QUESTION 9 1 POINT
Ron will be finishing his payments on his 8-year, $35,000 student loan and wants to know the amount of interest that he
paid over the course of the loan. The student loan has a 3.8% fixed interest rate that is compounded monthly. Calculate the
total amount of interest Ron paid, rounding to the nearest cent.
Provide your answer below:
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Answers

Answer 1

The total amount of interest Ron paid over the course of the loan is approximately $12,220.63.

To calculate the total amount of interest paid on Ron's student loan, we need to use the formula for compound interest. The formula for compound interest is:

A = P(1 + r/n)^(nt) - P

Where:

A is the total amount including principal and interest.

P is the principal amount (loan amount).

r is the annual interest rate (as a decimal).

n is the number of times the interest is compounded per year.

t is the number of years.

In this case, Ron's loan amount is $35,000, the annual interest rate is 3.8% (or 0.038 as a decimal), the loan term is 8 years, and the interest is compounded monthly (n = 12).

Plugging in these values into the formula:

A = $35,000(1 + 0.038/12)^(12*8) - $35,000

Calculating the exponent:

A = $35,000(1 + 0.00316667)^(96) - $35,000

Using a calculator to evaluate the expression within parentheses:

A = $35,000(1.00316667)^(96) - $35,000

Calculating the exponent:

A = $35,000(1.34898777) - $35,000

Subtracting the principal amount:

A = $47,220.63 - $35,000

A = $12,220.63

Therefore, the total amount of interest Ron paid over the course of the loan is approximately $12,220.63.

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Related Questions

There are 16 ounces in 1 pound. Juan is mailing a package that weights 10 pounds. He wants to know the weight of the package in ounces.
Complete the sentence.''

Answers

Answer:

160 ounces

Step-by-step explanation:

Easy mental math.

16oz × 10 pounds = 160 oz

please learn your school work. I know it's boring, but this is actually stuff you'll use in the real world. this is simple 4th-6th grade work. :)

11) A fitness center charges $5per visit, plus an additional monthly fee of $15.
If Rick visits the gym 15 times in a month, how much would it cost him?
If you can do both that would be great

Answers

Answer:

$90

Step-by-step explanation:

15 × 5 = 75

75 + 15 = 90

$90

Answer:

It would cost Rick $90, if he visted the Gym 15 times in a month.

Step-by-step explanation:

15 x 5 =75

75 + 15 =90

A graph of f(x)=10x^2-11x-6 is shown on the coordinate grid.

What are the zeros of f(x)?

-2/5 and 3/2
-6
-9 and 4
11/20 and -9

Answers

Answer:

-2/5 and 3/2

Step-by-step explanation:

f(x)=10x²-11x-6

0=10x²-11x-6

(5x+2)(2x-3)=0

5x+2=0, 2x-3=0

5x=-2, 2x=3

x=-2/5, x=3/2

I need help with this. So, please help!! You shall receive 40 points.

Answers

Answer:

p=6/5

Step-by-step explanation:

p=6/5 or 1.2 or (1 and 1/5)

Steps

Switch sides of equation

Divide both sides by 5

Simplify

Add 2 to both sides

In the exact form p= 6/5 (‘fraction form’), but in a -decimal form- it would be p= 1.2
To take an extra step if the question is asking for anything specific then the *mixed number form* is 1 1/5.

Jeff has a square piece of art paper. He cuts across it from one corner to the opposite corner to make two pieces. What is the total number of sides and angles in both of the new shapes?

Answers

Answer:

The number of sides is 3 on each piece of paper, altogether there are 6 sides.

The total number of angles on a triangle is 180°, altogether the sum of both triangles is 360°

the length of a rectangle is 3 ft less than twice the width and the area of the rectangle is 65 ft squared find the dimensions. ​

Answers

The dimension of the rectangle is 10 by 6.5

How to determine the dimensions?

The given parameters are:

Length, (L) = 2W - 3

Area = 65

The area of a rectangle is:

A = LW

So, we have:

LW = 65

Substitute L =2W - 3

(2W - 3)W = 65

Expand

2W^2 - 3W = 65

Rewrite as:

2W^2 - 3W - 65 = 0

Using a graphing calculator, we have:

W = 6.5

Substitute W = 6.5 in L =2W - 3

L =2 * 6.5 - 3

Evaluate

L =10

Hence, the dimension of the rectangle is 10 by 6.5

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What is the constant?

Answers

Y=5x

Hopefully this is correct

Long before iPhones that hold thousands of songs and play
them with superb audio quality, individual songs were
delivered on 75-rpm and 45-rpm circular records. A 45-
rpm record has an angular speed of 45 revolutions per
minute. Find the linear speed, in inches per minute, at the
point where the needle is 1.5 inches from the record's
center.

Answers

Answer:

Do you mean an MP3 player?

