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
Flauer [41]
3 years ago
12

The business manager of paws and claws pet supply arranges a loan of $3,500, at 6.5% interest, for 30 months. find the amount of

interest.
Mathematics
1 answer:
fomenos3 years ago
4 0
You will need to use the total loan cost formula which can be found here:
http://www.1728.org/loanfrm4.htm

Total Loan Cost = [(rate * princ)/ (1-(1+r)^-n)] * n
where "n" is the number of payments which in this case is 30
the rate is entered as (6.5 / 1,200) or <span> <span> <span> 0.0054166667 </span> </span> </span>

Total Loan Cost = [(<span> <span> 0.0054166667 </span> * 3,500) / (1-(1</span><span>.0054166667)^-30)] * 30
</span>
Total Loan Cost =  [<span> <span> <span> (18.95833345) /  </span> </span> </span> (1- <span> <span> <span> 0.8503889213 </span> </span> </span> )] * 30

Total Loan Cost =  <span> <span> </span></span><span><span>[18.95833345 / </span>0.1496110787</span>] * 30

Total Loan Cost =  <span> <span> <span> 126.717443753  </span> </span> </span> * 30

<span><span>Total Loan Cost =  3,801.52</span> </span>

By calculating <span> 3,801.52 minus 3,500.00 we get the amount of interest
</span>
<span> <span> <span> 301.52

</span></span></span>
You might be interested in
On Monday, during a one day sale, the price of a suit was decreased by 20%. On Tuesday, the price of the suit was changed back t
nignag [31]

Answer:

25%

Step-by-step explanation:

If we consider the original price of the piece of suit is x.

Given that, on Monday during a one day sale, the price of the suit was decreased by 20%.

Therefore, the new price of the suit on Monday is x( 1 - \frac{20}{100}) = 0.8x.

Now, the price of the suit on Tuesday was changed back to the original price i.e. x.

Therefore, the price is increase by (x - 0.8x) = 0.2x from the price of 0.8x.

So, the percentage change in price of the suit on Tuesday is \frac{0.2x}{0.8x} \times 100 = 25%. (Answer)

8 0
3 years ago
What is the solution set
netineya [11]
The answer is c as -2 is -2/1 , -2/1 times 1/2 equals -1 which makes it so If x is -2 or less than it won’t exceed -1
4 0
3 years ago
If 1 yard = 3 feet and 1 mile = 5,280 feet, how many yards are there in 1miles?
slavikrds [6]

1 yard = 3 feet

1 mile = 5,280 feet

So, 1 mile = 5,280/3 yards = 1760 yards

8 0
3 years ago
Franco se quedó en un hotel por 5 noches. La habitación del hotel cuesta $ 92 por noche. Tenía un cupón de $ 10 de su factura to
lesya [120]

Answer:

Serian $460 per si tiene un cupon de $10 serian $450

Step-by-step explanation:

Para encontrar el resultado multiplica 92x5= 460 y si tiene un cupon de $10 lo restas y da a un total de $450

3 0
3 years ago
If a line contains the point (0, -1) and has a slope of 2, then which of the following points also lies on the line?
enot [183]

Answer:

(1,1)

Step-by-step explanation:

8 0
3 years ago
Read 2 more answers
Other questions:
  • The sum of two complementary angles is 90° Angle A is represented by 3x - 10, and Angle B is represented by x. Solve for x Hint:
    10·1 answer
  • The volume of this cube is 64 cubic units. What's the edge length?
    13·1 answer
  • Solve the compound inequality 7x ≥ –56 and 9x &lt; 54
    6·1 answer
  • Need help with questions like this please message me if you can help
    14·1 answer
  • # 14 Q. Write a congruence
    15·2 answers
  • Multiplicative inverse of 21/49​
    15·1 answer
  • Which polynomial function has a leading coefficient of 1 and roots 2i and 3i with multiplicity 1?
    12·2 answers
  • 48 ÷ [(5 + 16) − 13]
    12·1 answer
  • "The more miles a person runs, the more calories the person burns."
    14·2 answers
  • Please help! <br><br> explain and correct the error in this calculation
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!