Suppose that you borrow ​$11000 for 4 years at 6​% toward the purchase of a car. Find the monthly payments and the total interest for the loan.

Answers

Answer 1

Answer:

The monthly payments ≅ $258.335

The total interest of the loan ≅ $1400.095

Step-by-step explanation:

The rule of the monthly payments is

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

P is the initial amountr is the rate in decimaln is the period in a yeart is the number of years

∵ You borrow ​$11000

P = 11000

∵ It will be for 4 years

t = 4

∵ The rate is 6%

r = 6% = [tex]\frac{6}{100}[/tex] = 0.06

∵ It is a monthly payment

n = 12

→ Substitute these values in the rule above

∴ [tex]M.P=\frac{11000(\frac{0.06}{12})}{1-(1+\frac{0.06}{12})^{-12(4)}}[/tex]

→ Use your calculator to find the answer

∴ M.P = 258.3353195

The monthly payments ≅ $258.335

→ The total interest of the loan is the difference between the total

   of the monthly payments and the initial amount

The total interest of the loan = T.M.P - P

The total of the monthly payments = M.P × t × n

∴ The total of the monthly payments = 258.3353195 × 4 × 12

The total of the monthly payments = $12400.09534

∵ The initial amount P = $11000

∴ The total interest of the loan = 12400.09534 - 11000

∴ The total interest of the loan = 1400.095

The total interest of the loan ≅ $1400.095


Related Questions

A 33 pound bag of grass seed holds 2 pounds less than 5 smaller bags of seed. Find the weight of the smaller bag of seed.

Answers

A 33 pound bag of grass seed has = 2 pounds less than 5 smaller bags of seed

= 33 pounds = 2 pounds less than 5 smaller bags

Let the weight of smaller bag of seed be ' x ' . Then ,

= 33 = 5x - 2

= 5x -2 = 33

= 5x = 33 + 2 ( transposing -2 from LHS to RHS changes -2 into +2 )

= 5x = 35

= x = 35 ÷ 5 ( transposing ×5 from LHS to RHS changes ×5 to ÷5 )

= x = 7 = weight of smaller bag of seed

Then , the weight of smaller bag of seed will be 7 pounds . Let us check it by putting 7 in the place of x :

= ( 5 × 7 ) - 2 = 33

= 35 - 2 = 33

LHS = RHS

Therefore , the weight of of smaller bag of seed is 7 pounds .

Change the given equation into slope-intercept form:
1. - 2 + y = -x

Answers

rearrange the equation, so it would be y = -x+2

you want to give it into a y=mx+b form

PLEASEEE HELP FAST! One solution each is given on four quadratic equations. Assuming that each quadratic equation has two solutions, what is the second solution for each equation?

Answers

Answer:

Step-by-step explanation:

If one solution of a quadratic equation is a complex number (a + bi),

Other solution of the equation will be the conjugate of the first solution.

So the other solution will be in the form of (a - bi)

If one solution is, x = -4 - 5i

Other solution will be, x = -4 + 5i

If one solution is, x = 4 + 5i

Other solution will be, x = 4 - 5i

If one solution is, x = 5 - 4i

Other solution will be, x = 5 - 4i

Select all the expressions that have a value of 180 when b=4

Answers

45


Can you tell me if there are a word bank of answers and I can tell there are more then one answer so ima need more information

PLEASE HELP ME!!! THIS IS URGENT!!! DUE IN 5 MINUTES!!!
LOOK AT THE IMAGE

Answers

Answer:

1,5

Step-by-step explanation:

You purchase 20 lottery tickets, for which the probability of winning some prize on a
single ticket is 1 in 20. What is the probability that you will have at lease one winning
ticket among the 20 tickets?

Answers

It is 20 hgjcybfjcgnjjjhhh

HELP ASAPPPP
What is the equation of this graphed line? If the line passes through (-6,-3) and (6,-7)

Answers

Answer:

y= -1/3x - 5

Step-by-step explanation:

Answer:

The answer would be y=-1/3x-7.

Step-by-step explanation:

Using the formula y2-y1/x2-x1 to find the slope of the line, plug in the numbers and you will get a slope of -1/3. Now using the the formula y-y1=m(x-x1) and plug in the numbers, and you will get the equation y=-1/3x-7.

Which of the following correctly describes the sum below

A. Rational
B. Both Rational and Irratiinal
C. Irrational
D. Neither rational nor irrational. T.I.A

Answers

Answer:

rational

Step-by-step explanation:

Answer:

A rational because it is

playstation or xbox be smart​

Answers

Xbox and PlayStation both have their own good features but Xbox wins overall against PlayStation in specs, games, graphics, streaming, remote play, UI and basically everything.

I have played both btw

Any arguments in the comment section

Answer:

Depends

Step-by-step explanation:

If you want better exclusives get a playstation.

UI the playstation UI is better because it is simple.

Game subscriptions. xbox game pass subscription is better because it has more games and most games get released on game pass as soon as they release.

Am I right please helppppppppppppppppp

Answers

slope is the change in y over the change in x.

Using the first and last values:

Slope = (8 - -4)/ (2 - -2)

Slope = 12/4

Slope = 3

Your answer is correct

2gh – (3 + 7) + x/4

Choose 3 answers

Answers

Answer:2182

Step-by-step explanation:

Math
What is the number of solutions in this system?

No solution

Infinitely many solutions

One solution

Answers

Answer:

should be Infinitely many solutions

Step-by-step explanation:

The function y=30x represents the distance in miles, y, a car travels after x hours.

Answers

Answer:

first option

Step-by-step explanation:

Answer:

A. The total distance the car travels in miles between hours 3 and 7.

Step-by-step explanation:

I took the test!

