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
Zinaida [17]
3 years ago
9

Larry is considering taking out a loan. He estimates that he can afford monthly payments of $265 for 10 years in order to suppor

t his loan. He finds that with an APR 5.5 compounded monthly he can take a loan of $24,418.05
Assuming that Larry’s monthly payment and the length of the loan remain fixed which of these statements is true about the size of the loan Larry could take if he received a different APR?

Mathematics
2 answers:
Ahat [919]3 years ago
5 0

Answer:

D

Step-by-step explanation:

the guy above explained

spayn [35]3 years ago
4 0

Answer:

option-C

option-D

Step-by-step explanation:

we are given

He estimates that he can afford monthly payments of $265 for 10 years in order to support his loan

so, firstly we will find total amount

A=265\times 12\times 10

A=31800

now, we can verify each options

option-A:

r=6.6% =0.066

Amount is same

A=31800

now, we can use APR formula

A=P(1+\frac{r}{n})^{nt}

It is compounded monthly

so, n=12

we can plug it and then we can solve for P

31800=P(1+\frac{0.066}{12})^{12\times 10}

P=16465.6215

we can see that it is less than 24418.05

So, this is FALSE

option-B:

r=6.2% =0.062

Amount is same

A=31800

now, we can use APR formula

A=P(1+\frac{r}{n})^{nt}

It is compounded monthly

so, n=12

we can plug it and then we can solve for P

31800=P(1+\frac{0.062}{12})^{12\times 10}

P=17133.96

we can see that it is less than 24418.05

So, this is FALSE

option-C:

r=5.2% =0.052

Amount is same

A=31800

now, we can use APR formula

A=P(1+\frac{r}{n})^{nt}

It is compounded monthly

so, n=12

we can plug it and then we can solve for P

31800=P(1+\frac{0.052}{12})^{12\times 10}

P=18927.00451

we can see that it is less than 24418.05

So, this is TRUE

option-D:

r=5.8% =0.058

Amount is same

A=31800

now, we can use APR formula

A=P(1+\frac{r}{n})^{nt}

It is compounded monthly

so, n=12

we can plug it and then we can solve for P

31800=P(1+\frac{0.058}{12})^{12\times 10}

P=17829.66

we can see that it is less than 24418.05

So, this is TRUE


You might be interested in
According to the box-and-whisker plot shown above, what are the following:
Readme [11.4K]

Answer:

  6.  80

  7.  60

  8.  100

  9.  40

  10.  110

Step-by-step explanation:

A box and whisker plot is a visual representation of the 5-number summary of a data set. The features of the plot are, left-to-right, the minimum, first quartile, median, third quartile, maximum.

You are being asked to identify the numerical value associated with each of these features.

__

The left whisker extends to the minimum of 40.

The left end of the box identifies the first quartile as 60.

The line in the middle of the box is the median, 80.

The right end of the box identifies the third quartile as 100.

The right whisker extends to the maximum of 110.

__

<em>Additional comment</em>

We hope you can rearrange the order of these numbers to suit the order in which the questions ask for them.

4 0
2 years ago
What is the prduct of 33 and 6925?
liubo4ka [24]

Answer:

228525-Look below for steps:)

Step-by-step explanation:

Step 1:

6925

*   33

______

Step 2:

5*3=15

carry the one

3*2+1=7

9*3=27

carry the 2

6*3+2=20

SO your first number is 20775 but we are NOT done yet!

add a zero below 5

5*3=15

carry the one

3*2+1=7

9*3=27 carry the 2

then 6*3+2=20

then add 207750+20775

which equals....

228525

so 228525 is your answer!!!

<em>I really do hope this made sense!</em>

<em>Have a great day!</em>

<em>- Hailey: D</em>

<em>(NOTHING IS COPIED AND PASTED!!!!!)</em>

3 0
3 years ago
Francis works at Carlos Bakery and is making cookie trays. She has 48 chocolate chip cookies, 64 rainbow cookies, and 120 oatmea
amm1812

The number of cookies and trays are illustrations of greatest common factors.

  • The number of trays is 8
  • 6 chocolate chips, 8 rainbows and 15 oatmeal cookies would fit each tray

The given parameters are:

\mathbf{Chocolate\ chip=48}

\mathbf{Rainbow=64}

\mathbf{Oatmeal=120}

<u>(a) The number of trays</u>

To do this, we simply calculate the greatest common factor of 48, 64 and 120

Factorize the numbers, as follows:

\mathbf{48 = 2 \times 2 \times 2 \times 2 \times 3}

\mathbf{64 = 2 \times 2 \times 2 \times 2 \times 2 \times 2}

\mathbf{120 = 2 \times 2 \times 2 \times 3 \times 5}

So, the GCF is:

\mathbf{GCF= 2 \times 2 \times 2}

\mathbf{GCF= 8}

Hence, the number of tray is 8

<u>(b) The number of each type of cookie</u>

We have

\mathbf{Chocolate\ chip=48}

\mathbf{Rainbow=64}

\mathbf{Oatmeal=120}

Divide each cookie by the number of trays

So, we have:

\mathbf{Chocolate\ chip = \frac{48}{8} = 6}

\mathbf{Rainbow = \frac{64}{8} = 8}

\mathbf{Oatmeal = \frac{150}{8} = 15}

Hence, 6 chocolate chips, 8 rainbows and 15 oatmeal cookies would fit each tray

Read more about greatest common factors at:

brainly.com/question/11221202

4 0
2 years ago
Please I don't Know Fractions
V125BC [204]

Answer:

11%

Step-by-step explanation:

1/3 (twix)

1/3 (snicker)

1/3 x 1/3 = 1/9

1/9 = .11

.11 = 11%

5 0
3 years ago
Find the midpoint between (-1, -1) and (-9,6).?
ryzh [129]

Answer:

(-5,-3.5) is the midpoint

Step-by-step explanation:

See photo for the step-by-step explanation

7 0
3 years ago
Read 2 more answers
Other questions:
  • F(x) = -5x<br> g(x) = 8x^2 - 5x - 9<br> find (f•g)(x)
    5·1 answer
  • Before being put out of service, the supersonic jet Concorde made a trip averaging 120 mi/h less than the speed of sound for 0.1
    6·1 answer
  • For every six hot dogs that are shipped to a store, two hamburgers are shipped. Yesterday, 12 hamburgers were added making the a
    6·1 answer
  • Factor with directions above in picture. Thank you<br><br> X^2+7x-6x-42
    14·2 answers
  • Does the ordered pair (−5,−5) satisfy the following system of equations?<br> {−3x−3y=125x+5y=−20
    15·1 answer
  • Rachel, Mario and Sanjit share some money in the ratios 4:3:9
    5·1 answer
  • Explain how you know 6 8ths and 1 are equivalent
    11·1 answer
  • Sara borrows
    15·1 answer
  • What is 2+2 +2+2+22+22+22+22+22+22+22+22+22+22+22+22+22+22+22+22+2
    14·2 answers
  • I WILL GIVE 30 POINTS TO THOSE WHO FILL IN THE BLANK CORRECTLY
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!