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Related Questions
Nellie has a bankruptcy on her credit report and therefore pays higher interest rates on her current loans. She took out a car loan for $45,000 payable for 6 years at an interest rate of 15%. If she had not applied for bankruptcy, she would have been able to take out the loan at a rate of 6%. Approximately how much more in interest over the life of the loan does Nellie have to pay? a. $68,510.16 b. $53,696.16 c. $32,206.32 d. $14,814.00
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Using simple interest, it is found that she has to pay $24,300 more in interest.
The amount of money after t years, in simple interest, is given by:
[tex]A(t) = P(1 + kt)[/tex]
In which:
P is the principal.k is the interest rate, as a decimal.t is the time, in years.In this problem:
Loan of $45,000, thus [tex]P = 45000[/tex].6 years, thus [tex]t = 6[/tex].The amount with 15% interest is:
Here, [tex]k = 0.15[/tex]
[tex]A(6) = 45000[1 + 0.15(6)] = 85,500[/tex]
The amount with 6% interest is:
Here [tex]k = 0.06[/tex].
[tex]A(6) = 45000[1 + 0.06(6)] = 61,200[/tex]
The difference is:
85,500 - 61,200 = 24,300
She has to pay $24,300 more in interest.
A similar problem is given at https://brainly.com/question/24989537
Answer:
I cracked the code on my journey to find the correct answer to this problem
The answer is D or $14,814.00
Step-by-step explanation:
This is more than simple interest, this is something to do with amortization
this is a monthly payment calculator for a car loan
[tex]A=p\cdot\frac{\left(r\left(r+1\right)^{n}\right)}{\left(\left(1+r\right)^{n}-1\right)}\\[/tex]
This isn't exactly what we are looking for since we aren't looking for monthly payments but this can still help.
So our variables are [tex]p=45,000[/tex], where p is for principle
r is the loan rate in monthly terms or divide the interest by 12 which is [tex]r=0.0125[/tex] for when 15% is interest and [tex]r=0.0005[/tex] when 6% is interest.
and n is years times 12 or monthly periods involved so [tex]n=72[/tex]
so our equation is [tex]45000\cdot\frac{\left(0.00125\left(0.00125+1\right)^{72}\right)}{\left(\left(1+0.00125\right)^{72}-1\right)}[/tex]
which is equal to 951.53
This number is our monthly payment
so for the full cost is [tex]951.53*12*6[/tex]
that equals 68510.16
now for when interest is equal to 6%
[tex]45000\cdot\frac{\left(0.0005\left(0.0005+1\right)^{72}\right)}{\left(\left(1+0.0005\right)^{72}-1\right)}[/tex]
this is equal to [tex]745.78*12*6[/tex]
so for the full cost is
so the extra interest is equal to the larger number minus the smaller one
[tex]68510.16-53696.16[/tex]
which equals
14,814.00 exactly
*mic drop
Find the equation of the line in slope-intercept form with a
slope of 4 containing the point (-3,2)
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Answer:
y = 4x + 14
Step-by-step explanation:
y-intercept: 2 - (4)(-3) = 2 + 12 = 14
y = 4x + 14
Marty has a scale model of a car. The scale is 1 in. : 32 in. If the model is 6.75 in. long, how long is the actual car?
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Answer:
216 inches or 18 feet
Step-by-step explanation:
6.75*32=216 inches or 18 feet
Look at the picture. Please just look at the picture and then answer it.
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Answer:
It's not quite clear from my side
Step-by-step explanation:
because I am having Internet connection problems and my phone is not functioning properly
Does the Tilt of the Earth's axis shine on different latitudes at different angles throughout the Year?
True
False
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True
Step-by-step explanation:
cause the tint of the earth's axis dose shine on different latitudes at different angles throughout the year
Bonus: Give the nth term for the sequence below:
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Answer: 256×4=1024
Next item is determined by recognizing how the previous items are
calculated.
1
1×4=4
4×4=16
16×4=64
64×4=256
256×4=?The next item is
256×4=1024
The average height of 3 boys is 130 cm. If the shortest boy is 120 cm tall, how tall could the tallest boy be? (BTW average = Mean) fast please!!
Answers
Answer:
ghjghhhgghghh
Step-by-step explanation:
Answer:
130
Step-by-step explanation:
Somebody help me please
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Answer:
A and C ....................................
Answer:
the answer is :a and c
Step-by-step explanation:
i did it
only 23 please. And you can get 50 points
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Step-by-step explanation:
Having built a graph, we can immediately understand that this is a linear functiony=kx+bHaving built a graph, we can immediately understand that this is a linear functiony=kx+bIn order to determine which rule the function follows, it is only enough for us to know the coordinates of only two points, let them be points (-3 ; 8 ) and (-2 ; 3 ) Substitute the values of x and y into an unknown function y=kx+b [tex]\displaystyle \large \boldsymbol {} \left \{ {{-3k+b=8} \atop {-2k+b=3 }} \right.=> -k=5=>k=-5 \ \ ; \ \ b=3+2k=-7[/tex]Then we get the function :
[tex]\large \boldsymbol {} \displaystyle y=-5x-7[/tex] The graph in attached file
[tex]\large \boldsymbol{}[/tex]
11. What is the range of the function graphed on
the grid? TEK 2A
PLZZZZ HELPPPPP ITS DUE ON THURSDAY!!!!
LOOOK AT THE PHOTO
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The range of function graphed above is :
[tex] \{y| - 3 \leqslant y \leqslant 4 \}[/tex]
Help ASAP brainliest
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Answer:
you are correct
because when you add and calculate All the answers you will know it is correct
[tex]\frac{1}{4} (x-3)=3x-\frac{1}{4}x-3[/tex] does this equation have a solution
Answers
which expression is not equavilent to 50x+20?
