Please help me with this question!

What is the total finance charge for a $4,250 loan at 13.25% interest compounded monthly for 24 months?

Rom4ik [11]

Since only the principal value, interest rate and interest period are given, we can deduce that "finance charge" only includes the interest to be paid at the end of the term. This can be obtained by subtracting the principal value from the future value which we will solve for.

The future value can be solved by using the following compound interest formula:

Let:
F = Future value
P = Principal value
r = annual interest rate 
n = number of times that interest is compounded per year
t = number of years

F = P(1 + r/n)^nt

Substituting the given values:
F = 4250(1 + 0.1325/12)^(12*2)
F = 5531.54

Subtracting P from F:
Finance charge = 5531.54 - 4250 = 1281.54

Therefore the finance charge is $1,281.54

6 0

3 years ago

PLEASE SHOW YOUR WORKING OUT

dimulka [17.4K]

0.8
you find how much he needed so:
24*0.3=7.2
than 8 he had , so whats left over
8-7.2=0.8

7 0

3 years ago

Read 2 more answers

7x = -67 - 11v 5x = -73 - 11v

Burka [1]

Answer:

x = 3, v = -8

Step-by-step explanation:

Substitute x.

$\frac{-67-11v}{7}$

[5 • $\frac{-67-11v}{7}$ = -73 - 11v]

Isolate v.

5 $\frac{-67-11v}{7}$ = -73 - 11v

v = -8

Substitute v.

x = $\frac{-67-11(-8)}{7}$

x = 3

4 0

3 years ago

If triangle CAT is similar to triangle DOG, which of the following statements is incorrect?

jeyben [28]

Answer:

1. triangle TCA ~ triangle GOD

4. If TC/GD=3/2, then m<T/m<G=3/2.

Step-by-step explanation:

The statements of the question are

1. triangle TCA ~ triangle GOD

2. AT: OG= AC:OD

3. If TC/GD=3/2, then AC/OD=3/2.

4. If TC/GD=3/2, then m<T/m<G=3/2.

5. If the scale factor of triangle CAT to triangle DOG is 3 to 2, then the scale factor of triangle DOG to triangle CAT is 2 to 3.

6. If AC is twice as long as AT, then OD is twice as long as OG

Verify each statement

1) triangle TCA ~ triangle GOD

we know that

If two triangles are similar, then the ratio of its corresponding sides is proportional and its corresponding angles are congruent

In this problem

triangle CAT ~ triangle DOG -----> is given

so

Reorder

Corresponding sides are named using pairs of letters in the same position on either side of the congruence statement

triangle TCA ~ triangle GDO

therefore

The statement is not correct

2). AT: OG= AC:OD

we know that

If two triangles are similar, then the ratio of its corresponding sides is proportional and its corresponding angles are congruent

In this problem

triangle CAT ~ triangle DOG -----> is given

so

Applying proportion

$\frac{AT}{OG}=\frac{AC}{OD}=\frac{TC}{GD}$

The statement is true

3). If TC/GD=3/2, then AC/OD=3/2.

we have that

$\frac{AT}{OG}=\frac{AC}{OD}=\frac{TC}{GD}$ ---> see part 2)

so

$\frac{TC}{GD}=\frac{AC}{OD}$

therefore

The statement is true

4). If TC/GD=3/2, then m<T/m<G=3/2

Remember that

In two similar triangles, corresponding angles are congruent

so

$m\angle T=m\angle G$

$m\angle T/m\angle G=1$

therefore

The statement is false

5). If the scale factor of triangle CAT to triangle DOG is 3 to 2, then the scale factor of triangle DOG to triangle CAT is 2 to 3

we know that

If the scale factor of triangle CAT to triangle DOG is a/b. then the scale factor of triangle DOG to triangle CAT is b/a

The scale factor will be the reciprocal

therefore

The statement is true

6). If AC is twice as long as AT, then OD is twice as long as OG

we know that

$\frac{AT}{OG}=\frac{AC}{OD}$

Reorder

$\frac{AT}{AC}=\frac{OG}{OD}$

If AC is twice as long as AT ----> AC=2AT

If OD is twice as long as OG ----> OD=2OG

substitute

$\frac{AT}{2AT}=\frac{OG}{2OG}$

simplify

$\frac{1}{2}=\frac{1}{2}$ ----> is true

therefore

The statement is true

5 0

2 years ago

Evaluate h(x) = -2+ 9 when x = -2, 0, and 5

sasho [114]

Answer: 7

Step-by-step explanation:

5 0

3 years ago