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
artcher [175]
3 years ago
12

an amount of $41,000 is borrowed for 7 years at 6.75% interest, compounded annually. If the loan is paid in full at the end of t

hat year, how much must be paid back?
Mathematics
1 answer:
Marianna [84]3 years ago
3 0

Answer:

<u>We must pay back US$ 64,767.70 for the loan after 7 years.</u>

Step-by-step explanation:

1. Let's review the data given to us for answering the question:

Loan amount = US$ 41,000

Duration of the loan = 7 years

Interest rate = 6.75% compounded annually

2. Let's find the future value of this loan after 7 years, using the following formula:

FV = PV * (1 + r) ⁿ

PV = Loan = US$ 41,000

number of periods (n) = 7 (7 years compounded annually)

rate (r) = 6.75% = 0.0675

Replacing with the real values, we have:

FV = 41,000 * (1 + 0.0675) ⁷

FV = 41,000 * (1.0675) ⁷

FV = 41,000 * 1.5797

<u>FV = US$ 64,767.70</u>

<u>We must pay back US$ 64,767.70 for the loan after 7 years.</u>

You might be interested in
Find the value of x in the equation below. 6= x -7
alina1380 [7]

Answer:

x = 13

Step-by-step explanation:

x - 7 = 6

=> x = 6 + 7

=> x = 13

8 0
3 years ago
What is 3000 multiply by 12
sdas [7]
3000 multipled by 12 is 36,000.
6 0
4 years ago
Read 2 more answers
GRAVITATION The height h(t) in feet of an object t seconds after it is propelled straight up from the ground with an initial vel
zhuklara [117]
<h3>Option B</h3><h3>At 2 second and 1.75 second, the object be at a height of 56 feet</h3>

<em><u>Solution:</u></em>

Given that,

<em><u>The height h(t) in feet of an object t seconds after it is propelled straight up from the ground with an initial velocity of 60 feet per second is modeled by the equation:</u></em>

h(t) = -16t^2 + 60t

<em><u>At what times will the object be at a height of 56 feet</u></em>

<em><u>Substitute h = 56</u></em>

56 = -16t^2 + 60t\\\\16t^2 - 60t + 56 = 0\\\\Divide\ the\ equation\ by\ 4\\\\4t^2 - 15t + 14=0

Solve the above equation by quadratic formula

\mathrm{For\:a\:quadratic\:equation\:of\:the\:form\:}ax^2+bx+c=0\mathrm{\:the\:solutions\:are\:}\\\\x=\frac{-b\pm \sqrt{b^2-4ac}}{2a}

\mathrm{For\:}\quad a=4,\:b=-15,\:c=14\\\\x =\frac{-\left(-15\right)\pm \sqrt{\left(-15\right)^2-4\cdot \:4\cdot \:14}}{2\cdot \:4}\\\\Simplify\\\\x = \frac{15 \pm \sqrt{1}}{8}\\\\x = \frac{15 \pm 1}{8}\\\\We\ have\ two\ solutions\\\\x = \frac{15+1}{8} \text{ and } x = \frac{15-1}{8}\\\\x = 2 \text{ and } 1.75

Thus, at 2 second and 1.75 second, the object be at a height of 56 feet

5 0
4 years ago
According to a Gallup poll of 1012 people, about one-third of (32%) of Americans keep a dog for protection. Find the:Margin of E
WINSTONCH [101]
  • The margin of error of the proportion given is of 2.9%.
  • Applying the margin of error, the confidence interval is (29.1%, 34.9%).

-----------------------

The margin of error of a confidence interval of a proportion \pi in a sample of size n, with a confidence level of 1-\alpha, is:

M = z\sqrt{\frac{\pi(1-\pi)}{n}}

In which z is the z-score that has a p-value of 1 - \frac{\alpha}{2}.

The confidence interval is:

\pi \pm M

In this problem:

  • Poll of 1012 people, thus n = 1012.
  • 32% keep a dog, thus \pi = 0.32

95% confidence level

Thus \alpha = 0.05, z is the z-score that has a p-value of 1 - \frac{0.05}{2} = 0.975, so z = 1.96.  

The margin of error is:

M = 1.96\sqrt{\frac{0.32(0.68)}{1012}} = 0.029

As a percent, 2.9%, as 0.029 x 100% = 2.9%.

Now for the confidence interval, which is <u>percentage plus/minus margin of error</u>, thus:

32 - 2.9 = 29.1

32 + 2.9 = 34.9

The confidence interval is (29.1%, 34.9%).

A similar problem is given at brainly.com/question/16807970

4 0
3 years ago
Vance ate a salad and of a turkey burger for dinner. The salad contained 80 calories and his entire meal contained 440 calories.
Andreas93 [3]

80x-440

Step-by-step explanation:

5 0
4 years ago
Other questions:
  • In a large population, 61 % of the people have been vaccinated. if 4 people are randomly selected, what is the probability that
    9·1 answer
  • Can anyone help me out. i dont know what 9x9 equals. what is the prouduct?
    14·2 answers
  • Diane's bird feeder holds 2/3 of a cup of birdseed. Diane is filling the bird feeder with a scoop that holds 1/3 of a cup. How m
    13·2 answers
  • The system of equations y = negative one-fifth x minus 6 and y = –2x + 3 is shown on the graph below.
    9·1 answer
  • What is the radius and diameter of a circle 4.2 cm?
    15·2 answers
  • Determine the measure of angle UVT
    8·1 answer
  • 3/2 + 3/2 + 3/2 = * 1/2
    6·1 answer
  • Sarah needs to cover a triangle that has a base of 3¼ inches and a height of 5½ inches. What is the area that Sarah needs to cov
    14·1 answer
  • Please help and I will mark big brain ​
    9·1 answer
  • Solve for Y: -4x + y = 16a. y = 4x - 4b. y = 4x - 16C. y = -4x + 16d. y = 4x + 16
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!