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
poizon [28]
2 years ago
10

Brenda took out a personal loan for $12,000 at an interest rate of 12% compounded monthly. She made arrangements to pay the loan

off in 5 years. What will her monthly payment be?
Mathematics
1 answer:
iragen [17]2 years ago
7 0

Answer: her monthly payments would be $267

Step-by-step explanation:

We would apply the periodic interest rate formula which is expressed as

P = a/[{(1+r)^n]-1}/{r(1+r)^n}]

Where

P represents the monthly payments.

a represents the amount of the loan

r represents the annual rate.

n represents number of monthly payments. Therefore

a = $12000

r = 0.12/12 = 0.01

n = 12 × 5 = 60

Therefore,

P = 12000/[{(1+0.01)^60]-1}/{0.01(1+0.01)^60}]

12000/[{(1.01)^60]-1}/{0.01(1.01)^60}]

P = 12000/{1.817 -1}/[0.01(1.817)]

P = 12000/(0.817/0.01817)

P = 12000/44.96

P = $267

You might be interested in
A science test, which is worth 100 points, consists of 24 questions. Each question is worth either 3 points or 5 points. If x is
aniked [119]

Answer:

10 three-point questions and 14 five-point questions.

Step-by-step explanation:

x+y = 24

3x+5y = 100

We can solve this system of equations using elimination. In order to do this, let's first multiply the first equation by 3...

3x+3y=72

3x+5y=100

Now, subtract the first equation from the second equation...

2y=28

Divide both sides by 2

y=14

Plug this back into any of the equations to solve for x...

x+14=24

x=10

There were 10 three-point questions and 14 five-point questions

7 0
2 years ago
#1 What is the explicit equation of the sequence 10125, 2025, 405, 81, ..? *
vazorg [7]
405/81=5
10125/2025=5

It seems like it divided by 5 each time.

So, the nth term of the sequence is (50625)n^(-5)
7 0
3 years ago
Dharma and Jorge are looking at cell phone plans. A
riadik2000 [5.3K]

Answer:

Dharma and Jorge should purchase a group plan.

They could save $9.55

Step-by-step explanation:

A group plan will cost an average of $135.95 per month.

An individual plan will cost an average of $72.75 per month.

Two individual plans will cost an average of

\$72.75\cdot 2=\$145.50

per month.

Since $145.50 > $135.95,  Dharma and Jorge should purchase a group plan.

They could save

\$145.50-\$135.95=\$9.55

4 0
3 years ago
Because sample means were being tested the ____ is used to calculate the z-score
SSSSS [86.1K]

Answer: standard deviation

Step-by-step explanation:

7 0
3 years ago
Htdtdeyt5ey5jed6yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuurrrrrrrrrrrrrrrrrrrrrrrrrr
raketka [301]

Answer: ok LOL thx XD

Step-by-step explanation: BRAINLIEST PLS

8 0
2 years ago
Other questions:
  • CAN SOMEONE HELP ME FIND THE AREA OF THIS TRIANGLE
    10·2 answers
  • Which of the following is an x-intercept of the function, f(x) = x^2 - 64 ?
    5·1 answer
  • You are asked to draw a triangle with side lengths of 3 inches, 4 inches, and 1 inch. How many triangles like this can you draw?
    6·1 answer
  • Will give brainliest! and EXTRA points.
    11·1 answer
  • How many times does two over three go into three over nine?
    5·1 answer
  • Contruct triangle LMN with LM=6cm,MM=9cm and LN =5cm ​
    7·1 answer
  • The Hu family goes out for lunch, and the price of the meal is $54. The sales tax on the meal is 7%, and the
    8·1 answer
  • If C = 2x^2+5x-1 and D = x-1 find an expression that equals C-3D in standard form.
    12·1 answer
  • I have 2 questions, What is the smallest power of ten that exceeds 89,876,230,128,970?
    7·1 answer
  • Carl makes $10.25 per hour, h, plus a daily bonus of $25. Which equation represents his total earnings, t, each day?​
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!