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Answer:
First choice 4(15x + 5)
Step-by-step explanation:
Let's check them all (We checked 2)
1)
4(15x + 5)
->
60x + 5
1 does not equal 50x + 20
2)
2(25x + 10)
->
50x + 20
2 does equal 50x + 20
please help me with number four
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-5s-5x+5 s 50
solve this
Answers
-5s-5x+5s+50 Combine like terms
5x+50
Answer:
[tex]{ \tt{ - 5s - 5x + 5s = 50}} \\ \\ { \tt{ - 5x = 50}} \\ \\ _\hookrightarrow \: ^{ \rm{answer}} \\ { \tt{x = - 10}}[/tex]
Solve for the value of r.
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Answer:
[tex]r = 9[/tex]
Step-by-step explanation:
[tex](6r + 4) = (7r - 5) \\ 7r - 6r = 4 + 5 \\ r = 9[/tex]
What are the answers for 1 through 4?? if you know you'll get brainliest.
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Answer:
Give me the brainlest, please?
Step-by-step explanation:
1. What is the solution to the equation 3(x - 2)= 15?
Answers
Answer:
X=7
Step-by-step explanation:
Answer:
x=7
Step-by-step explanation:
3x-6=15
3x-6+6=15+6
3x=15+6
3x = 21
---- ----
3 3
x=7
Please help I don't understand this!
Answers
Answer:
5
Step-by-step explanation:
you have to look at the temperature in the picture and look at how it slopes down and predict.
Which is the better buy?
A 450 g box of cereal for $4.69 or a 600 g box of cereal for $6.49?
Please show ALL of your work.
hint: convert each to a unit rate using "cost / gram", then compare each to see which is cheaper.
Answers
Answer: The first box (the 450 g box for $4.69)
===========================================================
Explanation:
To get the unit cost, we'll divide each price by the weight
The first box has a unit cost of (4.69)/450 = 0.010422 approximately which rounds to 0.01; so this unit cost is approximately $0.01 per gram or 1 cent per gram.
For the second box, its unit cost is (6.49)/600 = 0.0108167 approximately. When we round to the nearest cent, we get the same unit cost as before. Without rounding, we see that the first box has a slightly lower unit cost. Therefore box 1 is the better buy.
-3(x+4)-8x>21 solve this equation
Answers
Answer:
the answer:
Step-by-step explanation:
pls, crown or star. <3
Answer:x<-3
Step-by-step explanation:
-3(x+4)-8x>21
-3x-12-8x>21
-11x-12>21
-11x>33
x<-3
Pls hurry !!!!!! I will mark BRAINLIEST
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Can you help me find the missing sides and calculate the perimeter?
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The bottom side is 1m and the side on the right is 2m because looking at the other sides all of the sides should be 10.
Step-by-step explanation:
can someone help me i will give brainliest to whom ever right 28=x+13
Answers
Answer:
15
Step-by-step explanation:
28= x +13
x= 28-13
15
Therefore, 28= 15 +13
Math expert please provide the product in standard form
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PLEASE HELP!! THIS COUNTS FOR 18 PERCENT OF MY GRADE!!!!
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Answer:
question is blurry plz ss it carefully
(1-,4) and (1,-1) find the distance between each pair of points
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Answer:
(1,3)
Step-by-step explanation:
someone please help me
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Answer is corresponding angle
sam currently has $150 in a savings account and is saving 10$ per week. write an equation
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Answer:
$850
Step-by-step explanation:
you multiply 7 x 100 because there are 7 days in 1 week. That equals 700 plus 150 equals 850
Sam currently has $150 in a savings account and is saving 10$ per week. equation y=150+10x represents the situation.
What is Equation?Two or more expressions with an Equal sign is called as Equation.
Given, sam currently has $150 in a savings account and is saving $10 per week.
The total amount of savings in dollars is represented by y.
x represents the number of weeks
The equation y=150+10x.
y equal to one hundred and fifty plus ten times of x.
Hence, Sam currently has $150 in a savings account and is saving 10$ per week. Equation y=150+10x represents the situation.
To learn more on Equation:
https://brainly.com/question/10413253
#SPJ2
The school that Jenny goes to is selling tickets to a choral performance. On the first day of ticket sales the school sold 14 adult tickets and 14 child tickets for a total of $322. The school took in $188 on the second day by selling 12 adult tickets and 1 child ticket. What is the price of each of one adult ticket and one child ticket?A. Adult Tickets: $17, Child Ticket: $12B. Adult Tickets: $15, Child Ticket: $8C. Adult Tickets: $9, Child Ticket: $3D. Adult Tickets: $24, Child Ticket: $13
Answers
The price of one adult ticket is $15 and the price of one child ticket is $8.
Two sets of equations can be derived from this question:
14a + 14c = 322 equation 1
12a + c = 188 equation 2
These equations are known as simultaneous equations and they can be solved to determine the cost of each ticket using the elimination method.
In order to determine the cost of the adult's ticket multiply equation 2 by 14
168a + 14c = 2632 equation 3
Subtract equation 1 from 3
2310 = 154a
Divide both sides by 154
a = $15
To determine the cost of the children's ticket substitute for a in equation 1
14(15) + 14c = 322
210 + 14c = 322
322 - 210 = 14c
112 = 14c
c = $8
To learn more about simultaneous equations, please check: brainly.com/question/23589883?referrer=searchResults