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
zimovet [89]
3 years ago
8

Steve purchases a new car with a down payment and a loan at a 4.9% interest rate. His loan contract is for 60 months and has no

prepayment penalties. Steve makes all his payments on time. What should he do if he wants to pay his loan off before 60 months has passed?
make more than the minimum payments



use the down payment to pay down the loan



increase his auto insurance premiums to decrease the amount owed



pay the principal and interest due each month
Mathematics
2 answers:
Bumek [7]3 years ago
5 0

Answer:

Pay more than the required premiums

Step-by-step explanation:

The loan contract is of for 60 months. If Steve wants to repay the loan before 60 months , he need to pay more than the promised premiums.

In this way , the Steve will have more payment and as there is no prepayment charges, he will not be paying any penalties also. So the extra payment will help him to reduce the borrowed principle and thus thereby reducing the interest charged.

Hence out answer is option one , which says make more than the minimum payments

andre [41]3 years ago
4 0
Pay more than the minimum payments
You might be interested in
Determine the sample size needed to construct a 90% confidence interval to estimate the population proportion when p = 0.65 and
WINSTONCH [101]

Answer:

n=170

Step-by-step explanation:

1) Notation and definitions

n random sample taken (variable of interest)

\hat p=0.65 estimated proportion.

p true population

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".  

The margin of error is the range of values below and above the sample statistic in a confidence interval.  

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".  

The population proportion have the following distribution

p \sim N(p,\sqrt{\frac{\hat p(1-\hat p)}{n}})

In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 90% of confidence, our significance level would be given by \alpha=1-0.90=0.1 and \alpha/2 =0.05. And the critical value would be given by:

z_{\alpha/2}=\pm 1.64

The margin of error for the proportion interval is given by this formula:  

ME=z_{\alpha/2}\sqrt{\frac{\hat p (1-\hat p)}{n}}    (a)  

And on this case we have that ME =\pm 0.06 and we are interested in order to find the value of n, if we solve n from equation (a) we got:  

n=\frac{\hat p (1-\hat p)}{(\frac{ME}{z})^2}   (b)  

And replacing into equation (b) the values from part a we got:

n=\frac{0.65(1-0.65)}{(\frac{0.06}{1.64})^2}=169.968  

And rounded up we have that n=170

6 0
4 years ago
Plz fast plzzzzzzzz ​
scoray [572]

Step-by-step explanation:

cubing both sides (p+1)^3= (7)^3

=> p^3+1/p^3+ 3(p+1/p) = 343

=> p^3+ 1/p^3 + 3(7)= 343

=> p^3+1/p^3= 343-21

=> p^3+1/p^3= 322

hope it helps

4 0
3 years ago
6 more than twice a number is 24. Write is as a Verbal expression please
loris [4]

Answer:

Miss, I would like to have a refund for both of my mcchickens that cost 9 dollars each. I would also like to have a refund for both of my drinks that cost 3 dollars each. They are both large. You messed up my whole meal!

Step-by-step explanation:

3 0
4 years ago
The green dots must make up a triangle 1/3 of the original picture PLZ HELP
omeli [17]

Consider Point P to be (0,0) count the grid lines to find the location of points A, B and C

A=. (-6,-3)

B = (-9,6)

C =(3,9)

Now the scale is 1/3. So divide all the points by 3 to get the new location and place the green dots on them:

A’=(-2,-1)

B’ =(-3,2)

C’ =(1,3)

4 0
3 years ago
Find which inequality statement is correct. A café used 15.75 pounds of flour on Monday and 15.57 pounds of flour on Tuesday. Wh
statuscvo [17]

Answer:

15.75 > 15.57

Step-by-step explanation:

1. 15.75 is greater than 15.57. ">" means greater than.

2. 15.75 < 15.57 is wrong because 15.75 is not less than 15.57

3. 15.75 does not equal 15.57. They are not equal numbers.

4. This means " 15.75 > 15.57" is correct. Even though they are both 15 the number after the decimals are important to look at too. 75 is greater than 57.

4 0
3 years ago
Other questions:
  • Indicate whether the following study is an observational study or a controlled experiment. A researcher is interested in the eff
    9·1 answer
  • Lisa made $201.50 selling 13 of her old video games.If she sold them allat the same price ,which equation can be used to find, p
    8·1 answer
  • Determine whether y varies directly with x. If so find the constant of variation k and write the equation.
    6·2 answers
  • If you roll two fair six sided dice why is the probability that the sum is 5 or lower
    12·1 answer
  • What is the circumference of circle p in pi?
    12·1 answer
  • Jeremy can row 1/3 of a mile in 1/4 of an hour. What is the unit rate?
    5·2 answers
  • Which of these is a simplified form of the equation 7y + 8 = 9 + 3y + 2y?​
    14·2 answers
  • Type the correct answer in each box. Use numerals instead of words. if necessary, use / for the fraction bar(s).
    8·1 answer
  • Olivia is making scarves. Each scarf will have 7 rectangles, and 6 7 of the rectangles will be purple. How many purple rectangle
    8·1 answer
  • Is it possible to draw a triangle with a 50° angle, a 60° angle, and an 80° angle? Why or why not?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!