You are told to ignore the amount of principal paid, so you are apparently to assume the loan amount was for $50 thousand.
a) The old monthly payment was $10.67×50 = $533.50
b) The new monthly payment is $11.72×50 = $586.00
c) The increase in monthly payment is figured in the usual way:
... (new/old -1)×100% = (1.0984-1)×100% = 9.84%
_____
In reality, about 3% of the loan will have been paid at the end of 2 years. Thus, the original loan amount may have been near $51,500. This problem is telling you to ignore the difference.
Hello :) we got similar answers but i believe you made a few distributing mistakes! hopefully my work makes sense, if not i’ll totally try to explain more
p.s i might be too late whoops
p.p.s i’m in a higher grade but i haven’t done this kinda math in a longgg time haha so if you think i did something wrong trust your gut ✌️
Answer:
A
Step-by-step explanation:
This sentences implies that to a number multiplied by 3 ( three times a number) 14 needs to be subtracted.
Answer:
<h2><em>
$23.5</em></h2>
Step-by-step explanation:
Gene is playing a game with a bag of marbles. If 3 of the marbles are blue, 4 are green, and 7 are yellow and awarded prices for the marbles are $2 green $0.5 yellow $4 blue, the expected payout for Gens game is expressed as shown;
If a blue marble costs $4, 3 blue marbles will cost 3*$4 = $12
If a green marble costs $2, 4 green marbles will cost 4*$2 = $8.0
If a yellow marble costs $0.5, 7 yellow marbles will cost 7*$0.5 = $3.5
Total payout for Gene's game will be the equivalent to $12+ $8 + $3.5 = $23.5.
<em>Hence Gene expected cost will be $21.5</em>