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3 years ago

To buy a car, you borrow $25,000 with a term of three years at an APR of 6.5%. What is your monthly

Mathematics

1 answer:

Finger [1]3 years ago

4 0

Answer:

$766.23

Step-by-step explanation:

The amortization formula is appropriate for this. (Better, use a financial calculator or spreadsheet.)

A = P(r/12)/(1 -(1 +r/12)^-(12t))

where P is the amount borrowed (25,000), r is the annual rate (0.065), and t is the number of years (3).

Putting the given numbers into the formula, we have ...

A = $25,000(0.065/12)/(1 -(1 +0.065/12)^(-36))

A = $25,000(.00541667)/(1 -1.00541667^-36)

A = $25,000(0.00541667)/(0.1767322)

A = $766.23

The monthly payment is $766.23.

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<em>Comment on tools</em>

A graphing or scientific calculator is useful for these. Something like a TI-84, or any of the equivalents, will have financial calculations like this built in. There are also numerous apps available for phone or tablet that will do financial calculations.

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What are the slope between (-5,-2) and (8,13)

Cerrena [4.2K]

Answer:

The slope:

$m = \frac{15}{13}$

Step-by-step explanation:

-To determine the slope of the following points shown, you need this formula:

$m = \frac{y_{2} - y{1}}{x_{2} - x_{1}}$

( $m$ represents the slope, $(x_{1}, y_{1})$ represents the first coordinate and $(x_{2},y_{2})$ represents the second coordinate)

-Apply the following points to the formula:

$m = \frac{13 + 2}{8 + 5}$

Then, solve:

$m = \frac{13 + 2}{8 + 5}$

$m = \frac{15}{13}$

So, the slope is $\frac{15}{13}$ .

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3 years ago

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Answer:

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Step-by-step explanation:

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3 years ago

Write the equation of a line with a slope of 4 and a y-intercept of −3.

olga_2 [115]

Answer:

D. y = 4x − 3

Step-by-step explanation:

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3 years ago

A chemical company makes two brands of antifreeze. The first brand is 20% pure antifreeze, and the second brand is 70% pure anti

andre [41]

Answer:

First brand of antifreeze: 21 gallons

Second brand of antifreeze: 9 gallons

Step-by-step explanation:

Let's call A the amount of first brand of antifreeze. 20% pure antifreeze

Let's call B the amount of second brand of antifreeze. 70% pure antifreeze

The resulting mixture should have 35% pure antifreeze, and 30 gallons.

Then we know that the total amount of mixture will be:

$A + B = 30$

Then the total amount of pure antifreeze in the mixture will be:

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Then we have two equations and two unknowns so we solve the system of equations. Multiply the first equation by -0.7 and add it to the second equation:

$-0.7A -0.7B = -0.7*30$