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3 years ago

State the excluded value of 60x^3 /12x

Mathematics

1 answer:

Neporo4naja [7]3 years ago

8 0

Answer:

$\frac{60 {x}^{3} }{12x}$

$5 {x}^{2}$

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Option C

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Solution:

From given question,

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Down payment = $ 1000

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net principal = p = $ 3000 - $ 1000 = $ 2000

p = $ 2000

The bank approved a simple interest flat rate loan for 2 years at 6% APR

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Let us first calculate the simple interest

The formula for simple interest is given as:

$\text{ simple interest } = \frac{ p \times n \times r}{100}$

Substituting the given values,

$\text{ simple interest } = \frac{ 2000 \times 2 \times 6}{100}\\\\\text{ simple interest } = 20 \times 2 \times 6 = 240$

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How much are the monthly loan payments?

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To calculate the monthly payment divide the total amount payable by 24 (since 2 year = 24 months )

$\text{ Monthly loan payment } = \text{ Total amount payable } \div 24$

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