am is paying off his eight-year, $15,360 loan in semiannual installments. The loan has an interest rate of 9.58%, compounded semiannually, and a service charge of $1,294.64. Once the loan has been fully paid off, what percentage of the total finance charge will the service charge be? Round all dollar values to the nearest cent.
a.
5.48%
b.
8.43%
c.
18.55%
d.
15.65%



Please select the best answer from the choices provided


A
B
C
D

Answers

Answer 1

The percentage of the total finance charge on the loan that the service charge will be is about 15.65%. Option D is correct.

D. 15.56%

What is a loan?

A loan is an item borrowed for a charged amount, such as an amount borrowed to be repaid with a specified interest fee.

The compound interest formula for the semiannual interest rate is presented as follows;

A = P·[1 + R/n]^(n·t)

Where;

P = The initial amount borrowed on loan = $15,360

t  = The interest rate on the loan = 9.58% = 0.0958

n = The number of periods in a year = 2 for semiannual interest rate

t = The duration of the loan = 8 years

The equal semi annual installment (ESI) formula is presented as follows;

[tex]ESI = P\times \dfrac{\dfrac{r}{2} \times\left(1 + \dfrac{r}{2} \right)^n }{\left(1+\dfrac{r}{2} \right)^n-1}[/tex]

Therefore;

ESI = 15360 × ((0.0958/2)×(1 + 0.0958/2)¹⁶)/((1 + 0.0958/2)¹⁶-1) ≈ 1396.16

The total amount Sam pays = 16 × 1396.16 ≈ 22338.6

The finance charge ≈ 22338.6 - 15360 = 6978.6

The percentage of the finance charge represented the service charge is therefore;

(1294.64/(6978.6 + 1294.64))×100 ≈ 15.65%

The percentage of the total finance charge represented by the service charge is therefore about 15.65%

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Related Questions

Flying against the wind, an airplane travels 4720 kilometers in 8 hours. Flying with the wind, the same plane travels 4040 kilometers in 4 hours. What is the rate of the plane in still air and what is the rate of the wind?​

Answers

The rate based on the information will be 590 kilometers per hour and 1010 kilometers per hour

How to calculate the rate?

Rate in Mathematics simply demonstrates how many times one number can be able to fit into another number. It should be noted that rate contrast two numbers by dividing them. In this case, A/B will be the formula if one is comparing one variable (A) to another variable (B).

Since the an airplane travels 4720 kilometers in 8 hours. The rate is:

= 4720 / 8

= 590 kilometers per hour

Flying with the wind, the same plane travels 4040 kilometers in 4 hours. The rate will be:

= 4040 / 4

= 1010 kilometers per hour

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The Lateral Area of a cylinder is 8II square feet and its height is 4 ft. Find the radius,
O 12
08
0 1
03

Answers

9514 1404 393

Answer:

  C.  1

Step-by-step explanation:

The lateral area is given by the formula ...

  LA = 2πrh

Filling in the given values, you have ...

  8π = 2π·r·4

  1 = r . . . . . . . . divide by the coefficient of r

The radius of the cylinder is 1 foot.


(Will give branliest if correct)
Mr. Potter is reviewing his 2018 property taxes Use the tax form to complete the statements below.
All I need is the total property tax I don't know how to solve for it.
So my question is how do I find total property tax with the total value of property and total percent rate it just the answer.

So if the total value is 300000
and the percent rate is 1.2 what is the total property tax.
(​

Answers

Answer:

I think its 3,600... plz let me know if I'm wrong

Step-by-step explanation:

300,000 x 0.012 or %1.2 (they're the same thing) = 3,600

Use Special Triangle Shortcuts to find the values of x and y in the first figure. Explain how you determined the length of segments x and y using 2-3 sentences or explain your steps used to find the values.