Today 4 friends went out for lunch. Their total bill was $24.80, including tax and gratuity. They decided to split the bill equally and each paid with a $10 bill. How much money will each person get back

Answers

Answer:

each person would getb3 dollars back

Step-by-step explanation:

since each friend pays $10 and there are 4 friends the total is 40 but now you have to do $40.00 minus $25.00 because of tax and gratuity so when you do that you get $15.00 now you have to do 15 ÷ 4 and that equals $3.75 and since you cant divide 75 coins to 4 people we dont add that but now you have your answer each friend gets $3.00

Complete the input-output table for the function
y= 4+ [2 – 41 – 4
Input
Output
-2
-1
0
1
2

Answers

Answer:

-257

Step-by-step explanation:

If you do this question I will give you brainlest I know the right Awnser just want to test you help me out and I’ll give you brainlest and points

Answers

3% Although I'm probably wrong.

Answer:

13 - 10 = 33 & 13The proportion, x = 23.

Step-by-step explanation:

13 (i.e 100%) - 10 (i.e 77%) = 3 (i.e 23%)difference is 3 & original amount is 13The proportion, x = 23%

What is the distance between 4.5 and 3.75

Answers

Answer:

0.75

Step-by-step explanation:

x/2.4+39=239
show work

Answers

Answer:  x = 480

Steps: x/2.4 + 39 = 239

Subtract 39 from both sides: x/2.4 + 39 - 39 = 239 - 39

Simplify: x/2.4 = 200

Multiply both sides by 2.4: x/2.4  ×  2.4 = 200 ×  2.4

Simplify: x = 480

Plz mark brainliest:)

12÷ 1/5 how to solve this problem​

Answers

Answer: 60

Step-by-step explanation:

A 12-ounce sports drink costs 0.96 and a 16-ounce sports drink costs $1.12. Which size is the best
buy? How much cheaper is it? Ratios

Answers

Answer:

It is better to buy the 16-ounce drink and it is 0.01 cent cheaper

Step-by-step explanation:

We have to find out how much each sports drinks cost per ounce.

0.96 ÷ 12 = 0.08 per ounce

1.12 ÷ 16 = 0.07 per ounce

It is better to buy the 16-ounce drink and it is 0.01 cent cheaper

Hope this Helps! :)

Have any questions? Ask below in the comments and I will try my best to answer.

-SGO

A certain list contains 11 consecutive multiples of 3.
The first number is 21. What is the middle number?

Answers

Answer:

If this set contains an odd number of elements, say, 3, 6 and 9, then median of a set will ... as well as the mean of this set, will equal the mean of the two middle elements. ... the statement (1) says: All members of S are consecutive multiples of 3 ... I think the right answer is C, since 9 + 12 + 15 + 18 + 21 = 75

Step-by-step explanation:

We can't write every number as a sum of consecutive numbers - for example, 2, ... the sum is an odd number, e.g. 1+2=3 2+3=5 3+4=7 4+5=9 5+6=11 6+7=13 ... Some spotted a similar pattern for multiples of 3. ... If you add any 3 consecutive numbers together it will always equal a multiple of 3, e.g. ... 1+2+3+4+5+6=21

Answer:

36

Step-by-step explanation:

11 multiples of 3 starting from 21 - 21, 24, 27, 30, 33, 36, 39, 42, 45, 48, 51

21 is the first

51 is the last

36 is in the middle

-4x-6=-3x-10
solve for x

Answers

X=4
Pls mark brainliest

Answer:

-4x-6 = 3x-10

-4x-3x= -10+6

-7x= -4

x= -4/-7

x= 4/7

How many significant figures are in the number: 0.00029

Answers

Answer:

coochie

Step-by-step explanation:

When the teacher asked Henrietta which is bigger 0.8 or 0.64, Henrietta said 0.64 because “it represents 64 of the hundredths, rather than only 8 of them” what do you think of Henriettas explanation?

Answers

Answer:

Henrietta is incorrect

Step-by-step explanation:

Start in the tenths place and notice that 8 is greater than 6. This makes 0.8 greater than 0.64

You don't need to consider the hundredths place value unless both numbers in the tenths are the same.

rjfkdmfmfmfmfmggmgm​

Answers

Answer:

same

Step-by-step explanation:

find the value of x.
(6x+8)
(7x-7)

Answers

Answer:

ITS 95

Step-by-step explanation:

TRY CALCULATING IT

sorry i don't know

sbhwgwvhwhev

All six digits in the number are even one digit is used twice all other digits are used once the ones digit is 4 times the hundreds digit the tens digit id the difference of the ones digit and hundreds digit the same digit is in the tens place and hundreds thousands place the thousands digit is not zero

Answers

Answer:

rffrefr

Step-by-step explanation:

Leti has just received a $15.00 gift card to Late, Late, Coffee for her birthday. Leti buys a small coffee each day. The total cost of the coffee is $1.50 including tax. The relationship between the coffee that Leti buys and the gift card can be modeled by a linear function y=15-1.50x. What is the initial value and what does it represent in the context of this problem?

Answers

Answer:

the initial value is 15 and it represents the y-intersect in the context of this problem

Step-by-step explanation:

15 initial value it is correct

A fruit salad recipe calls for 3/4 pound of apples and 2/5 pound of dates. What is the least common denominator of the fractions?
(1 Point)

Answers

Answer:

20

Step-by-step explanation:

because 4x5 equals 20

Round 125000 to 3 decimals!

Answers

12.50000 is the answer

Answer:

1.25 is your answer, Since the zeros are just place holders

Step-by-step explanation:

hope this helps!

Have a good day.

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