.

Case 4: Dwight can teach 4 hour piano lessons and 6 hour guitar lessons in a week.

Case 5: Dwight can teach 5 hour piano lessons and 5 hour guitar lessons in a week.

Case 6: Dwight can teach 6 hour piano lessons and 4 hour guitar lessons in a week.

Case 7: Dwight can teach 7 hour piano lessons and 3 hour guitar lessons in a week.

Case 8: Dwight can teach 8 hour piano lessons and 2 hour guitar lessons in a week.

Case 9: Dwight can teach 9 hour piano lessons and 1 hour guitar lessons in a week.

Therefore, there are 9 different ways in which Dwight can teach both the lessons.

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Other Questions
how many moles of sodium hydroxide are needed to completely neutralize 50 ml of a 0.2 m solution of hcl? What u.s. state has been the focus of torrential rain, thunderstorms, and wind gusts from atmospheric river events the week? pls help me in this exercise What are the three ethical principles that constitute the basis for the HHS human subjects regulations? What is the solution for 9 > x - 7?A: x 1) The process by ich food i in their fruit. factured in plants is called what should a healthcare worker do immediately after a safety violation occurs? Which of the following statements best explains why Oklahoma is often referred to as "Native America"? For questions 9-10, solve the rational equation.9. The French club has planned a trip to a French restaurant. The cost of the van is$284. When 4 students who are not members of the club join the trip, thetransportation cost per person drops by $8.11. How many club members are goingon the trip? If the monomial is not zero, the product of a monomial and a polynomial will have ___ the polynomial. Write a paragraph describing the main conflict in the story and explaining how it demonstrates different cultural perspectives. "two kinds" by amy tan Write an equation in point-slope form of the line that passes through (-3, -2) and (2, -1). What are the 4 causes of variation? Olivia drives 35 mph for 7.2 hours. How far does she get? if you roll 2, 6-sided die simultaneously, what is the probability of rolling a combined total of 8 or higher? The table shows the results of drawing 44 cards from a deck of 104 game cards. After watch each draw, the card is replaced. Based on the results, what is the chance that a draw result in a wild card? The weight w of a steel frame is 9. 2kg correct to 1 decimal place. Complete the error interval for weight w Who is the new Speaker of the House USA? What services act as a middleman? Sal's Sandwich Shop sells wraps and sandwiches as part of its lunch specials. The profit on every sandwich is $2, and the profit on every wrap is $3, Sal madea profit of $1,470 from lunch specials last month. The equation 2x + 3y = 1,470 represents Sal's profits last month, where x is the number of sandwich lunchspecials sold and y is the number of wrap lunch specials sold.1. Change the equation to slope-intercept form. Identify the slope and y-intercept of the equation. Be sure to show all your work. Describe how you would graph this line using the slope-intercept method. Be sure to write using complete sentences.3. Write the equation in function notation. Explain what the graph of the function represents. Be sure to use complete sentences.4. Graph the function. On the graph, makemay use graphing technology.sure to label the intercepts. You may graph your equation by hand on a piece of paper and scan your work5. Suppose Sal's total profit on lunch specials for the next month is $1,593.The profit amounts are the same: $2 for each sandwich and $3 for each wrap. Ia paragraph of at least three complete sentences, explain how the graphs of the functions ftthe graphs of the functions for the two months are similar and how they are different.