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
NNADVOKAT [17]
3 years ago
5

While Mary Corens was a student at the University of Tennessee, she borrowed $14,000 in student loans at an annual interest rate

of 7%. If Mary repays $1,800 per year, then how long (to the nearest year) will it take her to repay the loan? Do not round intermediate calculations. Round your answer to the nearest whole number.
Mathematics
1 answer:
Ne4ueva [31]3 years ago
4 0

Answer:

The number of years needed to repay the loan is 11.47 years or 11 years.

Step-by-step explanation:

The loan amount, Present value =  $14000

Annual repayment amount (annuity) = $1800

Interest rate = 7% per annum.

Now we have to find the number of years consumed to repay the loan amount. Below is the calculation.

Present value = (Annuity[1-(1+r)^-n] )/ r

14000 = (1800 × [1- (1+ 0.07 )^-n] )/ 0.07

14000 × 0.07 = 1800 × [1- (1+ 0.07 )^-n]

980 = 1800 × [1- (1+ 0.07 )^-n]

0.54 = [1- (1+ 0.07 )^-n]

n = 11.47  or 11  years.

You might be interested in
What is the correct method to label a segment with endpoint E and endpoint F? 
Degger [83]

Answer : option B

the correct method to label a segment with endpoint E and endpoint F

The endpoints of the line are E  and F

The Line starts at  E  and ends at F. The line will not extend after F

The line having end points are called as line segment

We represent a line segment by putting a line at the top

to label a segment with endpoint E and endpoint F, we use EF  or FE and a line at the top

So answer is option B

4 0
4 years ago
Read 2 more answers
38.5 kilometers per hour _____ 642 meters per minute<br> &lt;,&gt;,=?
nikitadnepr [17]
<
38.5000 kph < 38.5199 kph
3 0
4 years ago
Helpppppp me right now!
Rudik [331]

Answer:

B and D

7/12 cups

Step-by-step explanation:

2 1/3 + 2 1/4 = cups of flour needed

4 = cups of flour had

2 1/3 + 2 1/4

To have the same denominator, we take the lcm

2 + 2 + (4/12 + 3/12) =

2 4/12 + 2 3/12 - 4

Or

2 + 2 + (3 + 4) / 12 - 4

2 + 2 + (3 + 4) / 12 - 4 = 4 7/12 - 4

4 7/12 - 4 = 7/12 cups of flour needed

8 0
3 years ago
What is the slope of a l8ne that contains the points (34,12) and (32,48)
Vlad [161]
I hope this helps you





slope (34-32)= 12-48




slope.2= -36




slope = -18
7 0
3 years ago
If
Anna11 [10]
Answer: -104

Explanation: x=-9 y=2
2(y-3xy)
=2(2-3(-9)(2))
=4-2(3(-18))
=4-108
=-104

Hope it helped

4 0
2 years ago
Other questions:
  • Evaluate Cot0 if sin0= square root of 6/5
    15·1 answer
  • Ling decided to purchase a vehicle with a $12,999 MSRP at a 6% interest rate
    15·2 answers
  • I already know part b <br> I just need help with A <br> Please Help ASAP
    15·1 answer
  • What is the surface area of the pyramid?
    14·1 answer
  • IF YOU SHOW THE WORK AND HOW YOU GOT THE ANSWER IF ITS RIGHT I WILL GIVE BRAINLEY 1.At Parker’s Pizza Parlor, the total cost of
    9·1 answer
  • Find the area of the circle and the sector.
    7·1 answer
  • To graph the equation 2x + 5y = 10, Zeplyn draws a line through the points (5, 0) and (0, 2). What is the slope of the line repr
    11·2 answers
  • The Nisbets went through the drive through
    14·1 answer
  • 5 pts<br> Question 17<br> - + - =<br> -6/14<br> -7/8<br> 6/24<br> 09/14
    15·2 answers
  • Emergency plz help me !!
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!