Answer:
Principal element is $475.43
Interest payment is $390
Step-by-step explanation:
The amount of interest paid in month one is 4%*$117,000*1/12=$390
The interest is calculated based on the annual interest rate of 4% apportioned to reflect one month interest by multiplying by 1/12
The principal element of monthly payment is the monthly payment minus interest.
principal paid in month one=$865.43-$390=$475.43
Ultimately,$475.43 goes toward reducing her loan balance while the $390 is interest on loan
Answer:
The y-coordinate of the solution is -5.
Step-by-step explanation:
I graphed the equations on the graph below to find the solution of the system.
If this answer is correct, please make me Brainliest!
No, Lily is not correct. This is because 16+3 does not equal 18. So to find N, you take 18 and subtract 16.
18-16=n
18-16=2
so n=2
16+2=18.
Answer
A: $28,000
B: 15 years
Step-by-step explanation:
A: Since $25,000 is deposited in the bank and you earn 4% interest annually over 3 years you would earn 12% interest. 12% of 25,000 is 3,000. The sum of 25,000 and 3,000 is 28,000 having you earn $28,000 over 3 years.
B: Since every year you earn 4% annual interest and you have $25,000 deposited in the bank you have to find what percentage of 25,000 equals 15,000. Since 25,000 isn't exactly easy to find multiply it by 4. That leaves you with 100,000 which we know you don't have in the bank but it will make it easier to find the percentage. You will also have to multiply 15,000 by 4 giving you 60,000. Now divide the 60,000 by 1,000 which equals 60. What's the point of the number 60? Well, that's the percentage it takes. Now divide 60 by the annual interest which is 4 and that gives you 15. 15 is the number of years it will take for the balance to reach $40,000.
Hope this helps!
All numbers except for the square root of 50
