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kakasveta [241]
2 years ago
6

Consider a student loan of $12, 500 at a fixed APR rate of 9% for 25 years.

Mathematics
1 answer:
Eduardwww [97]2 years ago
5 0

The monthly payment is; $104.9; The total amount paid over the term of the loan is; $31470

<h3>How to calculate APR?</h3>

We are given;

Loan principal = $12,500

Interest rate = 12%

Number of payments per year = 12 payments per year.

Loan term = 25 years.

Formula for monthly payment is;

PMT = (p * APR/n)/[1 - (1 + APR/n)^(-nY)]

Where;

p is principal

APR is interest rate

n is number of payments per year

Y is loan term

Thus;

PMT = (12500 * 0.09/12)/[1 - (1 + 0.09/12)^(-12 * 25)]

PMT = 93.75/(1 - 0.106288)

PMT = $104.9

B) Total amount paid over the loan term is;

A = PMT * m * n

where;

m is number of months in a year,

n is number of years

A = 104.9 * 12 * 25

A = $31470

C) The principal as a percentage of the loan is;

P/A = 12500/31470

P/A = 39.72%

Percentage paid for interest is = 100% - 39.72% = 80.28%

Read more about APR at; brainly.com/question/24703884

#SPJ1

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decimal: x0.6 or fraction: 2/3

Step-by-step explanation:

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Consider the following equations: f(x) = 2x – 2 and g(x) = 5 - x
zysi [14]

Answer:

The difference in slopes of f(x)\ and\ g(x) is = 3

We can say slope of f(x) is positive  and 3 more than slope of g(x) while slope of g(x)  is negative.

Difference of y-intercepts of f(x)\ and\ g(x) is = -7

We can say the y-intercept of g(x) is positive and 7 units above f(x) while y-intercept of f(x)  is negative.

Step-by-step explanation:

Given equation:

f(x) =2x - 2

g(x) =5-x

We need to find the difference of slopes and y-intercepts of the given equations.

The standard form of a slope intercept equation of line is given by:

y=mx+b

where m represents slope and b represents y-intercept of line.

Writing the given equations in standard form to find slope and y-intercept.

f(x) =2x +(-2)

Slope = 2 and y-intercept =-2

g(x) =(-1)x+5

Slope = -1 and y-intercept =5

The difference in slopes of f(x)\ and\ g(x) is = 2-(-1)=2+1=3

We can say slope of f(x) is positive  and 3 more than slope of g(x) while slope of g(x)  is negative.

Difference of y-intercepts of f(x)\ and\ g(x) is = -2-5=-7

We can say the y-intercept of g(x) is positive and 7 units above f(x) while y-intercept of f(x)  is negative.

5 0
2 years ago
Keith has $500 in a savings account at the beginning of the summer. He withdraws $25 each week for food, clothes, and movie tick
alexdok [17]

Answer:

You can put this solution on YOUR website!

the inequality is 500 - 25x >= 200

this insures that he will have at least 200 at the end of the summer.

subtract 200 from both sides of that inequality and add 25x to both sides of that inequality to get 500 - 200 >= 25x

simplify to get 300 >= 25x

divide both sides of that equation by 25 to get 300 / 25 >= x

simplify to get 12 >= x

12 >= x means x <= 12.

 

when x is smaller than or equal to 12, he will be guaranteed to have at least 200 in the account at the end of the summer.

when x = 12, what is left in the account is 500 - 25 * 12 = 200.

when x = 11, what is left in the account is 500 - 25 * 11 = 225.

when x = 13, what is left in the account is 500 - 25 * 13 = 175.

the maximum number of weeks he can withdraw money from his account is 12.

Step-by-step explanation:

6 0
3 years ago
How do I study for a big math test? any tips on how to study I'm a visual learner.
Nastasia [14]

Honestly? Just review your notes and try to work out the problems yourself before taking a look at the answer. You can also google specific topics that the test will cover and try the practice problems.

3 0
3 years ago
Read 2 more answers
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