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
Pepsi [2]
3 years ago
11

What is the total finance charge for a $4,250 loan at 13.25% interest compounded monthly for 24 months? ( I hate asking for help

, but I am very bad at math... Could someone possibly help me figure it out? By going through the steps)
a.
$25.47
b.
$202.55
c.
$611.20
d.
$4,861.20
Mathematics
2 answers:
antoniya [11.8K]3 years ago
6 0
<span>There is a formula for a loan : A = P * r * ( r + 1 ) ^n / (( r + 1 ) ^n - 1 ), where P is the loan and A is the monthly payment. So P = $4,250 and r = 0.1325 : 12 = 0.011. ( 13.25 % = 0.1325 and we divide it by 12, because the interest is compounded monthly ). A = 4,250 * 0.011 * 1.011^(24) / ( 1.011^(24) - 1 ) = 4,250 * 0.11 * 1.3 / 0.3 = 4,250 * 0.0477; A = $202.55. Finally we have to multiply this sum by 24 : the total finance charge: $202.55 * 24 = $ 4,861.20. Answer: D ) $4,861.20 </span>
Nataliya [291]3 years ago
6 0

the correct answer is c


You might be interested in
Apply the Binomial Theorem to the expression (x^2+1)^2
KiRa [710]

Answer:

Step-by-step explanation:

(x^2 +1)(x^2 +1)

x^4 +x^2+x^2 +1

x^4+2x^2 +1 answer

Hope this helps!

6 0
3 years ago
Read 2 more answers
A professor has recorded exam grades for 20 students in his​ class, but one of the grades is no longer readable. If the mean sco
Ivenika [448]

Answer:

5

Step-by-step explanation:

To obtain the total score for all the 20 students, we multiply the average score by the number hence

Total score for all 20 is 81*20=1620

Similarly, for the 19 students, the sum of their total score equals the product of the average and number of students hence

Total score for 19 readable is 19*85=1615

The difference between these two total scores ie for 20 and 19 students equals to the value of unreadable score. Therefore,

Difference=1620-1615=5

Therefore, the value of unreadable score is 5

3 0
3 years ago
Rewrite 2x+5y=3 using function notation​
marishachu [46]

Answer:

Given f(x) = x2 + 3x – 1, find

a) f(1)

b) f(–1)

c) f(a)

d) f(x – 1)

Step-by-step explanation:

a) f(1) = (1)2 + 3(1) – 1 = 3

b) f(–1) = (–1)2 + 3(–1) – 1 = –3

c) f(a) = a2 + 3a – 1

d) f(x – 1) = (x – 1)2 + 3(x – 1) – 1

= x2 – 2x + 1 + 3x – 3 – 1 = x2 + x –3

5 0
3 years ago
Find the sum 4.12+7<br>​
marin [14]

Answer:

11.12

Step-by-step explanation:

4.12

+7

-----

11.12

7+4= 11

11 + .12 = 11.12

8 0
3 years ago
Which of the following options have the same value 96 percent of 25
White raven [17]

Answer:

96

Step-by-step explanation:

96 x 100 divided by 25 simplifiy first if needed

8 0
3 years ago
Other questions:
  • Does anyone know how to solve this?
    7·2 answers
  • Kamal’s bedroom has an area of 120 square feet. The width of the room is 5/6 the length of the room. What are the dimensions of
    11·1 answer
  • Sora was given two data sets, one without an outlier and one with an outlier. Data without an outlier: 108, 113, 105, 118, 124,
    15·2 answers
  • According to the Venn diagram what type of parallelogram is both a rectangle and a rhombus
    9·2 answers
  • Which rational number equals 0 point 6 with bar over 6?
    8·1 answer
  • What is the recipricol of 1000​
    6·2 answers
  • Taylor runs everyday in June except Sunday’s. He wants to run 21 miles this week and he plans to run the same number of miles ea
    12·1 answer
  • Which is the length of —<br> BG
    7·2 answers
  • Help me understand this is confusing
    15·2 answers
  • The cost of 1 purse and 1 watch is £27.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!