Answers

Answer:

Solution given:

short cut to find x

Tan 30°=P/B

Tan30°=x/22√3

x=tan 30×22√3

x=22

and

for y

cos 30=B/H

cos30×y=22√3

y=22√3/cos30

y=44

A small business celebrates serving 5110 customers in their first year of business how many customers did they average each day

Answers

The no. of customers they serve per day is equal to 14.

It is given that the total number of customers served in first year of business was 5110.

We have to find that what will be the average of servings per day ?

What do you mean by average ?

The average is the ratio of sum of all numbers to the total no. of numbers.

As per the question ;

Total number of people served in a year = 5110

We know that ;

1 year = 365 days

So ;

To calculate the average of servings per day we need to divide total number of servings by no. of days in 1 year.

i.e.,

Average of customers per day ;

= 5110 ÷ 365

= 14 customers per day

Thus , the no. of customers they serve per day is equal to 14.

Solve the simultaneous equations
3x + 5y = 21
3x – y=3

Answers

Answer:

Using substitution method

x=2

y=3

Plz answer this i need help its done today

Answers

Answer:

1) 1/10

2) 1/2

3) 1/5

Step-by-step explanation:

1)

1 favorable outcome and 10 total outcomes.

[tex]P(3) = \frac{1}{10}[/tex]

2)

5 favorable outcomes and 10 total outcomes

[tex]P(even) = \frac{5}{10} = \frac{1}{2}[/tex]

3)

2 favorable outcomes and 10 total outcomes

[tex]P(multiples\ of\ 5) = \frac{2}{10} = \frac{1}{5}[/tex]

What is 22 + 125 - 6

Answers

Answer:

141

Step-by-step explanation:

calculator

Answer:

141

Step-by-step explanation:

22+125=147

147-6=141

therefore

the answer is 141

In this article, Attitudes About Marijuana and Political Views (Psychological Reports, 1973), researchers reported on the use of cannabis by liberals and conservatives during the 1970s.
To test the claim (at 1% significance) that the proportion of voters who smoked cannabis frequently was lower among conservatives, the hypotheses were:
H0:p1−p2=0(p1=p2)
Ha:p1−p2<0(p1 In the hypothesis test about cannabis use by conservatives and liberals, the test statistic was z = -4.27, with a corresponding p-value of about 0.00001.
Which conclusion is most appropriate in the context of this situation?

Answers

Answer:

The pvalue of the test is 0.00001 < 0.01, which means that we have sufficient evidence to conclude that the proportion of voters who smoked cannabis frequently was lower among conservatives than liberals.

Step-by-step explanation:

We test:

If the proportion of voters who smoked cannabis frequently was lower among conservatives than liberals.

Corresponding p-value of about 0.00001.

The pvalue of the test is 0.00001 < 0.01, which means that we have sufficient evidence to conclude that the proportion of voters who smoked cannabis frequently was lower among conservatives than liberals.

A woman has 31 coins in her pocket, all of which are dimes and quarters. If the total value of the coins is $ 5.20, how many dimes and how many quarters does she have?

Answers

Answer:

D+Q = 31

10D + 25Q = 595

10D + 10Q = 310

subtract to get

15Q = 285 Q = 285/15 = 19 quarters D = 31-19 = 12 dimes

A carpentry tool has replaceable hexagonal heads. The diagram below shows the replaceable head. *Picture not drawn to scale What is the area of the replaceable head? Round to the nearest hundredth, if necessary. A. 13.59 square inches B. 12 square inches C. 15 square inches D. 17.81 square inches

Answers

Answer:

Step-by-step explanation:c 15

The following equations define a system. −2x + y = 10 x + 2y = 5 Which graph represents the system? The graph shows a line that passes through negative 5 comma 0 and 0 comma 2.5. There is a second line that passes through 0 comma 10 and 5 comma 0. The lines intersect at 3 comma 4. The graph shows a line that passes through negative 5 comma 0 and 0 comma 10. There is a second line that passes through 0 comma 2.5 and 5 comma 0. The lines intersect at negative 3 comma 4. The graph shows a line that passes through negative 5 comma 0 and 0 comma negative 2.5. There is a second line that passes through 0 comma negative 10 and 5 comma 0. The lines intersect at 3 comma negative 4. The graph shows a line that passes through negative 5 comma 0 and 0 comma negative 10. There is a second line that passes through 0 comma negative 2.5 and 5 comma 0. The lines intersect at negative 3 comma negative 4.

