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zysi [14]
3 years ago
15

You have just finished paying off your $35,125 loan, a feat which took ten years of quarterly payments. The loan had an interest

rate of 7.44%, compounded quarterly. If you also paid $5,180.70 in service charges, what percentage of the total cost was made up by your finance charges? Round all dollar values to the nearest cent
Mathematics
2 answers:
yKpoI14uk [10]3 years ago
6 0
Quarterly payment (before Svc Chg): PV 35,125, N 40, R 1.86% computes to Annuity of 1,252.70

Total paid (1,252.70 x 40) 50,108 - 35,125 = 14,983 Interest paid + 5,180.70 Svc Chg = 20,163.70, of which Svc Chg was 25.69%
klasskru [66]3 years ago
3 0
B. 36.47% is the correct answer to this question.
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Answer:

44.8 mph

Step-by-step explanation:

Betsy drove from london to wolverhampton.it took her 2.5 hours at an average speed of 56 miles per hour.Mac drove the same journy by motor bike.It took him 2 hours.Assuming that both took the same route,work out Mac's average speed in mph.

The above question is solved using Proportion method

2.5 hours = 56 mph

2 hours = x mph

Cross Multiply

2.5 hours × x mph = 2 hours × 56 mph

x mph = 2 hours × 56 mph/2.5 hours

x mph = 44.8 mph

Therefore, Mac's average speed = 44.8 mph

4 0
3 years ago
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6 0
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Anestetic [448]

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