Kamiko and her 4 sisters each have

You plan to borrow $36,500 at a 7.7% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year p

erma4kov [3.2K]

The amount of interest you would be paying in Year 2 is: $2,492.62.

<h3>Interest</h3>

First step is to calculate the Equal Monthly Payment

Equal Monthly Payment=P×r×(1+r)^t/(1+r)^t-1

Where:

P=Principal=$36,500

r=Rate=7.7%

t=Time=7 years

Equal Monthly Payment=36,500×0.077×(1+0.077)^7÷(1+0.077)^7-1

Equal Monthly Payment=36,500×0.077×(1.077)^7÷(1.077)^7-1

Equal Monthly Payment=36,500×0.077×1.6807763÷1.6807763-1

Equal Monthly Payment=4,723.82/0.6807763

Equal Monthly Payment=$6,938.875

Second step is to calculate Year 1 Closing balance

Year 1 Closing balance = Beginning balance + Interest - EMI Payment

Year 1 Closing balance= $36,500 +($36,500×7.7%) - $6,938.875

Year 1 Closing balance= $36,500 + $2,810.5 -$6,938.875

Year 1 Closing balance = $32,371.625

Third step is to calculate year 2 interest

Year 2 Interest= $32,371.625×7.7%

Year 2 Interest=$2,492.62

Therefore the amount of interest you would be paying in Year 2 is: $2,492.62.

Learn more about interest here:brainly.com/question/15259578

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8 0

1 year ago

P(A)=7/20,P(B)=3/5,P(A∩B)=21/100 ,P(A∪B)=?

satela [25.4K]

Answer:

P( A U B) = 37/50

Step-by-step explanation:

7/20+3/5+21/100

IF YOU NEED MORE HELP LMK

7 0

3 years ago

Read 2 more answers

3)

Wewaii [24]

Answer:

For covering $1$ unit area of the entire playground, the amount of sand required is equal to volume of $3$ buckets of sand.

Step-by-step explanation:

Given -

$\frac{1}{3}$ volume of sand in bucket is able to cover $\frac{1}{9}$ area of the entire playground

Thus,

For covering $\frac{1}{9}$ unit area of the entire playground, the amount of sand required is equal to $\frac{1}{3}$ of the total volume of sand in bucket

For covering $1$ unit area of the entire playground, the amount of sand required is equal to

$\frac{\frac{1}{3} }{\frac{1}{9} } \\\\\frac{1}{3} * \frac{9}{1} \\\frac{9}{3}\\= 3$

For covering $1$ unit area of the entire playground, the amount of sand required is equal to volume of $3$ buckets of sand.

4 0

3 years ago

A square has an area of 576 square inches. How long is each side in feet?

Maru [420]

The area of this square is said to be 576 square inches.
The formula for the area of a square is the length of one side squared.
Let's use l to represent the side length.
This means l^2 = 576.
To find l, find the square root of both sides.
<span>√576 = 24
</span>
The length of each side of the square is 24 inches.
But the question is asking for it in feet.
12 inches = 1 foot so 24 inches = 2 feet
This means each side of the square is 2 feet long.

Answer:
2 feet

5 0

3 years ago

Se quiere cubrir una pared con vidrios de forma triangular. La pared mide 36 m de largo y 9V3 m de alto.

Eddi Din [679]

Based on the dimensions of the wall and the triangular glass, the number of mirrors needed is 215 mirrors.

<h3>What number of mirrors are needed?</h3>

First find the area of the wall:

= 36 x 93

= 3,348 m²

The area of the triangle, assuming it is an equilateral triangle is:

= (√3/4) x 6²

= 15.59 m²

The number of mirrors needed is:

= 3,348 / 15.59

= 215 mirrors

Find out more on the area of an equilateral triangle at brainly.com/question/1099318.

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4 0

2 years ago