Answers

The graph of the system of linear equations is attached with the answer.

What is the general equation of a straight line?

The general equation of a straight line is -

y = mx + c

{m} - slope.

{c} - intercept along the y - axis.

Given is the system of linear equations as given -

- 2x + y = 10

x + 2y = 5

The given system of linear equations is -

- 2x + y = 10

x + 2y = 5

Refer to the graph of the system of linear functions attached. The point (-3, 4) is the solution set of this system of equation.

Therefore, the graph of the system of linear equations is attached with the answer.

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Need help ASAP 10 points right now plz help

Answers

Answer:

Area is 195 in

Step-by-step explanation:

I did this assignment :D

I believe the area is 195 inches may be wrong

Given: AD bisects angle A.
Prove: ADB = ADC

Help immediately please.

Answers

Answer:

Given: AD bisects ∠A

prove: ΔABB ≅ Δ ADC

------------------------------------

statements :                          Reason:

1) AD bisects ∠A                     1- Given

2)∠CAD ≅ ∠BAD                 2- Definition of bisector.

3) AD ≅ AD                             3- Reflexive property of congruence.

4) ∠CDA ≅∠BDA                 4- Right angle( from figure).

5) ΔADB ≅ Δ ADC                  5- ASA

[tex]---------------[/tex]

hope it helps...

have a great day!!

F(x)=2 sin (1/2x)+1
What is the midline of the functionless

Answers

Answer: 4

Step-by-step explanation:

Let me get to know you:)

There is a raffle for the class of 30
students. There are 3 prizes that are gift
cards for the value of $5, $10 and $25.
How many ways can there be 3 winners of
this raffle?

Answers

Answer:

Having 3 students pick a raffle

Step-by-step explanation:

PLEASE HELPPPPPP!!!!! WILL GIVE BRAINLIEST

Answers

Answer:

Since the leading coefficient is negative and the exponent is to a degree of 4...

The graph will be down on both ends.

what is the explicit formula for this sequence?
-8,-3,2,7
A)an=12+(n-1)5
B)an=-8+(n-1)5
C)an=5+(n-1)(-8)
D)an=-8+(n-1)(-5)

Answers

Answer:

3,2,7

A)an=12+(n-1)5

B)an=-8+(n-1)5

C)an=5+(n-1)(-8)

D)an=-8+(n-

Find the product of -2, -4, -6, and , -9

Answers

Answer:

product is 432

Step-by-step explanation:

(-2)(-4)=8

(-6)(-9)=54

(8)(54)=432

Use the first five terms of the exponential series of ex and a calculator to approximate the value of e0.8 to the nearest hundredth.
a.
2.24
c.
4.24
b.
2.22
d.
4.22

Answers

The answer should be C

Answer:

.632

6 * 1/10 = 3/5

3*0.01 = 0.03

3/5 + 0.03 = .63

2*0.002 = .002

.63 + 0.002 = .632

Step-by-step explanation:

Im just guessing but i think it would be b... if i'm wrong im really sorry

Round 0.25773438 to the nearest hundredth

Answers

Answer:

The answer is 0.26.

I wish you luck on your assignments.

Answer: 0.26

Step-by-step explanation:

1. The hundredths place is two digits from the decimal point

2. Look at the thousandths place and if it is larger or equal to 5 then we round up, otherwise we round down and the hundredths digit remains the same

3. 7 is larger than 5 therefore the hundredths place digit of 5 rounds to a 6

4. Our final answer is 0.26

6 divided 109 can you help?

