1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Marcus wants to use a model to determine the difference
grigory [225]

Electron transfer theory describes the parameters which control the rate at which an electron is transferred from one atom or molecule to another.

<h3>What was the basic principle of Marcus theory?</h3>
  • In theoretical chemistry, Marcus theory is a theory originally developed by Rudolph A. Marcus, starting in 1956, to explain the rates of electron transfer reactions – the rate at which an electron can move or jump from one chemical species.
  • Marcus' method (also referred to as Marcus's method and Method of Marcus) is a structural analysis method which was designed to design concrete slabs with rectangular, orthogonal shapes. It represents an adaptation of the strip method.
  • Marcus Hush theory (M-H theory) was developed in 1956 by Rudolph A. Marcus which explains the fundamentals of the redox/ electron transfer reactions in terms of the rate of jumping/moving an electron from oxidant species (electron donor) to the reductant (electron acceptor).
  • The "Marcus Inverted Region" (MIR) is that part of the function of rate constant versus free energy where a chemical reaction becomes slower as it becomes more exothermic.

We want to see how we can model the difference: -8 - 3 + 3

The correct option is D:

"add 3 positive counters and 3 negative counters"

We know that Marcus starts with 8 negative counters, corresponding to the first term in our difference.

Now, let's study the math of our expression.

-8 - 3 + 3

Remember that we can perform the operation in any order we want, so we can write this as:

-8 + (-3 + 3)

Notice that the thing inside the parentheses is equal to zero, so we have:

- 8 + (-3 + 3) = -8

So to not change the value, we add 3 and we subtract 3.

Now if we have 8 negative counters, and we want to add 3 positive counters and not change the value, then we also need to add 3 negative counters to "cancel" the 3 positive counters we added.

Then the correct option is D.

To learn more about Marcus refer to,

brainly.com/question/23140234

#SPJ1

8 0
1 year ago
Relationship between the value of the given digits 6s in 660
expeople1 [14]
We have the given number = 660
Now, explain the relationship of 6s in the given number.
=> 6 = hundreds
=> 6 = tens
=> 0 = ones
This is also another form:
=> 6 = 600
=> 6 = 60,
now, notice that the first value of 6 in the leftmost side is 10 times higher than the next number 6.
=> 60 x 10 = 600.
Thus, 600 is 10 times greater than 60 and vice versa.



5 0
3 years ago
Mike is making a scale model of his favorite car. The actual car is 8 feet long and 4 feet wide. Mike wants his model to be 12 i
alexira [117]
8/4=12/x
Would be the ratio.

Solve it:

8/4 =12/x

2=12/x

2x=12

X=6
5 0
3 years ago
Help please asap!!!!!
jok3333 [9.3K]

Answer:

3rd answer

Step-by-step explanation:

It is an open circle and it has to be less than 15 and since it is a positive it is to the right

3 0
3 years ago
Find the value of y to the following system of equations.
wel

Answer:

  y = 4/3

Step-by-step explanation:

The two equations can be added to eliminate x:

  (0.1x +0.5y) + (-0.1x -0.2y) + (1.2) +(-0.8)

  0.3y = 0.4 . . . . . simplify

Divide by the coefficient of y to find y:

  y = 0.4/0.3

  y = 4/3

4 0
4 years ago
Other questions:
  • The united states gets about 39% of its energy from petroleum. Express 39% as a decimal.
    12·1 answer
  • A population increased 13% up to 2,877. What was the population before the increase?
    8·1 answer
  • Please help answer this
    6·2 answers
  • To start the school year, a teacher spends $54.35 in school supplies for her classroom. During the course of the year, she will
    9·1 answer
  • Solve for x,y and z in the following diagrams ​
    6·1 answer
  • A wooded piece of land is 68 3/4 acres. If 4/5 of this land is cleared for development, how many acres of wooded land will remai
    6·1 answer
  • 5 rubber stamps cost $9.70.
    8·1 answer
  • 6. a + 6 &lt; -2; a = -8<br> I<br> 0. yes<br> P. no
    13·1 answer
  • Can someone tell me the answer to this please I got this wrong on my first attempt .-.
    12·2 answers
  • Find X. Enter a number for your answer. Do not type the symbol for degree or the<br> word "degrees"
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!