Help? I know how to do it but my brain is like frozen. I can't concentrate.

Jacinta borrowed sh. 100,000 from her cooperative society. She pays 1% interest of the outstanding balance every month. If she p

vredina [299]

The amount of money that Jacinta pays to service the whole loan as interest is <u>sh. 5,899</u>.

<h3>What is interest?</h3>

Interest is the finance charge that a borrowers incurs to service a loan.

Interest is based on the outstanding balance at the end of the payment period.

<h3>Data and Calculations:</h3>

Principal loan = sh. 100,000

Interest on outstanding balance = 1%

Monthly payment of principal and interest = sh. 10,000

Period of repayment = Monthly

<h3>Amortization Schedule:</h3>

Beginning Interest Payment Ending Balance

1st month sh. 100,000 sh. 1,000 sh. 10,000 sh. 91,000

2nd month sh. 91,000 sh. 910 sh. 10,000 sh. 81,910

3rd month sh. 81,910 sh.819 sh. 10,000 sh. 72,729

4th month sh. 72,729 sh. 727 sh. 10,000 sh. 63,456

5th month sh. 63,456 sh. 636 sh. 10,000 sh. 54,092

6th month sh. 54,092 sh. 541 sh. 10,000 sh. 44,633

7th month sh. 44,633 sh. 446 sh. 10,000 sh. 35,079

8th month sh. 35,079 sh. 351 sh. 10,000 sh. 25,430

9th month sh. 25,430 sh. 254 sh. 10,000 sh. 15,684

10th month sh. 15,684 sh. 157 sh. 10,000 sh. 5,841

11th month sh. 5,841 sh. 58 sh. 5,899 sh. 0

Total interest paid = sh. 5,899

Thus, based on the payment schedule above, the amount of money that Jacinta pays to service the whole loan as interest is <u>sh. 5,899</u>.

Learn more about loan interests at brainly.com/question/24576997

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8 0

2 years ago

Can someone help me and do it step by step

Tema [17]

Answer:

4

Step-by-step explanation:

65-25=40

40/10=4

6 0

3 years ago

Plz help! read the instructions and write a proper answer and if you don't i will report you! And the first one to answer right

ahrayia [7]

Answer:

1 = 0.61, 2 = 1.13

Step-by-step explanation:

The first is 25 + 25 + 10 + 1. This is 61 cents which is 0.61 of 1 dollar. The second is 100 + 10 + 1 + 1 + 1. This is equal to 113, 0r 1.13

BRAINLIEST PLEASE

3 0

2 years ago

An automobile manufacturer has given its van a 47.2 miles/gallon (MPG) rating. An independent testing firm has been contracted t

7nadin3 [17]

Answer:

A

The test statistics is $t = -1.7$

B

The Null and Alternative hypothesis are

$H_o : \mu = 47.2$ and $H_a : \mu \ne 47.2$

Step-by-step explanation:

From the question we are told that

The population mean is $\mu = 47.2 miles/gallon(MPG)$

The sample size is $n = 250 \ van$

The sample mean is $\= x = 47.0$

The sample standard deviation is $\sigma = 1.9$

The level of significance is $\alpha = 0.02$

Given that the value which the manufacturer gave the automobile is 47.2 and it is believed that this is not correct, then

The Null Hypothesis is

$H_o : \mu = 47.2$

The alternative Hypothesis is

$H_a : \mu \ne 47.2$

The test statistics can be mathematically evaluated as

$t = \frac{\= x- \mu}{\frac{\sigma }{\sqrt{n} } }$

substituting values

$t = \frac{\= 47- 47.2}{\frac{1.9 }{\sqrt{250} } }$

$t = -1.7$

7 0

3 years ago

To test for the significance of a regression model involving 3 independent variables and 51 observations, the numerator and deno

LenKa [72]

Answer:

numerator degree of freedom = 3

Denominator degree of freedom = 47

Step-by-step explanation:

The numerator degree of freedom is given by :

p - 1 ; where p = number of predictors ;

p = number of independent variables + 1

Number of independent variables = 3

p = 3 + 1 = 4

Numerator degree of freedom = p - 1 = 4 - 1 = 3

The denominator degree of freedom = n - p ; where n = number of observations

Number of observations, n = 51

Denominator degree of freedom = n - p = 51 - 4 = 47

6 0

3 years ago