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Lera25 [3.4K]
3 years ago
7

Ron borrowed $20,000 to start up his consulting business. The loan had a simple interest rate of 66% for 4 years. Use the formul

a 1 prt to find the amount of interest he will pay on the loan interest, pprincipal, r = rate (expressed as a decimal 0.066), a time in years He will pay on the loan
Mathematics
1 answer:
Mila [183]3 years ago
8 0

Answer:

I=52800$

Step-by-step explanation:

Use the simple interest formula:

SimpleInterest=I=PV*r*t

Where:

PV=Amount-of-money-borrowed

r=interest-rate

t=time(in-years)

Using the data provide:

I=20,000*0.66*4=52800$

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Hi!
solniwko [45]

Answer:

y = 1x - 4

Step-by-step explanation:

You have to solve for the x intercept on the equation

2x-5y=8\\2x-5(0)=8\\2x=8\\x=4\\(4,0)

That is the x intercept for that equation.

Then solve for the y intercept on the equation

4x-3y=12\\4(0)-3y=12\\-3y=12\\y=-4\\(0,-4)

That is the x intercept for that equation.

Use that to find slope for point slope form

\frac{y_{2}-y_{1}}{x_{2}-_{1}} \\\\\frac{-4-0}{0-4} \\\\\frac{-4}{-4} \\\\1

1 is the slope

and slope makes B the y intercept so the equation is

y = 1x - 4

8 0
3 years ago
How do you rewrite 6^4×6^4 as a single power?
tensa zangetsu [6.8K]

Answer:

6^8

Step-by-step explanation:

6^4 * 6^4

We know that a^b* a^c = a^(b+c)

6^4×6^4  = 6^(4+4) = 6^8

6 0
3 years ago
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Help me plz ill give extra points
siniylev [52]

Answer:

it will turn off

Step-by-step explanation:

when it is disconceted it will cause it to shut off

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5 0
3 years ago
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HELP WITH FINANCIAL LIT--WILL MARK BRANLIEST--
Dominik [7]
1. Go on a vacation that costs $3,500 
Paying off money for buying a car will not decrease your net worth as you get the car as assets for the money you use. But the depreciates 20% will cause you to lose $3,000 assets. Assuming you are not buying assets at all, go on a vacation that costs $3,500 will increase liability without any effect on assets. Paying up bills will decrease your asset but it also decreases your liability so the net worth wouldn't change. 

2. 1) higher 2) lower
Subprime lending is lending money to people with a low credit score that was not really fit for the credit. This means the risk of getting the money back would be higher than prime lending. Since the risk of losing the money is higher, the interest should be higher than prime lending.

3. $200,000
The house price is $250k and the buyer put 20% down which is; 20%*$250k= $50k
Then the rest of the money that needs to be paid by the mortgage would be: $250k-$50k=$200k

4. Lower, Increase
In variable rate loans, the interest will be adjusted by the market. That means the rates will be unpredictable since it was based on the condition of the market. It will be safer for the creditor since he/she will absolutely get the revenue no matter how the market goes. This change is a bit dangerous for the borrower because the number of rates can increase dramatically. 

5. Higher, lower
When you pay 30 years mortgage, the total loan is divided by 30 years which was 2 times more than 15 years. Excluding the rates, you can estimate that the 15 years mortgage payment will be twice than 30years mortgage. The total cost would also be lower since the interest rate is applied for 15 years, about half than 30 years.

6. Negative $3,500
Net worth is assets minus liability.
The list of the assets would be: 
$500 in short-term savings
$5,000 in her retirement savings account
Total assets= $500+$5,000= $5,500

The list of liability would be:
$1,500 in credit card debt
student loan debt of $7,500

Total liability= $1,500+ $7,500= $9,000Net worth= $5,500- $9,000= - $3,500
3 0
4 years ago
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NEED HELP PLEASE WILL MARK BRAINLIEST !!!
Leona [35]
The answer you need is b
3 0
3 years ago
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