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Serga [27]
3 years ago
13

Niki makes the same payment every two months to pay off his $61,600 loan. The loan has an interest rate of 9.84%, compounded eve

ry two months. If Niki pays off his loan after exactly eleven years, how much interest will he have paid in total? Round all dollar values to the nearest cent.
Mathematics
2 answers:
mars1129 [50]3 years ago
6 0
After a series of calculations, I found out that the interest he has to pay in total would be <span>$117,484.77.

You might use my answer in reviewing by using your solution also.

I hope my answer has come to your help. God bless and have a nice day ahead!
</span>
MissTica3 years ago
6 0

Answer:

$39,695.48

Step-by-step explanation:

Here, the present value of the annuity is given.

Here, PV = $61,600

P is the periodic payment.

r = 9.84% or 0.0984

t = number of payments in a year = 6

n = 11 years

61600= P(1-(1+0.0984/6)^{-(11\times6)})/ (0.0984/6)

=> 61600\times0.0164 =P(1 - (1.0164)^{-66})

=>P =1010.24/0.658231

= 1534.78

So, Niki is paying $1,534.78 at every two months interval for eleven years.

Hence, total payment made by Niki will be = 11\times6\times1534.78 = $101295.48

So, interest paid = 101295.48-61600 = $39,695.48

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P(J / R) = P (J and R) / P(R) 
<span>0.8 = P (J and R) / 0.6 </span>
<span>P (J and R) = 0.6 * 0.8 = 0.48 [Probability John practicing and it is raining] </span>

<span>P(J / NR) = P (J and NR) / P(NR) </span>
<span>0.4 = P (J and NR) / (1 - 0.6) = P (J and NR) / 0.4 </span>
<span>P (J and NR) = 0.4 * 0.4 = 0.16 [Probability John practicing and it is not raining] </span>

<span>Hence; </span>
<span>Propability of John practicing regardless of weather condition is </span>

<span>P(John Practicing) = 0.48 + 0.16 = 0.64</span>
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Step-by-step explanation:

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What are the factors of the function represented by this graph?
borishaifa [10]

Answer:

option C. (x + 4) and (x − 8)

Step-by-step explanation:

A factor is one of the linear expressions of a single-variable of the polynomial.

Given: y = (1/4)(x + 4)(x - 8)

When y = 0

∴ (1/4)(x + 4)(x - 8) = 0 ⇒ multiply both sides by 4

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

Given fraction is:

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<u>Formula used:</u>

<u></u>(a+b)(a-b) = a^{2} -b^{2}<u></u>

<u></u>

But, the above equation was solved at the condition that:

m\neq 3

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