Given:
loan amount: 25,250
original interest rate: 3.4%
new interest rate: 6.8%
term: 10 years.
Assuming that simple interest formula is used.
I = P * r * t
I = interest
P = principal
r = interest rate
t = term/time
I = 25,250 * 3.4% * 10 years
I = 8,585
I = 25,250 * 6.8% * 10 years
I = 17,170
17,170 - 8,585 = 8,585 Additional interest paid using the new interest rate.
Using an online loan repayment calculator: Here are the following data:
Loan Balance:$25,250.00
Adjusted Loan Balance:$25,250.00Loan
Interest Rate:6.80%
Loan Fees:0.00%
Loan Term:10 years
Minimum Payment:$0.00
Monthly Loan Payment:$290.58
Number of Payments:120
Cumulative Payments:$34,869.23
Total Interest Paid:$9,619.23
<span><span>Loan Balance:$25,250.00
</span><span>Adjusted Loan Balance:$25,250.00
</span><span>Loan Interest Rate:3.40%
</span><span>Loan Fees:0.00%
</span><span>Loan Term:10 years
</span><span>Minimum Payment:$0.00</span>
<span>Monthly Loan Payment:$248.51
</span><span>Number of Payments:120</span>
<span>Cumulative Payments:$29,820.59
</span><span>Total Interest Paid:<span>$4,570.59</span></span></span>
Answer:
Work shown below!
Step-by-step explanation:
(x + 4)(x - 3) = 
Answer:
2/16
5/40
Step-by-step explanation:
Answer:
it is -4
Step-by-step explanation:
-3 * 2 = -6 + 2 = -4
Answer:
c 15
Step-by-step explanation:
Tangent AB is tangent to circle D at point A. The angle made by a tangent to a circle and a radius of the circle at the point of tangency is a right angle. That means that angle is a right angle, and triangle ABD is a right triangle.
We can use the Pythagoren theorem.
a^2 + b^2 = c^2
x^2 + 20^2 = (x + 10)^2
x^2 + 400 = (x + 10)(x + 10)
x^2 + 400 = x^2 + 10x + 10x + 100
400 = 20x + 100
20x = 300
x = 15
