It can either be -12 and -10 or it could be 10 and 12
Answer:
A
Step-by-step explanation:
Got it right on edge
You would have 14/6ths. Work: 7/2x3=21/6, 21/3=7, 7x2=14.
Answer:
It would be 15
Step-by-step explanation:
because 5x3 equals 15.
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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