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2 years ago

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Jacinta borrowed sh. 100,000 from her cooperative society. She pays 1% interest of the outstanding balance every month. If she p

ays sh. 10,000 plus interest every month, how much money does she pay to service the whole loan?

1 answer:

vredina [299]2 years ago

8 0

The amount of money that Jacinta pays to service the whole loan as interest is <u>sh. 5,899</u>.

<h3>What is interest?</h3>

Interest is the finance charge that a borrowers incurs to service a loan.

Interest is based on the outstanding balance at the end of the payment period.

<h3>Data and Calculations:</h3>

Principal loan = sh. 100,000

Interest on outstanding balance = 1%

Monthly payment of principal and interest = sh. 10,000

Period of repayment = Monthly

<h3>Amortization Schedule:</h3>

Beginning Interest Payment Ending Balance

1st month sh. 100,000 sh. 1,000 sh. 10,000 sh. 91,000

2nd month sh. 91,000 sh. 910 sh. 10,000 sh. 81,910

3rd month sh. 81,910 sh.819 sh. 10,000 sh. 72,729

4th month sh. 72,729 sh. 727 sh. 10,000 sh. 63,456

5th month sh. 63,456 sh. 636 sh. 10,000 sh. 54,092

6th month sh. 54,092 sh. 541 sh. 10,000 sh. 44,633

7th month sh. 44,633 sh. 446 sh. 10,000 sh. 35,079

8th month sh. 35,079 sh. 351 sh. 10,000 sh. 25,430

9th month sh. 25,430 sh. 254 sh. 10,000 sh. 15,684

10th month sh. 15,684 sh. 157 sh. 10,000 sh. 5,841

11th month sh. 5,841 sh. 58 sh. 5,899 sh. 0

Total interest paid = sh. 5,899

Thus, based on the payment schedule above, the amount of money that Jacinta pays to service the whole loan as interest is <u>sh. 5,899</u>.

Learn more about loan interests at brainly.com/question/24576997

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Find the values of y = c(x) = for x = 0, 0.008, 0.027, 0.064, 0.125, 0.216, 0.343, 0.512, , 0.729, and 1.

kondaur [170]

c(x) is a function, then we will solve the problem for two different functions.

1. If $c(x)=\frac{x}{0.5}+x$

Then

$y=c(x)$

$y=\frac{x}{0.5}+x$

Using each of the values for x we have.

When x=0 the result is: $y=\frac{0}{0.5}+0=0$

When x=0.008 the result is: $y=\frac{0.008}{0.5}+0.008=0.016+0.008=0.024$

When x=0.027 the result is: $y=\frac{0.027}{0.5}+0.027=0.054+0.027=0.081$

When x=0.064 the result is: $y=\frac{0.064}{0.5}+0.064=0.128+0.064=0.192$

When x=0.125 the result is: $y=\frac{0.125}{0.5}+0.125=0.25+0.125=0.375$

When x=0.216 the result is: $y=\frac{0.216}{0.5}+0.216=0.432+0.216=0.648$

When x=0.343 the result is: $y=\frac{0.343}{0.5}+0.343=0.686+0.343=1.029$

When x=0.512 the result is: $y=\frac{0.512}{0.5}+0.512=1.024+0.512=1.536$

When x=0.729 the result is: $y=\frac{0.729}{0.5}+0.729=1.458+0.729=2.187$

When x=1 the result is: $y=\frac{1}{0.5}+1=2+1=3$

2. If $c(x)=sin(x)+2x$

Then

$y=c(x)$

$y=sin(x)+2x$

Using each of the values for x we have.

When x=0 the result is: $y=sin(0)+2(0)=0$

When x=0.008 the result is: $y=sin(0.008)+2(0.008)=0.000139+0.016=0.016139$

When x=0.027 the result is: $y=sin(0.027)+2(0.027)=0.000471+0.054=0.054471$

When x=0.064 the result is: $y=sin(0.064)+2(0.064)=0.001117+0.128=0.129117$

When x=0.125 the result is: $y=sin(0.125)+2(0.125)=0.002182+0.25=0.252182$

When x=0.216 the result is: $y=sin(0.216)+2(0.216)=0.003769+0.432=0.435769$

When x=0.343 the result is: $y=sin(0.343)+2(0.343)=0.005986+0.686=0.691986$

When x=0.512 the result is: $y=sin(0.512)+2(0.512)=0.008936+1.024=1.032936$

When x=0.729 the result is: $y=sin(0.729)+2(0.729)=0.012723+1.458=1.470723$

When x=1 the result is: $y=sin(1)+2(1)=0.017452+2=2.017452$

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