Suppose that you are a member of the typical American household and your family carries a credit card debt of
$7942. Use the TVM (Time-Value-of-Money) Solver to model a few credit card scenarios. (Note: Use months
rounded to the nearest hundredths on all calculations.)
1. If the average annual interest rate is 17.11%, how many months will it take the average American family
to pay off their debt of $7,942 if they make a minimum payment of $175 each month and no additional
purchases are made?
2. How much interest did you pay during this time?

Answers

Answer 1

1. At an annual interest rate of 17.11%, an average family needs 74 months to settle $7,942 at a $175 monthly payment.

2. The total interest is $4,932.10.

What is a monthly payment?

The monthly payment is the amount paid each month to settle the loan within its maturity period.

The monthly payment can be computed using an online finance calculator.

We can also determine the period of payment using the same online finance calculator as below.

Data and Calculations:

I/Y (Interest per year) = 17.11%

PV (Present Value) = $7,942

PMT (Periodic Payment) = $-175

FV (Future Value) = $0

Results:

N = 73.566

Sum of all periodic payments = $12,874.10

Total Interest = $4,932.10

Thus, while it will take 74 months for the average American family to pay off the loan of $7,942 with a monthly payment of $175 at 17.11% interest, the total interest paid is $4,932.10.

Learn more about periodic payments at https://brainly.com/question/24244579

#SPJ1


Related Questions

A standard deck of cards has 13 cards (2, 3, 4, 5, 6, 7, 8, 9, 10, jack, queen, king, ace) in each
of 4 suits (hearts, clubs, diamonds, spades). The hearts and diamonds cards are red. The
clubs and spades cards are black. You choose a card from a standard deck of cards at
random. What is the probability that you do not choose a club?

The probability that you do not choose a club is

Answers

Answer:

3/4

Step-by-step explanation:

Prob to pick a club is 13/52

Prob not to pick a club is 1 - 13/52

1 - 13/52 = 3/4

Select the expressions that have a value less than -1.

A. -7 ÷ (-4)

B. – (3 ÷ 2)

C. -8/5 x (-5/8)

D. -5/-3

E. (-9) ÷ 6

Answers

Answer:

B and E

Step-by-step explanation:

A. -7 ÷ (-4) = -7/-4 = 7/4 = 1.75

B. -(3 ÷ 2) = -(1.5) = -1.5

C. -8/5 * (-5/8) = (8/5) * (5/8) = 1

D. -5/-3 = 5/3 ≈ 1.667

E. -9 ÷ 6 = -9/6 = -1.5

A rectangular window has a height of 5 1/2 feet and a width of 1 1/2 feet. What is the perimeter of the window?

A. 7 feet
B. 13 feet
C. 14 feet
D. 28 feet

Answers

Answer:

Your answer is C, 14ft

Step-by-step explanation:

Your Given Measurements (in feet):

Height = 5 1/2 ; Width = 1 1/2

___________________________________________________

The Perimeter Formula:

L + W + L + W = P

In this case, the "L" which is length going to get substituted as Height.

5 1/2 is 5.5 because if you do 1/2 on the calculator, you get 0.5 which you can add 5 to get 5.5.

1 1/2 is 1.5 which is the same as the 5 1/2.

____________________________________________________

Now do 5.5 + 1.5 + 5.5 + 1.5 = perimeter

5.5 + 1.5 = 7

7 + 7 = 14ft

Your answer is C: 14 ft

You want to buy a television priced at $479 with a 6.5% sales tax. What is the final cost of the television, after-tax? Round to the nearest cent.

Answers

Answer:

On Knewton May 15,2022 $510.14

Step-by-step explanation:

kvnaebivaebriebhaeibnebaeb g

Answers

lol sameeeeeeeeeeeeeeeeee


The point-slope form of the equation of the line that passes through (-5, -1) and (10,-7) is y+7= -5/2(x-10)What
is the standard form of the equation for this line ?

