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
Elis [28]
1 year ago
13

Reducible interest at 6% pa is charged on a loan of $50 000. Annual repayments of

Mathematics
1 answer:
Nana76 [90]1 year ago
7 0

1. The loan balance after 2 years is $45,262.

2. The loan balance after 3 years is $42,678.

3. The loan balance after 1 year is $47,700.

<h3>What is the loan balance?</h3>

The loan balance is the amount remaining from the principal amount after the deduction of repayment and the addition of interest for the period.

The loan balance can be computed manually as below:

<h3>Data and Calculations:</h3>

Loan amount = $50,000

Interest rate = 6%

Annual repayments = $5,000

1st year:

Loan amount = $50,000

Repayment = ($5,000)

Interest = $2,700 ($50,000 - $5,000) x 6%

Loan balance = $47,700 ($50,000 - $5,000 + $2,700)

2nd year:

Loan balance = $47,700

Repayment = ($5,000)

Interest = $2,562 ($47,700 - $5,000) x 6%

Loan balance = $45,262 ($47,700 - $5,000 + $2,562)

3rd year:

Loan balance = $45,262

Repayment = ($5,000)

Interest = $2,416 ($45,262 - $5,000) x 6%

Loan balance = $42,678 ($45,262 - $5,000 + $2,416)

Thus, the loan balance after 3 years is $42,678.

Learn more about computing loan balances at brainly.com/question/24576997

#SPJ1

You might be interested in
Read the problem and answer the questions show your solution when necessary. ​
Alexandra [31]

Answer:

Step-by-step explanation:

1) Number of white chocolate bars = x

Number of dark chocolate bars = y

Total bars = 15

x + y = 15 --------------(I)

Total cost = Php. 340

20x + 25y = 340 ----------------(II)

2)  We can use elimination method to solve this equations.

Multiply equation (I) by (-20) and then add the equations.

(I)* (-20)          -20x  -20y = - 300

(II)                    <u>20x + 25y = 340 </u>     {Now add and x will be eliminated}

                                  5y = 40

                                    y = 40/5

y = 8

Substitute y = 8 in equation (I)

x + 8 = 15

      x = 15 - 8

x = 7

3) Number of dark chocolate bars = 8

4 0
3 years ago
Question number eight answer
Feliz [49]

I think you forgot to attach the picture w/ the question . .

7 0
2 years ago
(3x^4-x^3-4x^2-2x-20)÷(x^2+2) using long division
rosijanka [135]
Answer is below..............

7 0
3 years ago
If mn = 16 and m^2 + n^2 = 68 then (m+n)^2 =
Dima020 [189]

Answer:

B.   100

Step-by-step explanation:

(m + n)^2

= m^2 + 2mn + n^2

Rearrange

(m^2 + n^2) + 2mn

Substitute

(68) + 2*16

= 68 + 32

= 100

7 0
3 years ago
What is the answer to number 2
MAXImum [283]
The answer would be B
4 0
3 years ago
Read 2 more answers
Other questions:
  • An article was sold for Rs 30
    7·1 answer
  • When josh babysits,he charges a flat fee of $4 plus an hourly rate or r dollars
    15·2 answers
  • A parallelogram with an area of 160.5 in has the height of measures 7.5 in find the length of the base
    8·2 answers
  • I dont understand...please help
    12·1 answer
  • |60| __ |60| <br> a.=<br> b.&lt;<br> c.&gt;
    14·1 answer
  • Find the missing value and show your steps please
    13·2 answers
  • A rectangle and a triangle have the same area and the same base measurement. How does the height of the triangle compare to the
    14·1 answer
  • Please answer seriously will give brainliest
    12·1 answer
  • 7. Gabriela deposits $500 in an ordinary annuity at the end of each month in an account earning 8% annual
    9·1 answer
  • Solve: (a + 11)9<br><br> plz help ill give the first person brainliest i need it in 10 minutes
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!