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3 years ago

Michelle borrowed $10,125 at 12.5 percent for 10 years. What is her monthly payment

Mathematics

2 answers:

mezya [45]3 years ago

8 0

Answer:

Michelle's monthly payment will be $148.21.

Step-by-step explanation:

The EMI formula is =

$\frac{p\times r\times(1+r)^{n} }{(1+r)^{n}-1}$

Here,

p = $10125

r = $12.5/12/100=0.010417$

n = $10\times12=120$

Putting all these values in the formula we get,

$\frac{10125\times0.010417\times(1+0.010417)^{120} }{(1+0.010417)^{120}-1}$

=> $\frac{10125\times0.010417\times(1.010417)^{120} }{(1.010417)^{120}-1}$

=$148.21

So, Michelle's monthly payment will be $148.21.

mash [69]3 years ago

7 0

Answer:

$148.21

Step-by-step explanation:

A suitable financial calculator, web site, or spreadsheet can figure this for you. Or you can use the formula given in your reference material (text or web site).

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A baker has 14.6 pounds of flour and 5 5/4 pounds of butter.How many more pounds of flour than butter does the baker have.

navik [9.2K]

Answer:

8.35

Step-by-step explanation:

Butter : 5 5/4 = 25/4 = 6.25

Flour - Butter = 14.6 - 6.25

= 8.35

6 0

3 years ago

Side a of the triangle is a utility pole. Henry would like to know how long the guy wire, c, should be.

jasenka [17]

We know that the pole is perpendicular to the ground

And that the length of the pole is 20 feet tall, and the base is 15 feet

Now, the guy wire is a wire that provides support to the pole by connecting the top of the pole to the ground

So this represents a right angled triangle (refer image), and the hypotenuse is the length of the guy wire

Using Pythagoras theorem, we can find out the length of the hypotenuse

⇒ Hypotenuse² = Perpendicular² + Base²

⇒ Hypotenuse² = 20² + 15²

⇒ Hypotenuse² = 400+225

⇒ Hypotenuse² = 625

⇒ Hypotenuse = √625

⇒ Hypotenuse = 25

Hence, the correct option is B 25 ft.

6 0

3 years ago

Joshua’s computer loan statement said he would pay $1,244.34 in simple interest for a three-year loan at 12.4%. How much did Jos

rusak2 [61]

Answer: Josh borrowed $ 876 to buy the computer.

Step-by-step explanation:

Formula for simple interest : I = Prt

, where P = principal amount

r= rate of interest ( in decimal)

t=time (in years)

Total amount with simple interest to pay : A = P+I

⇒ A = P +Prt

⇒ A = P(1 +rt) (i)

As per given , A = $1,244.34

r= 12.4% = 0.124

t= 3 years

Now, put these values in (i) , we get

$1244.34=P(1+0.124)^3\\\\\Rightarrow\ 1244.34=P(1.124)^3\\\\\Rightarrow\ 1244.34=P(1.420034624)\\\\\Rightarrow\ P=\dfrac{1244.34}{1.420034624}\\\\\Rightarrow\ P=876.27$