Answers

Linear Equations

One way we can organize a linear equation is in standard form:

[tex]Ax+By=C[/tex]

A, B and C are typically integers

Another way we can organize a linear equation is in point-slope form:

[tex]y-y_1=m(x-x_1)[/tex]

m is the slope[tex](x_1,y_1)[/tex] is a point that falls on the line

Solving the Question

We're given:

Line passes through (-5,-1) and (10,-7)Point-slope form is [tex]y+7=-\dfrac{5}{2}(x-10)[/tex]

We only need the point-slope form equation to find the stand form of the equation for this line. All we have to do is rearrange the numbers to get them in the right places.

[tex]y+7=-\dfrac{5}{2}(x-10)[/tex]

⇒ First, multiply both sides by 2 to get rid of the fraction:

[tex]2y+14=-5(x-10)[/tex]

⇒ Now, open up the parentheses:

[tex]2y+14=-5x+50[/tex]

⇒ Move -5x to the other side:

[tex]5x+2y+14=50[/tex]

⇒ Move 14 to the other side:

[tex]5x+2y=50-14[/tex]

⇒ Combine like terms:

[tex]5x+2y=36[/tex]

Answer

[tex]5x+2y=36[/tex]

Here are the test scores for 15 students in Mr. M's class.
96, 85, 59, 63, 76, 68, 94, 97, 89, 100, 93, 96, 72, 46, 78
What is the percentage of these test scores that are less than 90?

Answers

Answer:

60%

Step-by-step explanation:

If you look through the data, it is clear that 46, 59, 63, 68, 72, 76, 78, 85, and 89 are all less than 90. There are 9 elements total that are less than 90.

For percentages, you take the number you have and divide by the total. Since we know that there are 15 students, we can do 9 / 15. This gives us 0.6 which is 60%

The cost of beef decreases weekly at a rate of 10.2%. If beef cost $15.75 per pound today. How much will it cost in 2 years? ( round to the nearest cent (2 decimal places) )

Answers

Answer:

$ 383 854.28  per pound  ====>   See below !!

Step-by-step explanation:

Increases 10.2 % per WEEK   (??  Per WEEK?))  

  2 years is 104 weeks    (this is going to be a HUGE number)

15.75 (1+.102)^104 =

If increase is YEARLY

15.75 ( 1 + .102)^2 = $ 19.13 per pound    <<<<after two years

Can yall help me with this pls

Answers

its the third answer, how much gas he has after one hour

50 points each question. Please help. How do I solve?

Answers

[tex]~~~~~7e^{xy} +2x^2 -4y^2 =13\\\\\\\implies \dfrac{d}{dx}\left(7e^{xy} +2x^2 -4y^2\right) =\dfrac d{dx} (13)\\\\\\\implies 7\left[e^{xy} \dfrac{d}{dx} ( xy)\right] +2 \cdot 2x -4\cdot 2y \dfrac{dy}{dx} = 0\\\\\\\implies 7e^{xy} \left( x \dfrac{dy}{dx} +y\right) +4x -8y \dfrac{dy}{dx} =0\\\\\\\implies 7xe^{xy}\dfrac{dy}{dx} + 7ye^{xy} +4x -8y\dfrac{dy}{dx} = 0\\\\\\\implies \left(7xe^{xy} -8y \right) \dfrac{dy}{dx}=-7ye^{xy} -4x\\\\\\[/tex]

[tex]\implies \dfrac{dy}{dx} = \dfrac{-7ye^{xy} -4x}{7xe^{xy} -8y }[/tex]

What does 4! Equal?show the equation and what it equals

Answers

Answer:

[tex]\boxed{\sf{24}}[/tex]

Step-by-step explanation:

To solve this problem, first, you have to use the order of operations.

PEMDAS stands for:

ParenthesesExponentsMultiplyDivideAddSubtract

4!

Use the fractional rule.

[tex]\Longrightarrow: \sf{n!= 1*2*3*4}[/tex]

First, multiply.

1*2=2

2*3*4

2*3=6

6*4=24

[tex]\Longrightarrow: \boxed{\sf{24}}[/tex]

Therefore, the correct answer is 24.

I hope this helps. Let me know if you have any questions.

Find the surface of the rectangular prism

Answers

Answer:

yes multiply the 3 sides 3 times together with the number 2

Help! This one step for solving standard deviation I don't understand...

When I got it wrong it tells me what to do but I don't get it? (2nd image)

Answers

x = 10

hope it helps...!!!

