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german
3 years ago
6

Katelyn plans to apply for a $10,000 loan at an interest rate of 5.6% for 5 years. Use the monthly payment formula to complete t

he statement.
P(1)(1 + 5) 121

M= (1 + 5)12² - 1

M= monthly payment

P= principal

r= interest rate

t= number of years

Rounded to the nearest cent, Katelyn's monthly payment for the loan is $
Mathematics
1 answer:
SashulF [63]3 years ago
4 0

Answer:

Katelyn's monthly payment for the loan is $ 2,032.52

Step-by-step explanation:

The formula given is explicit,we can solve for monthly payment using the below formula

P=L(1-r/r-r^n+1)

r=1/(1+i)

i=5.6%/12=0.47%

5.6% is an annual interest rate,it would be appropriate to restate in monthly terms

r=1/(1+0.47%)=0.995

n=5 years*12 months=60

L is the loan amount of $100,000

P=100000*(1-0.995)/(0.995-0.995^60+1)

=100000*(1-0.995)/(0.995-0.74)

=100000*0.005/0.246

=$ 2,032.52  

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gayaneshka [121]

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8 hours and 31 minutes per day

Step-by-step explanation:

\implies 42 \text{hours} \times 60\text{minutes}=2,250 \text{minutes}

\implies2,520 +35 = 2,555

\implies 2,555 /5 = 511

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Step-by-step explanation:

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3 years ago
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Answer: The required equation is x=(7\times12-34.5)\div8\frac{1}{4}

Maria can cut 6 sections from the remaining rope.


Step-by-step explanation:

The total length of rope = 7 feet

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Therefore, 7 feet=7\times 12=84\ inches

Let x be the number of sections.

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Answer:

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Step-by-step explanation:

According to the trigonometric ratios the tangent of an angle is the ratio of perpendicular to base, i.e.

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