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2 years ago

Subtract the quotient of 18 and 2 from the sum of 22 and 9. A. 22 B. 4 C. 23 D. 5

Mathematics

1 answer:

frez [133]2 years ago

8 0

Okay, so this is simple. It just needs steps.

Quotient of 18 and 2 = 9.
Sum of 22 and 9 = 31.

31 - 9 = 22.

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Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly. What will his balance be after he has made exactly

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Answer:

The balance be after he has made exactly half of his monthly payments is $56881.4.

Step-by-step explanation:

Given : Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly.

To find : What will his balance be after he has made exactly half of his monthly payments?

Solution :

Formula of monthly payment ,

$M=\frac{\text{Amount}}{\text{Discount factor}}$

Discount factor $D=\frac{1-(1+i)^{-n}}{i}$

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$D=\frac{1-(1+i)^{-n}}{i}$

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$M=\frac{40000}{24.7725}$

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Payment for 10 years is $807.345\times 120=96881.4$

The balance is $96881.4-$40000=$56881.4

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