On the map below 1/4 inch represents one mile. Candler, Canton, and Oteen are three cities on the map. If Candler and Oteen are 3 1/2 inches apart on the map, what is the actual distance between Candler and Oteen in miles?

Answers

Answer:

14 miles

Step-by-step explanation:

Let "Candler" be known as "C" and "Oteen" as "O"

Given:

0.25 inch = 1 mileDistance between "C" and "O" (In inches): 3.5 inches

3.5 ------> 3.50

⇒ Distance between "C" and "O" (In inches): 3.50 inches

Comparing the rate (inches/mile) and the distance:

⇒ 0.25x = 3.50

Multiplying both sides by 100:

⇒ 25x = 350

Clearly, 350 is divisible by 25 as "50" is divisible by 25.

Divide both sides by 25 to isolate x:

⇒ 25x/25 = 350/25⇒ x = 14

The actual distance between the two cities is 14 miles.

Answer:

14 miles

Step-by-step explanation:

Given:

[tex]\sf Scale=\dfrac14\:in : 1\:mile[/tex]distance between Candler and Oteen is 3 1/2 in

Let [tex]x[/tex] be the distance between Candler and Oteen in miles.

[tex]\implies \dfrac14:1=3 \frac12:x[/tex]

[tex]\implies \dfrac{\frac14}{1}=\dfrac{\frac72}{x}[/tex]

[tex]\implies \dfrac14x=\dfrac72[/tex]

[tex]\implies x=\dfrac72 \div \dfrac14[/tex]

[tex]\implies x=\dfrac72 \times \dfrac41[/tex]

[tex]\implies x=\dfrac{28}{2}[/tex]

[tex]\implies x=14[/tex]

In the decimal 14.8765 the 5 is in the
place.

Answers

the 5 is in the ten thousandths place

Answer:

The 5 is in the thousandths place

8 is the 'ones'

7 is the tenths

6 is the hundredths

5 is the thousandths

Step-by-step explanation:

A rectangular tabletop will be made of maple
wood that weighs 43 pounds per cubic foot. The
tabletop will have a length of eight feet, a width
of three feet, and a thickness of one inch.
Determine and state the weight of the tabletop,
in pounds.

Answers

A rectangular tabletop will be made of maple wood that weighs 43 pounds per cubic foot. The weight of the tabletop, in pounds, is 1032.

What is the volume of the rectangular tabletop?

The volume of the rectangular tabletop is the product of the length, breadth, and height of the given tabletop.

Volume of rectangular tabletop= (length x width x height)

The tabletop will have a length of eight feet, a width of three feet, and a thickness of one inch.

Volume of rectangular tabletop= (length x width x height)

                                                 = [tex]8 \times 3 \times 1\\\\24[/tex]

A rectangular tabletop will be made of maple wood that weighs 43 pounds per cubic foot.

The weight of the tabletop, in pounds = 43 x 24

                                                              = 1032 pounds

Learn more about rectangular tabletop;

https://brainly.com/question/15843335

#SPJ1

The difference between two consecutive cube numbers is always odd or even?

Answers

Answer:

odd

Step-by-step explanation:

take example of 2^3 +3^3 it's odd

now others try yourself

Find the volume of the pyramid.

A pentagonal pyramid with base labeled as B equals 210 square inches. The height of the pyramid is 30 inches.

Answers

Answer:

6300in

Step-by-step explanation:

vol=base area x height

210x30

=6300in

A store is currently offering a 60% discount on all items purchased. Your cashier is trying to convince you to open a store credit card and says to you, “ In addition to the 60% discount you are receiving for purchasing these items on sale today you will get an additional 20% off for opening a credit card account. That means you are getting 80% off!

Answers

The answer is 20$ when you get discounted the 80%

If we were getting 60% discount early and then again we are receiving 20% discount for using credit card then it means that we are getting 80% discount.

What is discount?

Discount means the amount which is deducted by sellers from the amount to be payable by buyers.

How to calculate discount?

Let the total price to be paid by us to store is $100.

Discount received because on purchase on sale day=100*60%

=60

Discount received due to use of credit card=100*20%

=20

Total discount received from store=60+20

=80

Percentage=80/100*100

=80%

Hence the total discount received by us from store is 80%.

