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
zubka84 [21]
3 years ago
6

Bob has taken out a loan of $15,000 for a term of 48 months (4 years) at an interest rate of 6.5%. Using the amortization table

provided, what will be his total finance
charge over the course of his loan?
Monthly Payment per $1,000 of Principal
Rate 1 Year 2 Years 3 Years 4 Years 5 Years
6.5% $86.30 $44.55 $30.65 $23.71 $19.57
7.0% $86.53 $44.77
$30.88
$23.95
$19.80
7.5% $86.76 $45.00
$31.11
$24.18
$20.04
8.0% $86.99 $45.23
$31.34
$24.41
$20.28
8.5% $87.22 $45.46
$24.65
$24.65
$20.52
9.0% $87.45 $45.68
$31.80
$24.89
$20.76
A.
$355.65
O
B.
$975.00
C.
$1,682.40
D.
$2,071.20
E. $17,071.20
Reset
Next
© 2020 Edmentum. All rights reserved.​
Mathematics
1 answer:
zubka84 [21]3 years ago
5 0

Answer:

  D.  $2071.20

Step-by-step explanation:

The table tells you that Bob's monthly payment on a 4-year loan at 6.5% will be $23.71 per thousand borrowed. The sum of those 48 payments is ...

  48 × $23.71 = $1138.08

That means, Bob pays $138.08 in total finance charge for each $1000 he borrows. He is borrowing 15 times $1000, so his total finance charge will be ...

  finance charge = 15 × $138.08 = $2071.20 . . . matches choice D

You might be interested in
A family read the odometer before starting a trip .It read 22900.6 and they know they will be driving 302.5 miles . What's will
AlexFokin [52]

Answer:

23,203.1

Step-by-step explanation:

Generally, an odometer measures distance traveled during the usage life cycle of a car. It is necessary to say the distance is measured cumulatively.

Now, to get the value the odometer will be reading after the trip, we need to add the present reading of the odometer to the new distance to be traveled.

Thus, the reading of the odometer after the trip will be 22900.6 + 302.5 = 23,203.1

7 0
3 years ago
Can someone please help me with this question??
steposvetlana [31]

Answer:

450

Step-by-step explanation:

3*150 because the 150is your main number or otherwise known as "b" and then 3 is the multiplier so 3 * 150

6 0
3 years ago
Which equation represents a relationship where y is a nonlinear function
IgorC [24]

Step-by-step explanation:

if you use the online graphing calculator it will help you

6 0
3 years ago
Heather has 2 less than 5 times the amount of shoes that Donna has. Gina has 1 more than 2 time
gogolik [260]

Answer:

a. (5x-2)-(2x+1)

b. 3x-3

c.39

Step-by-step explanation:

8 0
3 years ago
The dollar value of a car is a function, f, of the number of years, t, since the car was purchased. The function is defined by t
valentina_108 [34]

Answer:

1.) 12000

2.) 6750

3.) 2.41

Step-by-step explanation:

Given the Equation :

f(t)=12,000(3/4)^t. ; where, t = time ; f(t) = worth of car at time, t

When, car was purchased, t = 0

t = 0

f(0) = 12000(3/4)^0

= 12000 * 1

= 12000

2.)

f(2) ; this mean the worth of the car after 2 years :

f(2)=12,000(3/4)^t.

12000(3/4)^2

12000 * 0.5625

= 6750

When car will be worth 6000

f(t) = 6000

f(t)=12,000(3/4)^t.

6000 = 12,000(3/4)^t

6000 / 12000 = (3/4)^t

1/2 = (3/4)^t

Take the log of both sides :

Log(0.5) = log(0.75)^t

log(0.5) = tlog(0.75)

- 0.301029 = - 0.124938t

t = - 0.301029 / - 0.124938

t = 2.4094

t = 2.41 years

6 0
3 years ago
Other questions:
  • Anybody help plz im stuck with dis question
    14·1 answer
  • N√2^5 . n√2^n-2 . n√2^n-3
    15·1 answer
  • I need help <br><br> Circle P is below
    7·2 answers
  • Is the qoutient of 2 nonzero always an integers
    14·1 answer
  • Simplify the radical expression.
    7·1 answer
  • A while back, either James borrowed $12 from his friend Rita or she borrowed $12 from him, but he can’t quite remember which. Ei
    11·1 answer
  • In their first 11 games last season, the Panthers won 6 times. How many wins would they have had if they played 44 games?
    8·1 answer
  • Elaine can travel 63 meters in 3 second what is Elaine rate of speed?
    14·2 answers
  • Which of the following could be the ratio between the lengths of the two legs
    7·1 answer
  • 1. ) Find the mean for each data set. ROUND FINAL ANSWERS TO THE TENTHS PLACE.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!