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nikklg [1K]
3 years ago
9

Simon took out an unsubsidized student loan of $43,000 at a 2.4% APR,

Mathematics
2 answers:
BlackZzzverrR [31]3 years ago
8 0

Answer: $241.16

-----------  APEX :)

Serga [27]3 years ago
7 0

Answer:

$289.41

Step-by-step explanation:

As we know that the total amount 'A' that is due to pay on loan for a certain interest 'r', principal 'p' and number of times the interest is compounded per year 'n' is:

A = p (1+\frac{r}{n})^{nt}

Since, in our case, p = $43,000, r = 2.4% = \frac{2.4}{100} = 0.024, n = 12 (monthly), and t = 20 years.

Therefore,

A = 43000 (1+\frac{0.024}{12})^{(12)(20)}

A = 69457.89$ $

For monthly payment for 20 years,

A = \frac{69457.89}{(12)(20)}

A = 289.407$ ≈ $289.41

Hence,  the amount of his monthly payment lasting for  20 years at APR of 2.4% on a loan of $43,000 compounded monthly will be $289.41.

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6.81 is what percent of 45.5
frosja888 [35]

To get the solution, we are looking for, we need to point out what we know.

1. We assume, that the number 45.5 is 100% - because it's the output value of the task.

2. We assume, that x is the value we are looking for.

3. If 45.5 is 100%, so we can write it down as 45.5=100%.

4. We know, that x is 6.81% of the output value, so we can write it down as x=6.81%.

5. Now we have two simple equations:

1) 45.5=100%

2) x=6.81%

where left sides of both of them have the same units, and both right sides have the same units, so we can do something like that:

45.5/x=100%/6.81%

6. Now we just have to solve the simple equation, and we will get the solution we are looking for.


7. Solution for what is 6.81% of 45.5


45.5/x=100/6.81

(45.5/x)*x=(100/6.81)*x       - we multiply both sides of the equation by x

45.5=14.684287812041*x       - we divide both sides of the equation by (14.684287812041) to get x

45.5/14.684287812041=x

3.09855=x

x=3.09855

now we have:

6.81% of 45.5=3.09855

Hope this helps!

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Answer: there you go

Step-by-step explanation:

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I hope this helps.

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