Learn more about percentage at https://brainly.com/question/843074

#SPJ2

Algebra Write an expression representing the volume of the composite figure
formed by a hemisphere with radius r and a cube with side length 2r.

Answers

The expression that represents the volume of the composite figure is 16/3πr³ + r³

The expression that represents the volume?

The given parameters are:

Hemisphere radius = rCube length = r

The volume of a cube is:

V = l³

So, we have:

V = r³

The volume of a hemisphere is:

V = (2/3)πr³

So, we have:

V = (2/3)π(2r)³

Evaluate

V = (2/3)π * 8r³

This gives

V = 16/3πr³

Add both volumes

Volume = 16/3πr³ + r³

Hence, the expression that represents the volume of the figure is 16/3πr³ + r³

Read more about composite figure at:

https://brainly.com/question/21135654

#SPJ1

Find the value of X.

Answers

Answer:

Step-by-step explanation:

Vertically opposite angles are congruent.

-2x - 6 = 40

Add 6 to both sides

-2x = 40 + 6

-2x = 46

Divde both sides by (-2)

x = 46/(-2)

x = -23

A man traveled 24 miles in 20 minutes and 18 miles in 15 minutes. Assume that the distance varies linearly with time. How far will he travel in 30 minutes

Answers

Step-by-step explanation:

First we need to get his speed:

speed = distance / time

If he travelled 24 miles in 20 mintues, his speed is 24 / 20 = 1.2 miles per minute

If he travelled 18 miles in 15 minutes, his speed is 18 / 15 = 1.2 miles per minute

Those two should give us the same answer since it says that the distance varies linear with time, which means that his speed is constant.

Then after 30 minutes he will have traveled: 1.2 x 30 = 36 miles

please mark me as brainliest

According to the rules of NCAA volleyball, there must be exactly 6 players on the court at all times and each player has a unique designated position on the court. How many different starting position configurations are possible for the 6 starting players of an 8-member volleyball team that follows this rule? Please answer quick.

Answers

Answer:

20160

Step-by-step explanation:

This is a permutation of 6 out of 8

Use formula

P(n, r) = n!/(n-r)!

Find the number of starting positions

P(8,)6 = 8!/(8 - 6)! = 8!/2! = 1*2*3*4*5*6*7*8/1*2 = 20160

Change the following fraction to a mixed number with the fraction part reduced to lowest terms. 84/42

Answers

Answer:

2

Step-by-step explanation:

since you have 84/42, and you are supposed to convert the improper fraction to a mixed number, the easiest place to start is to divide the two numbers and find the remainder. In this case, however, there is no remainder, as 84 divided by 42 is exactly 2. Therefore, the most simplified fraction would be 2 (although it does not look like a fraction the most simplified form of the fraction is 2/1 --> which is just 2). Hope this helps!

Cosx(tanx+cotx)=

Pls Help

Answers

Answer:

Answer is csc(x)

Step-by-step explanation:

I convert tan(x)= sin(x)/cos(x) and cot(x)= cos(x)/sin(x).

Then distribute the cos(x).

Then turn it into fractor that has same denominator.

Simplified the numerator sin^2(x)+cos^2(x)=1

[tex]cos(x)*\((tan(x)+cot(x))\\\\cos(x)*(\frac{sin(x)}{cos(x)} +\frac{cos(x)}{sin(x)})\\\\sin(x)+\frac{cos^2(x)}{sin(x)}\\\\sin(x)*\frac{sin(x)}{sin(x)}+\frac{cos^2(x)}{sin(x)}\\\\\frac{sin^2(x)}{sin(x)}+\frac{cos^2(x)}{sin(x)}\\\\\frac{sin^2(x)+cos^2(x)}{sin(x)}\\\\\frac{1}{sin(x)}\\\\csc(x)[/tex]

Answer:

→cosecx

Step-by-step explanation:

