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Colt1911 [192]
3 years ago
9

Stacy Smith has a $50,000 loan with a 10% annual interest rate. She paid $250 for a credit report, $300 for attorneys, $250 for

appraisal fees, and $5,268 in total interest for the first year. If the APR is the finance charge (interest plus fees) for one year ÷ amount financed, what was the APR for that year?
Mathematics
2 answers:
NeTakaya3 years ago
6 0
(250+300+250+5,268)÷50,000
=0.12136*100=12.1%
VikaD [51]3 years ago
3 0

Answer:

APR = 12.14%

Step-by-step explanation:

(250+300+250+5,268)÷50,000

Amount paid for a credit report = $250

Amount paid for the attorneys = $300

Amount paid for the appraisal fees = $250

So, Total fees for one year = 250 + 300 + 250

⇒ Total fees for one year = $800

Total interest for one year = $5268

So, Total finance charge for one year = Total fees + Total interest

⇒ Finance Charge = 800 + 5268

⇒ Finance Charge = $6068

Amount financed for the loan = $50000

\text{Annual Principal Rate (APR) = }\frac{\text{Finance charge}}{\text{Amount financed}}\times 100\\\\\implies APR = \frac{6068}{50000} \times 100\\\\\implies APR =12.136\\\\\implies\bf APR\approx 12.14\%

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gayaneshka [121]

Hello from MrBillDoesMath!

Answer:

a^6 + 4 a^5 + 5 a^4 - 5 a^2 - 4 a - 1


Discussion:

You may need to clean things up a bit but suppose that

S(1) = a-1

S(2) = a^2 -1

Since this is a geometric series, the geometric ratio is given by


S(2)/ S(1) =  (a^2 -1)/ (a-1)

               =  (a+1)(a-1)/ (a-1)

               = a+1

Conclusion:

S(2) = (a+1) S(1) = (a+1) (a-1)

S(3)  = (a+1) S(2) = (a+1) (a+1) (a-1)   = (a+1)^ (3-1) (a-1)

S(4) = (a+1) S(3)  = (a+1) * (a+1)^2 (a-1) ) = (a+1)^(4-1) (a-1)

in general.....

S(n) = (a+1)^ (n-1) (a-1)

So

S(6) = (a+1)^ (6-1) (a-1)

      =  (a-1) (a+1) ^ 5

     =  a^6 + 4 a^5 + 5 a^4 - 5 a^2 - 4 a - 1


Hope I didn't screw something here!


Thank you,

MrB

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3 years ago
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Answer:

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Step-by-step explanation:

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A.

Step-by-step explanation:

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ludmilkaskok [199]

Answer:

x = 8√2

General Formulas and Concepts:

<u>Pre-Algebra</u>

Order of Operations: BPEMDAS

  1. Brackets
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  4. Multiplication
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<u>Trigonometry</u>

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Step-by-step explanation:

<u>Step 1: Define</u>

We are given a right triangle. We can use PT to solve for the missing length.

<u>Step 2: Identify Variables</u>

Leg <em>a</em> = 8

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Hypotenuse <em>c</em> = <em>x</em>

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Answer:

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Step-by-step explanation:

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