Which ordered pair is a solution of 3y - 4x = 2?
1 answer:
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Answer:
C. $144,200
Step-by-step explanation:
We have been given that a borrower's monthly interest payment on an interest-only loan at an annual interest rate of 7.3% is $877.
To find the loan amount, we will use simple interest formula.
, where,
I = Amount of interest,
P = Principal amount,
r = Annual interest rate in decimal form,
t = Time in years.
One month will be equal to 1/12 year.
Upon substituting our given values in simple interest formula, we will get:
Upon rounding to nearest hundred, we will get:
Therefore, the loan amount was $144,200 and option C is the correct choice.
→ You will pay $ 89.7.
The tip value is based on the bill value. Hence, to find the total payment you have to <u>multiply 78 by 1.15</u> (this includes the tip, 1.15).
Or you can <u>first find how many</u> 15% is from $78:
And then add this to $78:
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