[tex]\hookrightarrow cosx(tanx+cotx)\\\\\hookrightarrow cosx(\frac{sinx}{cosx} +\frac{cosx}{sinx} )\\\\\hookrightarrow cosx(\frac{sinx \times sinx + cosx \times cosx}{cosx*sinx} )\\\\\hookrightarrow cosx(\frac{sin^{2}x+cosx^{2}x}{cosx*sinx} )\\\\\hookrightarrow cosx(\frac{1}{cosx*sinx} )\\\\\hookrightarrow cosx \times \frac{1}{cosx} \times \frac{1}{sinx} \\\\\hookrightarrow 1\times\frac{1}{sinx} \\\\\hookrightarrow \frac{1}{sinx} \\\\\hookrightarrow cosecx[/tex]

Logic question.
Promise the Brainliest if you provide the answer with a solid explaining.
Thanks :)​

Answers

The answer is c because if u look at picture 1 2 u can see that the middle number has to be high to the closet

Use log 2=a, log 3=b to evaluate log 216

Answers

Answer:

answer = 3(a +b)

Step-by-step explanation:

[tex] log(2) = a \: log(3) = b \: \: \\ log(216) = log(2 \times 2 \times 2 \times 3 \times 3 \times 3) \\ = log( {2}^{3} \times {3}^{3} ) \\ = log(2^{3} ) + log( {3}^{3} ) \\ = 3 log(2) + 3 log(3) \\ = 3(a) + 3(b) \\ = 3(a + b) \\ \\ log(216) = 3(a + b)[/tex]

Pls help me
Pls show your answer pls and thank you

Answers

Answer:

Step-by-step explanation:

Beth's position over time is constant, which makes the problem a lot easier. You are asked for the rate of position versus time, so begin by doing that. Since the rate is constant, clearly from the table, you can take any two data points and take their ratio. Her rate would be 11 feet every 5 seconds, or equivalently 2.2 feet every second. To graph the data, put position on the x-axis and time on the y-axis. The slope will be 2.2 at every point along her bike ride.

Moving on to the third part. If Amy traveled at a rate of 75 feet every 30 seconds, then she would be traveling 2.5 feet every second. Amy's rate is larger than Beth's rate. Since the rate corresponds to the slope of the postion vs. time graph, Amy's graph will have a steeper incline since the slope is 2.5

A teacher wants to assign 4 of the 15 practice problems at the end of the lesson. How many different assignments are possible?

Answers

Answer:

15/4= 3.75

Step-by-step explanation:


13-18 Express the quantity as a single logarithm.
13. [tex]2 \ln x+3 \ln y-\ln z[/tex]

Answers

[tex]2 \ln x+ 3 \ln y - \ln z\\\\=\ln x^2 + \ln y^3 - \ln z\\\\=\ln(x^2 y^3) - \ln z\\\\=\ln \left( \dfrac{x^2y^3}{z} \right)[/tex]

