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
vesna_86 [32]
3 years ago
11

Helena has taken out a $9,300 unsubsidized Stafford loan to pay for her college education. She plans to graduate in four years.

The loan has a duration of ten years and an interest rate of 6.4%, compounded monthly. By the time Helena graduates, how much greater will the amount of interest capitalized be than the minimum amount that she could pay to prevent interest capitalization? Round all dollar values to the nearest cent.
Mathematics
2 answers:
kherson [118]3 years ago
8 0
The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16

The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72

The answer is $1999.72.
babymother [125]3 years ago
7 0

Answer:

$324.33

Step-by-step explanation:

You might be interested in
A base ball diamond is square.The distance from home plate to first base is 90 feet.what is the distance from home plate to seco
Elena-2011 [213]

Because it is square, the distance from home to first base is the same as first base to second base.


Home to First is one side of a right triangle, first to second is the second side of the right triangle and then home to second base would be the hypotenuse of a right triangle.


Using the Pythagorean Theorem we can solve for the hypotenuse:

Let C = the hypotenuse:

90^2 + 90^2 = c^2

8100 + 8100 = c^2

16200 = c^2

c = √16200

c = 127.279 feet, round to 127 feet.


7 0
3 years ago
3
Ivanshal [37]
Im not rlly that good at math but I believe in u smart ppl
4 0
3 years ago
I need help this is hard please help me
Mademuasel [1]

Answer:

P(t)=25000+1.12t

Step-by-step explanation:

Now can you help me?

A basketball is thrown upwards. The height f(t), in feet, of the basketball at time t, in seconds, is given by the following function:

f(t) = −16t2 + 16t + 32

Which of the following is a reasonable domain of the graph of the function when the basketball falls from its maximum height to the ground?

3 0
3 years ago
Read 2 more answers
Which describes changing an angle of rotation?
givi [52]
I think the answer is B). because if the angle is changed if it turned on a fixed point. its changed if it translated or if the rays are changed, neither is it changed if it translated to the right either.
3 0
3 years ago
Read 2 more answers
What is 706 × 76? cuz u suck at math
blsea [12.9K]
53,656 is the answer.
4 0
3 years ago
Read 2 more answers
Other questions:
  • Find the unit rate. Calvin scored 36 points in 6 games.
    14·1 answer
  • Vivian can grow three plants with every seed packet. With three seed packets how many total plants can Vivian have in her backya
    10·1 answer
  • Five individuals from an animal population thought to be near extinction in a certain region have been caught, tagged, and relea
    15·1 answer
  • What is the value of 12x+y(3-23)/5<br> when x = -5 and y = 7?
    12·2 answers
  • If a truck travels for 3 hours, how many miles will it travel? __ miles
    15·2 answers
  • Is this a function?<br> (-2,3) (-3,3) (2,-3) (3,-3)
    5·2 answers
  • Find the next 3 terms of each sequence<br> 1. [4, 8, 12, 16 ...}
    10·1 answer
  • Plz help me I dont understand
    5·1 answer
  • a lump sum of $2000 is invested at 4.2% compounded continuously. (a) write the function for the model that gives the future valu
    11·1 answer
  • Identify the variation as a direct, inverse, joint, or combined.<br> xy/z=c
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!