1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MakcuM [25]
3 years ago
11

A borrower has a loan of $ 50,000.00 at 6 % compounded annually with 9 annual payments. Suppose the borrower paid off the loan a

fter 5 years. Calculate the amount needed to pay off the loan.
Mathematics
1 answer:
disa [49]3 years ago
5 0

Answer:

We say that $16911.28 is compound interest of 50,000 for 5 year  from  now ,at 6% compound annually. The total amount needed to pay off the loan $66,911.28

Step-by-step explanation:

Given that,

P=50,000

r=6%

t=5 years

A=?

According to formula  A=P\left ( 1+\frac{r}{100} \right )^{t}

A=50,000\left ( 1+\frac{6}{100} \right )^{5}

A=50,000\left ( 1+0.06 \right )^{5}

A=50,000\left ( 1.06 \right )^{5}

A=66911.28

CI = A-P  ( CI = compound interest)

CI=66,911.28-50,000.00

CI=16,911.28

Total amount needed to pay off loan= \left ( 50,000.00+16,911.28 \right ) =  $66,911.28

Compound interest  $16911.28

You might be interested in
Please solve as fast as possible...<br>No spams please......​
lisabon 2012 [21]

Answer:

In ∆ABD and ∆ACD

<BAD =<CAD ( each are half of <A )

<D=<D ( each equal to 90°)

AD = AD ( common)

So ∆ ABD is congruent to ∆ ACD.

Then AB =AC (by C.P.C.T)

Hence,∆ABC is an iso - sceles triangle.

8 0
3 years ago
In a representative sample of 1000 adult Americans, only 400 could name at least one justice who is currently serving on the U.S
lys-0071 [83]

Answer:

1) z = -6.32

2) p-value = 0.001 × 10^(-2)

3) we will reject the null hypothesis and conclude that there is enough evidence to support the claim that fewer than half of adult Americans can name at least one justice currently serving on the Supreme Court

Step-by-step explanation:

We are told that In a representative sample of 1000 adult Americans, only 400 could name at least one justice.

Thus:

Sample proportion; p^ = 400/1000 = 0.4

Sample size: n = 1000

We want to find if there is convincing evidence to support the claim that fewer than half of adult Americans can name at least one justice.

Thus, the hypothesis is defined as;

Null hypothesis:H0: p ≥ 0.5

Alternative hypothesis: Ha < 0.5

Formula for the test statistic is;

z = (p^ - p)/√(p(1 - p)/n)

Plugging in the relevant values;

z = (0.4 - 0.5)/√(0.5(1 - 0.5)/1000)

z = -6.32

From online p-value from z-score calculator attached, using z = -6.32; significance level of 0.01; one tailed hypothesis;

We have:

p-value = 0.00001 = 0.001 × 10^(-2)

The p-value is less than the significance level and so we will reject the null hypothesis and conclude that there is enough evidence to support the claim that fewer than half of adult Americans can name at least one justice currently serving on the Supreme Court

8 0
2 years ago
3. Jessie is looking for the volume of the cone
Llana [10]

Answer:

A

Step-by-step explanation:

The base is the circle.

To find the area of the circle, use pi*r^2

pi = 3.14

r = 6

  • Area = 3.14 * 6^2
  • Area = 3.14 * 36
  • Area = 113.04

6 0
3 years ago
Read 2 more answers
17) Convert the number to scientific notation 0.00317
Masteriza [31]

Answer:

3.17x10^-3

Step-by-step explanation:

Move the decimal so there is one non-zero digit to the left of the decimal point. The number of decimal places you move will be the exponent on the  

10. If the decimal is being moved to the right, the exponent will be negative. If the decimal is being moved to the left, the exponent will be positive.

6 0
3 years ago
On the beach boardwalk, there 20 different places to get food. Twenty percent of them are ice cream shops. How many ice cream sh
balu736 [363]
20/100
= 0.2

0.2 x 20
= 4

4 of the shops are ice cream shops.
7 0
3 years ago
Other questions:
  • A school is selling tickets to a choral performance. On the first day, the school sold 6 adult tickets and 6 child tickets for $
    11·1 answer
  • Please help!!! Will give brainly if correct!! 50 points
    14·2 answers
  • How can I find the surface area of a right cone with a radius of 6 and slant height of 16
    11·1 answer
  • Jocelyn estimates that a piece of wood measures 5.5 cm. If it actually measures 5.62 cm, what is the percent error of Jocelyn’s
    10·1 answer
  • For a fund-raiser, Anthony earns $5 for the first mile he runs, an additional $7 for the second mile, an additional $9 for the t
    15·1 answer
  • Plzzzzz can any one help me I don’t understand :(
    7·1 answer
  • If x = -6, which inequality is true? A -5-3x&gt;10 B -3-5x 13 D 2-x&lt;-3
    6·1 answer
  • Quickkk solve by graphing u can use a graph I just need the work
    9·1 answer
  • The perimeter of the surface
    5·2 answers
  • Are EFG and HIJ similar?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!