Other Questions
The rectangles are similar Find X. Can someone please help. The Chronicle sells a local neighborhood group running an all block yard sale a quarter-page ad for $180. There are 18,000 subscribers, so the cost per thousand (CPM) is Draw, label, and shade a distribution for each problem. Round probabilities to the nearest ten thousandth.25. About 12.5% of people in the United States do not wear a seat belt. Suppose we plan to select a random sample of 220 U.S. residents. Let p = the proportion of people in the sample who do not wear a seat belt. Calculate the mean and standard deviation of the sampling distribution of p. What does einsteins theory of relativity, which posits that movement in space and time is relative to the person measuring them, mean? select two answers. each persons perception is ones own truth. reality is unique to each individual. space and time are constructs that do not exist. each person perceives space and time differently. what people perceive is not necessarily accurate or true. Which technology has most lowered inventory costs in industry? tablet computers robotics satellite communications just-in-time manufacturing What is forensic entomology? What are the different areas of forensic entomology? The Wolves Among Us".Beagles, greyhounds, German shepherds, and even tiny toy poodles are all related to the same majestic wild animal, the wolf. In fact, all domestic dogs are descended from wolves. There are several species of wolf, including the gray wolf, the arctic wolf, the red wolf, the white wolf, and the Mexican wolf. Wolves are some of the most widespread mammals. Populations of wolves exist in almost as many places around the globe as humans do.Wolves are exceptional pack hunters. This is why they are able to take down large prey such as moose or deer by working together as a seamless team. Wolf pups as young as eight months old begin helping on the hunt. Wolves can reach speeds of up to 40 miles per hour when chasing prey, and their thick, double-coated fur enables them to keep warm in even the coldest arctic temperatures. Their large, powerful paws can reach up to 5 inches across and help to propel them quickly across the snow.Next time you're playing fetch with your furry friend, think about its ancestor, the wolf. That terrier or pug might only be able to take down a ball or a bone, but it gained its instincts to chase and hunt from those greatest of hunters, the wolves.Read the article "The Necessity of Hybrids".What do you get if you cross two different species? Depending upon the species, you might end up with a grolar bear, a wolfdog, or a Savannah cat, among many others. What do these animals have in common? They're hybrids. Sometimes hybrids happen naturally in the wild, but usually, hybrids are the result of humans selectively breeding animals.Grolar bears and pizzlies are the result of crossing polar bears and grizzly bears. These hybrids were first seen in zoos, as the bears' natural habitats did not normally overlap. Recently, these hybrids have started appearing in the wild. Due to climate change, the bears' once-separate habitats are beginning to overlap. Bigger and more aggressive than their parents, grolar bears and pizzlies could pose a risk to natural habitats and humans.Wolfdogs are, as their name suggests, the result of crossing a wolf with a domestic dog. Bred for the pet trade, these hybrids do not often happen in the wild. Wolfdogs do not make good pets, however, as they can be destructive and aggressive. Many states have outlawed keeping wolfdogs because they can pose a danger to people.Savannah cats are another example of human-made hybrids that were developed to be pets. Savannahs are the result of crossing a small wildcat called a serval with a domestic housecat. They look like miniature versions of the wildcat, which is why many people like keeping them as pets. Like the wolfdog, however, Savannahs do not make ideal house pets. They can be destructive, and usually, they keep the wild nature of the serval.There are many more examples of human-made hybrid animals. Some hybrids, such as the mule, have been helpful to humans. Unfortunately, others, like the wolfdog or Savannah cat, should not have been made in the first place.How is the overall structure of "The Wolves Among Us" similar to the structure of "The Necessity of Hybrids"? A)Both articles use the cause and effect text structure.B)Both articles use the chronological text structure.C)Both articles use the compare and contrast text structure.D)Both articles use the problem and solution text structure. By the year 2000, approximately what percentage of the world's population was engaged in full-time farming please answer this quickly and correctly, spam will be reported.what did hermia have to be aware of about her plan? please help !!! im so lost with this Solve u^2= -25, where u is a real number.Simplify your answer as much as possible.If there is more than one colution Find the area using the given image. In the hotly competitive auto industry, Geely faces high pressure for cost reductions. The company also sells its Volvo brand to the same high-income, safety-conscious buyer the world over. The best strategy for Geely is a(n) __________ strategy. Which of the following had the lowest social hierarchy in Japanese culture during this time period?A. MerchantsB. PeasantsC. SamuraiD. Emperor HELP ANYONE? Now you will put what you learned into practice. Remember, some ways to improve word choice include: Use a thesaurus to find synonyms Use words that are specific, not vague Stay away from using verbs like: is, was, were, & are Rewrite the paragraph below to include more descriptive and colorful language that suggests a mood of exuberance or excitement. Specifically, edit this paragraph for word choice. Feel free to use a thesaurus, but try to maintain your own personal voice. For example, dont use words you wouldnt normally use. Make sure to edit for errors in conventions before turning it in. Paragraph to rewrite: "I had the best day ever. First, I woke up. Then, I got a package in the mail. I opened it. It was the best gift ever. Then, my aunt came over with a birthday cake and presents for the party. All my friends arrived and we had a good time. Ill always remember this day." For Gundy Company, units to be produced are 5,000 in quarter 1 and 7,000 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct labor budget by quarters for the 6 months ending June 30, 2022. Hello, may you stay here for a bit and help me?The first answer gets brainliest!~Lilo1was1Lost~ Which is the correct chemical equation for photosynthesis? 6co2 6h2o c6h12o6 6o2 c6h12o6 6o2 6co2 6h2o 3co2 3h2o 3o2 c6h12o6 6o2 6h2o c6h12o6 6co2 How accurate is it to say that the main reason for the survival of the Soviet regime, inthe years 1917-28, was the introduction of the New Economic Policy?HELP I GIVE A LOT OF POINTS