Answers

Answer: 18.1666666667

Step-by-step explanation:

ANSWER ASAP WILL GIVE BRAINLIEST! 30 POINTS!!
Write the algebraic expression that matches each graph:

Answers

Answer:

y=|x-1|-1

Step-by-step explanation:

hope that helps :)

Jessle served 11 pints of orange Juice at her party. How many quarts of orange juice did she serve?​

Answers

5.5 quarts


(Divide the volume value by 2)

In the formula C = (F - 32) * 5/9, the letter "F"

Answers

Answer:

Fahrenheit.

Step-by-step explanation:

In the given formula, the variables given stand for:

C = Celsius

F = Fahrenheit

~

In this case, you plug in the temperature in Fahrenheit into F, and then use the equation to obtain the temperature in Celsius.

~

Work out
a) 4 1/3x6
B) 2 3/5 x 3 1/3


Give Answers as mixed numbers

Answers

Answer:

Solution of the given expression is 26

Solution of the given expression is 8.67

Step-by-step explanation:

Given:

a] [tex]4\frac{1}{3} \times 6[/tex]

b] [tex]2\frac{3}{5} \times 3\frac{1}{3}[/tex]

Find the solution;

Computation:

a] [tex]4\frac{1}{3} \times 6[/tex]

Step 1 ;

Changed mixed fraction into simple fraction

⇒ 13/3 x 6

Step 2 ;

⇒ 13 x 2

26

Solution of the given expression is 26

b] [tex]2\frac{3}{5} \times 3\frac{1}{3}[/tex]

Step 1 ;

Changed mixed fraction into simple fraction

⇒ (13/5) x (10/3)

Step 2 ;

⇒ 130 / 15

8.67

Solution of the given expression is 8.67

Find x, y, mzC, and mA' given m/A = y;
m/A' = 2x + 5, mc-3x-y,
mZC' = 4

Answers

The value of x = 9, y = 4, m∠C = 25 and m∠A' = 23.

What is the triangle translation?

In mathematics, a triangle translation refers to the geometric transformation in which a triangle is moved to a new position without rotating or scaling it. The triangle is simply slid along a straight line in a certain direction, and the new position of the triangle will be parallel to the original one.

Given that ΔABC translates to ΔA'B'C', we can assume that the measures of the angles are the same in both triangles. Therefore, if we know the measure of an angle in one triangle, we can assume that the measure of the corresponding angle in the translated triangle is the same.

Given:

m∠A = y

m∠A' = 2x + 5

m∠C = 3x-y

m∠C' = 4

Since opposite angles in a rectangle are congruent, m∠A=m∠C' and m∠C = m∠A'

Therefore,

y = 4

3x-y = 2x + 5

Solving this equation gives us:

x = y + 5 = 4 + 5 = 9

y=4

m∠C = 3x - y = 3(9) - 4 = 25

m∠A' = 2x + 5 = 2(9) + 5 = 23

Hence, the value of x = 9, y = 4, m∠C = 25 and m∠A' = 23.

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Select the correct answer

Answers

The domain of the given graph is (-∞ < x < ∞)

What is the domain of a function?

The domain of a function is the set of values that we are allowed to plug into our function. This set is the x values in a function such as f(x).

Given is a graph,

For f(x) = x, there is no restriction on x

Both the domain and range are the set of all real numbers.

Hence, The domain will be (-∞ < x < ∞)

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A group of workers can plant 49 acres in 7 days. What is there rate in acres per day?

Answers

Answer:

Step-by-step explanation:

343

Answer:

7

Step-by-step explanation:

step by step pls not only one thing

Answers

9514 1404 393

Answer:

  C

Step-by-step explanation:

These are not line plots; they are dot plots. Each dot (×) represents one data point. The dot is placed above the corresponding value on the horizontal axis. There are 7 data points, so should be 7 dots. 3 of the data points are 3/4 hour.

Only plots C and D show 7 data points. Only plot C shows three of those data values being 3/4 hour. Plot C is the correct choice.

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