Answer:20 months
Step-by-step explanation:
2% of 1000 is 20 1000-1400=400
400/20=20 so 20 months
Given:
loan amount: 25,250
original interest rate: 3.4%
new interest rate: 6.8%
term: 10 years.
Assuming that simple interest formula is used.
I = P * r * t
I = interest
P = principal
r = interest rate
t = term/time
I = 25,250 * 3.4% * 10 years
I = 8,585
I = 25,250 * 6.8% * 10 years
I = 17,170
17,170 - 8,585 = 8,585 Additional interest paid using the new interest rate.
Using an online loan repayment calculator: Here are the following data:
Loan Balance:$25,250.00
Adjusted Loan Balance:$25,250.00Loan
Interest Rate:6.80%
Loan Fees:0.00%
Loan Term:10 years
Minimum Payment:$0.00
Monthly Loan Payment:$290.58
Number of Payments:120
Cumulative Payments:$34,869.23
Total Interest Paid:$9,619.23
<span><span>Loan Balance:$25,250.00
</span><span>Adjusted Loan Balance:$25,250.00
</span><span>Loan Interest Rate:3.40%
</span><span>Loan Fees:0.00%
</span><span>Loan Term:10 years
</span><span>Minimum Payment:$0.00</span>
<span>Monthly Loan Payment:$248.51
</span><span>Number of Payments:120</span>
<span>Cumulative Payments:$29,820.59
</span><span>Total Interest Paid:<span>$4,570.59</span></span></span>
9514 1404 393
Answer:
A. $0.85
Step-by-step explanation:
Each time m increases by 1, the cost goes up by $0.85.
The cost per mile is $0.85.
<h3>
It is a function</h3>
Why? Because each input maps to <u>exactly one</u> output. The input oval represents the domain (set of all possible inputs). The output oval is the range, which is the set of all possible outputs. If we had something like the input 0 mapping to the outputs 2 and 4 at the same time, then we wouldn't have a function.
