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Luda [366]
3 years ago
15

Please help me thank you and show all work.

Mathematics
1 answer:
Kipish [7]3 years ago
7 0
A²+b²=c²
15²+x²=17²
225+x²=289
-225     -225
x²=64
x=8
The length of the missing side is 8
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9514 1404 393

Answer:

  2.5 years

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Step-by-step explanation:

The relationship between the values in an amortization is ...

  A = P(r/12)/(1 -(1 +r/12)^(-12t))

Here, we have A = 140, P = 3400, r = 0.16 and we want to find t

  140 = 3400(0.16/12)/(1 -(1 +0.16/12)^(-12t))

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Taking logarithms gives ...

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It will take about 2.5 years to pay off the loan.

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The total of payments is ...

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so, the interest paid is ...

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You will pay about $736 in interest over the life of the loan.

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<em>Additional comment</em>

The number of payments is calculated to be about 29.54. You would probably make 30 payments, with the last payment being a different amount than $140. The actual amount will depend on when the payment is made, and the amount of it that is finance charge. We believe the remaining balance after 29 payments will be $75. After a full month, the finance charge due on that amount is $1.00, bringing the total amount of interest paid to $736.

If the loan is paid off in the middle of the month, the interest due is reduced. Above, we have calculated interest based on a last payment made part way through the month. We rounded up, partly because of the ambiguity in the final payment.

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