Answer: the total lifetime cost for the loan is $11616.4
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total cost of the loan at the end of t years.
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount borrowed.
From the information given,
P = $5,500
r = 7.5% = 7.5/100 = 0.075
n = 12 because it was compounded 12 times in a year.
t = 10 years
Therefore,
A = 5500(1 + 0.075/12)^12 × 10
A = 5500(1 + 0.00625)^120
A = 5500(1.00625)^120
A = $11616.4
A method to solve such problems is to consider the rate of change of the angle in degrees per minute. The hour hand of a normal 12-hour analogue clock turns 360° in 12 hours (720 minutes) or 0.5° per minute. The minute hand rotates through 360° in 60 minutes or 6° per minute.
Answer:
We can create a one-variable equation and solve for x.
we set 35.25+0.11x equal to 14.25+0.32x
35.25+0.11x=14.25+0.32x
then we just solve for x to get 100
Step-by-step explanation:
Answer:
Area of shaded region = 134.13 square feet
Step-by-step explanation:
Area of the shaded region = Area of square - Area of circle