Step-by-step explanation:

The ratio of girls to boys in a boarding school is 2:7,if there are 1251 student in the school, how many of the student are girls​

Answers

278 students are girls in this case.

Answer with explanation is given ......

Solve for x, and angle c

Answers

9514 1404 393

Answer:

  x = 12.75

  ∠C = 51.75°

Step-by-step explanation:

The two marked angles are complementary, so ...

  (5x -12) +(3x) = 90

  8x = 102

  x = 102/8

  x = 12.75

__

C = (5x -12)° = (5(12.75) -12)°

  ∠C = 51.75°

__

Check

E = 3x = 38.25, then C+E = 51.75 +38.25 = 90 . . . . as it should

Dave bought a rental property for $675,000 cash. One year later, he sold it for $700,000. What was the return on his $675,000 investment? (Negative amount should be indicated by a minus sign. Enter your answer as a percent rounded to 2 decimal places.)

Answers

The return on his $675,000 investment is 3.57%.

Given that, Dave bought a rental property for $675,000 cash. One year later, he sold it for $700,000.

We need to find the what was the return on his $675,000 investment.

What is the return on investment?

Return on investment or return on costs is a ratio between net income and investment.

Now, return=700,000-675,000=$25000

Return in percentage=25000/700000×100=3.571%

=3.57%

Therefore, the return on his $675,000 investment is 3.57%.

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whoever gets this correct first gets brainlest

Answers

20 sides is the answer

What is the answer for this is it a B C or D

Answers

Answer:

AB and CD are parallel lines.

hence answer is D

Good day mate

The answer is D :) because if you look at it the parallel lines are AB and CD

Help soon please!!!!!!!

Answers

Answer:

origin-the place at which the horizontal and vertical number lines cross

y-axis- the horizontal number line

x-axis- the vertical number line

quadrant- each of the four quarters of a plane, as it is divided by the number lines

Step-by-step explanation:

they all match up

Leo made the following container to store his camping gear. This container is the shape of a rectangular prism. It has material covering the outside of all six sides.

Answers

Answer:

I know this is probably late but the answer is 52 ft

Step-by-step explanation:

I did the Unit Test

find x, y, and z do not include degrees

Answers

Answer:

x is 64 , y is18 and z is 98

Step-by-step explanation:

these angles are congruent and u get z by adding 64 and 18 then subtracting it for 180 since it makes a straight line

1. Verizon Wireless would like to estimate the proportion of households that use cell phones for their phone service without a land line. A random sample of 150 households was selected and 48 relied strictly on cell phones for their service. Based on the sample, construct a 95% confidence interval for the true proportion of households which rely strictly on cell phones for their phone service.

Answers

Answer:

The 95% confidence interval for the true proportion of households which rely strictly on cell phones for their phone serviceis (0.2453, 0.3947).

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of [tex]\pi[/tex], and a confidence level of [tex]1-\alpha[/tex], we have the following confidence interval of proportions.

[tex]\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}[/tex]

In which

z is the zscore that has a pvalue of [tex]1 - \frac{\alpha}{2}[/tex].

A random sample of 150 households was selected and 48 relied strictly on cell phones for their service.

This means that [tex]n = 150, \pi = \frac{48}{150} = 0.32[/tex]

95% confidence level

So [tex]\alpha = 0.05[/tex], z is the value of Z that has a pvalue of [tex]1 - \frac{0.05}{2} = 0.975[/tex], so [tex]Z = 1.96[/tex].

The lower limit of this interval is:

[tex]\pi - z\sqrt{\frac{\pi(1-\pi)}{n}} = 0.32 - 1.96\sqrt{\frac{0.32*0.68}{150}} = 0.2453[/tex]

The upper limit of this interval is:

[tex]\pi + z\sqrt{\frac{\pi(1-\pi)}{n}} = 0.32 + 1.96\sqrt{\frac{0.32*0.68}{150}} = 0.3947[/tex]

The 95% confidence interval for the true proportion of households which rely strictly on cell phones for their phone serviceis (0.2453, 0.3947).

Find the area of the triangle. around intermediate values to the nearest tenth. Use rounded values to calculate the next value. Found your final answer to the nearest tenth

Answers

The area of the triangle is 97.07 units².

Given is a triangle we need to find the area,

So, let the triangle be ABC and the altitude be AD.

Using the trigonometric ratios,

Sin 52° = AB / AD

Sin 52° = 9 / AD

AD = 9 / Sin 52°

AD = 11.42

Now,

Tan 26° = DC / AD

Tan 26° = DC / 11.42

DC = 5.56

Also,

Cos 26° = AD / AC

Cos 26° = 11.42 / AC

AC = 12.7

BC = 11.42 + 5.56

BC ≈ 17

Now, the sides are BC = 17, AC = 12.7 and AB = 9,

The area of the triangle = 1/2 x BC x AD = 1/2 x 17 x 11.42

= 5.71 x 17

= 97.07

Hence the area of the triangle is 97.07 units².

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I picked the last one by accident but what is the correct answer?

Answers

the third choice because -10 is greater than -14 and greater numbers are more towards the right.

What is 6 divided by 2 ( 1+2 ) = ?

Answers

ANSWER;

6/ 2(1+2)

= 6/ 2(3)

= 6/ 2X3

= 6/6

= 1

Answer:

6 ÷ 2 [1 + 2]

= 6 ÷ 2 + 4

= 6 ÷ 6

= 1

The work of a student to solve the equation 3(3y − 8) = 10 + 3y is shown below:

Step 1: 3(3y − 8) = 10 + 3y
Step 2: 6y − 5 = 10 + 3y
Step 3: 3y − 5 = 10
Step 4: 3y = 15
Step 5: y = 5

In which step did the student first make an error and what is the correct step?

Step 2: 9y − 24 = 10 + 3y
Step 2: 6y + 11 = 10 + 4y
Step 3: 6y − 8 = 3(6 + y)
Step 3: 3(3y − 8) = 7 + y

Answers

Step 2 9y - 24 = 10 + 3y because 3 times 3y its not 6y nor is 3 times 8 equal to 5

A triangle has side lengths of 6,9, and 17. Is this possible or impossible

Answers

Answer:

impossible

Step-by-step explanation:

the formula for triangle sides is a^2 + b^2 = c^2

and these numbers dont equal that

Which of the following will NOT produce a triangle?

a
angle measures of 47°, 58°, 75°

b
angle measures of 61°, 61°, 58°

c
side lengths of 5.5 ft, 11 ft, and 5.5 ft
d
side lengths of 5 in, 7 in, and 8 in

Answers

Answer:

c) side lengths 0f 5.5 ft, 11 ft, and 5.5 ft

Step-by-step explanation:

The two shorter side lengths added together must exceed the longer side length  (and equal to does not work)

Answer:

C) 5.5ft, 11ft, 5.5ft

Step-by-step explanation:

A) 47+58+75 = 180 (Correct)

B) 61+61+58 = 180 (Correct)

C) 5.5+5.5>11 - 11>11  (Incorrect- the two smaller sides must be greater than the largest sides when added together)

D) 5+7>8(Correct)

Help me out
Answer required ​

Answers

Answer:

a) True

b) False

c) True

d) False

e) True

f) False

g) True

h) False

i) True

j) False

plz mark me as brainliest

PLZZZ HELP!!! ASAP
Will mark brainiest :)))

Answers

Answer:

Step-by-step explanation: i wont tell you the answer but ill thell you how to do it,soo the strat is to count where the line is as a different part then u just add em

this is only the explanation how to do it with you want the answer ask in the comment section

Step-by-step explanation:

Answer:

4. 1230

Step-by-step explanation:

A rectangle has parallel sides, so we know two sides are 30. 30+30=60. We subtract 142-60=82. Then we divide by two: 82/2=41. Then you know that both sides are 41 and 30. Multiply, and you get 1230.

ZABC and ZQRS are supplementary angles.
If the measure of ZABC = 140°, what is the
measure of ZQRS?
MZQRS = [?]

Answers

Answer:

m<QRS = 40

Step-by-step explanation:

180 - 140 = 40

The measure of angle m∠QRS which is supplementary to m∠ABC is determined as 40⁰.

What is a supplementary angle?

A supplementary angle is a pair of angles that add up to 180 degrees.

That is to say, if we have two angles and their measures sum up to 180 degrees, then they are supplementary angles. Each angle in a supplementary pair is called the "supplement" of the other angle.

The measure of angle QRS is calculated by applying the following formula as follows;

m∠QRS + m∠ABC = 180 (supplementary angles add up to 180)

m∠QRS + 140 = 180

m∠QRS = 180 - 140

m∠QRS = 40⁰

Thus, the measure of angle m∠QRS which is supplementary to m∠ABC is determined as 40⁰.

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Naming with the vertex only won't work when there are multiple angles with the same vertex. True or False?

Answers

True
Extra characters

Which of the following equations have a solution of y = 8

Answers

Answer:

B

Step-by-step explanation:

Plug in 8 for y in each equation to see if it's true

6+5(8)=46

6+40=46 ✔️

40 POINTS !! 40 POINTS !!

PLEASE HELP , DONT SKIP !

NO LINKS OR FILES.

Answers

Answer:

you --> they

Step-by-step explanation:

The pronoun "you" is incorrect since it should be 'they'.

It has to be 'they' instead because it doesn't talk to the reader, it talks about the canditates.

Need the answer to x and y !

Answers

x = 2 y = 7

Step-by-step explanation:

the explan at the pic

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