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deff fn [24]
3 years ago
5

It is estimated that the average amount owed for student loans in 2010 was $25,250 per student.  If the interest rate for studen

t loans increases to 6.8%, estimate how much more students will pay over a 10-year repayment period for this “average amount owed” as compared with 3.4%
Mathematics
1 answer:
Nostrana [21]3 years ago
6 0
Given:
loan amount: 25,250
original interest rate: 3.4%
new interest rate: 6.8%
term: 10 years.

Assuming that simple interest formula is used.
I = P * r * t
I = interest
P = principal
r = interest rate
t = term/time

I = 25,250 * 3.4% * 10 years
I = 8,585

I = 25,250 * 6.8% * 10 years
I = 17,170

17,170 - 8,585 = 8,585 Additional interest paid using the new interest rate.

Using an online loan repayment calculator: Here are the following data:
Loan Balance:$25,250.00
Adjusted Loan Balance:$25,250.00Loan
Interest Rate:6.80%
Loan Fees:0.00%
Loan Term:10 years
Minimum Payment:$0.00
Monthly Loan Payment:$290.58
Number of Payments:120
Cumulative Payments:$34,869.23
Total Interest Paid:$9,619.23

<span><span>Loan Balance:$25,250.00
</span><span>Adjusted Loan Balance:$25,250.00
</span><span>Loan Interest Rate:3.40%
</span><span>Loan Fees:0.00%
</span><span>Loan Term:10 years
</span><span>Minimum Payment:$0.00</span>
<span>Monthly Loan Payment:$248.51
</span><span>Number of Payments:120</span>
<span>Cumulative Payments:$29,820.59
</span><span>Total Interest Paid:<span>$4,570.59</span></span></span>
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3 years ago
The LCM of two numbers in 2310 and their HCF.
ruslelena [56]

Answer:

The other number is 330

Step-by-step explanation:

The computation of the other number is shown below:

As we know that

HCF × LCM = Product of Two Numbers

So,

30 × 2310 = 210 × other number

Now

The other number is

= (30 ×  2310) ÷ 210

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hence, the other number is 330 and the same is to be considered

We simply applied the above formula so that the correct answer could come

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3 years ago
Which number sentence has a difference of 5?<br> 8-(-3)<br> 0<br> -3-8<br> -3-(-8)<br> 3-(-8)
valina [46]

Answer:

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6 0
3 years ago
Kayla says that the point labeled C in the diagram below is the center. Raymond says that point C is the radius.
frutty [35]

Answer:

Kayla is correct The center is a fixed  point in the middle of the sphere

Step-by-step explanation:

In mathematics we have certain habit of rules for notation of points, coordinates, segments, angles and so on.

Usually we denote points,  by letters even more we denote with the first letter of the object we are denoting

Occasionally, we also denote  segments as radius in a circle and in a sphere, with letters,  that is r stands for  radius, h stands for height, in most cases we denote point for capital letters ( in a segment)  

When we denote radius, with small letter it should be placed at the center or over the segment we are traying to denote.

For points we only need to place the letter close to the to the point we want to denote.

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3 years ago
Read 2 more answers
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