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pishuonlain [190]
2 years ago
5

Toby just graduated from four years of college. at the beginning of each year, he took out a stafford loan with a principal of $

6,125. each loan had a duration of ten years and an interest rate of 5.3%, compounded monthly. all of the loans were subsidized. toby plans to pay off each loan in monthly installments, starting from his graduation. what is the total lifetime cost for toby to pay off his 4 loans? round each loan's calculation to the nearest cent. a. $7,904.04 b. $31,616.16 c. $10,393.82 d. $36,490.25 please select the best answer from the choices provided a b c d
Mathematics
1 answer:
Mila [183]2 years ago
6 0

If he starts paying after four years, the worth of the loans by then is b. $31,616.16

<h3>What is a Loan?</h3>

This refers to the amount collected from a lender to be repaid after a given time, usually with added interest.

Hence, we can see that:

The effective monthly interest rate is:

i = 0.053/12 = 0.0044

The effective annual interest rate is:

i = (1 + 0.0044)^12 -1 = 0.0543

The present worth of all the loans is:

P = 6125 + 6125 (1 + 0.0543)^-1 + 6125 (1 + 0.0543)^-2 + 6125(1 + 0.0543)^-3

P = $22,671.40

If he pays them prompty, then the total lifetime cost would be

P = 22671.40 (1 + 0.0543)^4 = $31,616.16

Read more about loans here:

brainly.com/question/2363571

#SPJ4

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The sum of three consecutive integers is 141. What is the smallest integer?
Sonja [21]

Answer:

The Consecutive number are 46 , 47 and 48 having sum as 141

The smallest number is 46

Step-by-step explanation:

• A consecutive numbers means number are in a sequence and are one after the another !

e.g. n , (n+1). Or 1 , 2 are consecutive numbers

• A consecutive even numbers differ by 2 because all even numbers are divisible by 2 !

• If the number is divisible by x we must had taken number as n , ( n + x ) ,

( n + 2x )

• Let the numbers be ( n - 1 ) , n and

( n + 1 )

Given ,the sum of numbers is 141

n - 1 + n + n + 1 = 141

3n = 141

n = 141/3

n = 47

So, the numbers are

n- 1 = 47 - 1 = 46

n = 47

n + 1 = 48

And , the smallest number is 46

• Verification :-

46 + 48 + 47 = 141

Which satisfies the given condition !!

Hence , verified !!

8 0
3 years ago
I asked more than 10 times Still no steps to a solution
Alisiya [41]

Answer:

C 200

Step-by-step explanation:

It does not appear to be LINEAR so

Start with :

pulse rate = y = 73e^kx  

sub in x = .7      when y = 155

155 = 73 e^(.7 * k)

ln ( 155/73)  =  .7k

.75296567  = .7k

     k = 1.07567

for x = 0.9 :

pulse rate  =  y = 73 e^(1.07567 * .9)  = ~ 192      so I expect answer is 200

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Step-by-step explanation:

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