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Andru [333]
3 years ago
11

I need help with #10

Mathematics
1 answer:
Alika [10]3 years ago
4 0
Each song is 75 cents
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Your company has just taken out a 1-year installment loan for $72,500 at a nominal rate of 20.0% but with equal end-of-month pay
Mariulka [41]

Answer:

100% of the 2nd monthly payment go toward the repayment of principal.

Step-by-step explanation:

The loan taken is the Principal which is mentioned as $72,500 with interest at a nominal rate of 20%. Firstly, it is important to understand that nominal rate means <em>non-compounding </em>rate. Simply put will be a "<em>one-time charged" </em>rate on the loan. Since this is given as 20% of the Principal. It is calculated thus: \frac{20}{100} × \frac{72,500}{1}= $14,500. So the interest on the loan is $14,500. Added to the Principal the total amount to be paid back by the company becomes: $72,500 + $14,500 = $87,000. To pay back this amount at equal end-of-month installments in 1 year (12 months), we divide the total amount by 12. i.e \frac{87000}{12} = $7250. This means, the monthly payment will be $7,250. Since the monthly payment pays only 10% of the initial principal $72,500. By the second month only 20% of the Principal would have been paid. So all of the monthly payment will go towards repaying the principal

3 0
3 years ago
Complete the equation and tell what property you used 16+31=31+16
krek1111 [17]
201555555555555555555555555555555

4 0
3 years ago
I'm stuck on here, please, someone help me.
Sophie [7]

Answer:

Answer B

Step-by-step explanation:

therw is one full one and one with five

6 0
3 years ago
Which equation shows the substitution method being used to solve the system of linear equations?
bonufazy [111]
B. 
It says x = y + 3. So what they did was put y + 3 in the place of x. 
5 0
3 years ago
QUESTION 60 What is the mean of the following set of data? Round your answer to two decimal places. {25, 32, 16, 21, 30, 18, 37}
padilas [110]

Question 60:

The answer is B. 25.57.

Mean is calculated by adding up all the values of a data set, and then dividing that sum by the amount of values.

25, 32, 16, 21, 30, 18, 37=179

179÷7=25.57

Question 61:

The answer is A. 102.

Mode is the number in a data set that appears most often. 102 shows up twice, while the other values only appear once. So 102 is the mode.

3 0
3 years ago
Read 2 more answers
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