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
solong [7]
3 years ago
9

9. Suppose you take out a car loan for $9999 for 4 years at a 7.5% interest rate. What is your

Mathematics
1 answer:
Alekssandra [29.7K]3 years ago
3 0

Answer:

The monthly payment is $241.76.

Step-by-step explanation:

Given : Suppose you take out a car loan for $9999 for 4 years at a 7.5% interest rate.

To find : What is your monthly payment ?

Solution :

The formula to find monthly payment is  

M=\frac{\text{Amount}}{\text{Discount factor}}

Discount factor is D=\frac{1-(1+i)^{-n}}{i}

Substitute in the formula,

M=\frac{A}{\frac{1-(1+i)^{-n}}{i}}

M=\frac{A\times i}{1-(1+i)^{-n}}

where, A is the amount A=$9999

r is the rate =7.5%=0.075

i=\frac{r}{12}=\frac{0.075}{12}=0.00625

time t=4 years  

Time in months n=t\times 12=4\times 12=48

Substitute all the values in the formula,

M=\frac{9999\times 0.00625}{1-(1+0.00625)^{-48}}

M=\frac{62.49375}{1-(1.00625)^{-48}}

M=\frac{62.49375}{1-0.7415101}

M=\frac{62.49375}{0.25848}

M=241.76

Therefore, the monthly payment is $241.76.

You might be interested in
Megan was cleaning out her desk drawer.She noticed that there are 6 pencils for every 14 pens in her desk drawer.What percentage
kumpel [21]

Answer:

30% of her writing utensils are pencils.

Step-by-step explanation:

We can get this by dividing the number of pencils by the total number of utensils.

6/20 = .3 = 30%

6 0
3 years ago
Factor -3bk 2 + 9bk - 6b
satela [25.4K]
First you do -3bk+9bk and that equals 6bk then since there are no more like terms the experssion would be simplified into 6bk+2-6b
    HOPE THAT HELPED!
8 0
4 years ago
Find m angle ABC <br> I really need the answer to this
damaskus [11]
To find <ABC, the first thing you would need to do is to find angle DBA and the value of x

As <DBE is a right angle, <DBE is on the same straight line as well,meaning that it would be 90° , a right angle as well.

It also mean that the total sum of the angles unknown would be 90°

To find x,we need to set up an equation:
(2x+14)+ (x+7) = 90
3x+21 = 90
3x = 69
x = 23

Thus,<ABC would be
(23)+7
=30°

Hope it helps!
7 0
3 years ago
Read 2 more answers
-20 + 4x = -6x<br> x = 5<br> x = -5<br> x = 2<br> x = -2
Cerrena [4.2K]

Answer:

x=2

Step-by-step explanation:

Hint use m a t h w a y. Its a algebra problem solver.

4 0
3 years ago
Read 2 more answers
Arlene writes this problem:
irina1246 [14]

Answer:

number 3 or 6 ^w^

your welcome for the help

7 0
3 years ago
Other questions:
  • A state offers two lottery games, WinOne and PlayBall. Both games cost $2 per ticket.
    11·1 answer
  • The mean GPA for 112 residents of the local apartment complex is 1.7. What is the best point estimate for the mean GPA for all r
    13·1 answer
  • Kia wants to have 3 pounds of munchies for her party. She has 20 ounces of popcorn and wants the rest to be pretzel sticks. How
    13·1 answer
  • H(h(x))<br><br> Let h(x)= 2x^2
    11·1 answer
  • PLZ HELP ME!!!!!!<br> if you can buy 35 trumips for $15, then how many can you buy with $3?
    15·2 answers
  • HELP DUE IN 10 MINS! Solve for x in the parallelogram below:<br><br> x=??
    15·2 answers
  • A line has a slope of negative 3 and a y-intercept of 3 what is the x intercept of the line​
    15·1 answer
  • Jean paid $26 for a pair of pants and $19 for a blouse. How much more did she pay for the pants than for the blouse?
    5·2 answers
  • 30×20×14 Plz answer 14 points
    12·2 answers
  • The hypotenuse of a 30 -60 -90 triangle is 13cm. What is the length of the shorter leg?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!