Using the y=mx+b format
M= slope
B= y-intercept
All you need to do, since both m and b are given us to plug them in! You should commit “y=mx+b” to memory, it’ll help you a ton!
y = -2x+5

3 0

2 years ago

You take out $50,000 for loans during your college career. You must pay it back with 7% APR for 20 years, making monthly payment

Ad libitum [116K]

Answer:

The monthly payment for the loan amount for 20 years is $806.167

Step-by-step explanation:

The principal loan amount= $ 50,000

The rate of interest = 7 %

the time period of loan = 20 years = 20 × 12 = 240 months

let the amount after 20 years = $ A

From Compounded method

Amount = Principal × $(1+\dfrac{\textrm rate}{100})^{\textrm Time}$

or, A = 50,000 × $(1+\dfrac{\textrm 7}{100})^{\textrm 20}$

or, A = 50,000 × $(1.07)^{20}$

Or, A = 50,000 × 3.8696

∴ Amount = $ 193,480

So, The amount after 20 years = $ 193,480

The monthly payment amount = $ $\frac{193480}{240}$ = $ 806.167

Hence The monthly payment for the loan amount for 20 years is $806.167 Answer

3 0

3 years ago

When Aristotle Proclaimed his new theory, 87 responded. If this was only 3/5 the number of responses expected, how many response

Genrish500 [490]

3/5 of the total responses expected = 87...
3/5x = 87
x = 87 / (3/5)
x = 87 * 5/3
x = 435/3
x = 145 <=== what was expected

3 0

3 years ago