False
on the left, there is 2 negatives, which cannot result in a negative number on the right
The balance of the loan at 14 months= $10,561.25
It would take a total 23 months to pay off the loan.
The total amount of money paid for the car is = $9,052.5
<h3>Calculation of loan compounded monthly</h3>
The total loan for the car = $8,500
The rate at which the loan is compounded monthly is
= 6.5%
The monthly payment for the loan = $390
- To calculate the balance of the loan at 14 months;
Find the simple interest
= P×T×R/100
= 8,500 × 1 × 6.5/100
= 55,250/100
= $552.5
If 12 months = 8,500 + 552.5
14 months = X
make X the subject of formula,
X = 14 × 9052.5/12
X= 126,735/12
X = $10,561.25
- To calculate the period of time it will take to pay off the loan
The amount paid monthly = $390
The amount to be paid for the loan with interest = 8,500 + 552.5 = $9,052.5
If 1 month = $390
× month = $9,052.5
Make X the subject of formula,
X = $9,052.5/$390
X= 23 months
The total amount of money paid for the car is already calculated which is through the simple interest
= P×T×R/100
= 8,500 × 1 × 6.5/100
= 55,250/100
= $552.5
- Total amount of money paid for the car
= 8,500 + 552.5
= $9,052.5
Learn more about simple interest here:
brainly.com/question/20690803
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Answer:
Y-intercept = 13
Step-by-step explanation:
Since, given points are:
(-2,5) and (3,25)
Now, by slope intercept form:
y= mx + b
Here, m= slope and b= y-intercept
In order to find y-intercept, we must find slope firstly:
Since,
Slope= m= y2-y1 / x2-x1
m= 25 - 5 / 3 - (-2)
m= 20 / 5
m= 4
Put ‘m’ in slope intercept form:
y= 4x + b
Substitute either point into above equation:
25= 4(3) +b
25= 12 + b
25 - 12 = b
or b= 25 - 12
b= 13
Hence, y-intercept is 13.
Answer:
ones
Step-by-step explanation:
