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melisa1 [442]
3 years ago
14

Adam has a balance of $10,000 on a loan with an annual interest rate of 7%. To pay off the $10,000 in 4 years, Adam will have to

make a minimum payment of $239.46 per month. To pay off the $10,000 in 7 years, Adam will have to make a minimum payment of $150.93 per month. How much more interest will Adam pay when the length of the loan changes from 4 years to 7 years? A) $988.20 B) $1,008.52 C) $1,184.04 D) $1,358.33
Mathematics
1 answer:
Angelina_Jolie [31]3 years ago
3 0

Answer:

$1184.04

Step-by-step explanation:

To pay off the $10,000 in 4 years, Adam will have to make a minimum payment of $239.46 per month.

So, the total amount that Adam has to pay back within 4 years with interest = $(239.46 × 4 × 12) = $11494.08

Again, to pay off the $10,000 in 7 years, Adam will have to make a minimum payment of $150.93 per month.

So, the total amount that Adam has to pay back within 7 years with interest = $(150.93 × 7 × 12) = $12678.12

Therefore, Adam has to pay $(12678.12 - 11494.08) = $1184.04 more interest when the length of the loan changes from 4 years to 7 years. (Answer)

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3 years ago
Determine the value of c so that f(x) is continuous on the entire real line when
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Answer:

A. -4

Step-by-step explanation:

Given the function f(x) = x + 3 for x ≤ -1 and 2x - c for x > -1, for the function to be continuous, the right hand limit of the function must be equal to its left hand limit.

For the left hand limit;

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f-(-1) = 2

For the right hand limit, the function occurs at x>-1

f+(x) = 2x-c

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For the function f(x) to be continuous on the entire real line at x = -1, then

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On equating both sides:

2 = -2-c

Add 2 to both sides

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4 =-c

Multiply both sides by minus.

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c = -4

Hence the value of c so that f(x) is continuous on the entire real line is -4

6 0
3 years ago
A group of 6 students was playing a game. Each student had a score of -90 at the end of the first round. What was the total of t
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Answer:

Solution of the equation 4x + 5 = 3x + 4 is:

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Step-by-step explanation:

We are given a equation:

4x + 5 = 3x + 4

We have to solve the equation for x

4x+5=3x+4

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4x|+1-4x=3x-4x

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Hence, solution of the equation 4x + 5 = 3x + 4 is:

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5 0
3 years ago
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