<h3>T
he monthly payment is $242.44 for loan to paid off in 3 years.</h3>
Step-by-step explanation:
The amount borrowed = Principal = $8000
The rate of interest = 7.2%
Time (T) = 3 years
Now, Simple Interest = 
So, the total interest = $1728
Now, <u>Amount to be paid = Principal + Interest</u>
⇒ A = $8000 + $1728 = $8728
Also, 1 year = 12 months
⇒ 3 years = 3 x 12 months = 36 months
So, total amount to be paid in 36 months is $8728.
⇒The amount to be paid in 1 month is 
Hence, the monthly payment is $242.44 if loan is to paid off in 3 years.
Answer:
<em>The simple interest is $11,212.5 and the equation to determine Josh's simple interest is I = PRT/100</em>
Step-by-step explanation:
The formula for calculating simple interest is expressed as;
SI = Principal * rate * time/100
SI = 50,000 * 6.9*39/100*12
SI = 500*6.9*39/12
SI = 134,550/12
SI = 11,212.5
<em>Hence the simple interest is $11,212.5 and the equation to determine Josh's simple interest is I = PRT/100</em>
P is the amount borrowed
R is the interest rate
T is the time in years
Answer:
4 , 2, 8, 4 ..............
Answer:
37 miles per hour
Step-by-step explanation:
To find the average rate (average speed) of Latoya in miles per hour, you would divide the distance traveled (in miles) by the time taken to travel (in hours).
So we know that Latoya traveled 8 miles in 13 minutes. We cannot divide 8 by 13, because 13 is in minutes, not hours. We must convert 13 minutes to hours before dividing.
There are 60 minutes in one hour, so to covert minutes into hours, we would divide the minutes (13) by 60. Doing this would give you 13/60. You cannot simplify the fraction 13/60, because 13 is a prime number. It would be best to just leave it as it is for now. So Latoya traveled for 13/60 hours.
Now, to find her average rate in miles per hour, you divide the distance traveled in miles (8 miles) by the time it took to travel in hours (13/60):
8 ÷ 13/60
Remember, a ÷ b/c = a × c/b. Using this:
8 ÷ 13/60 = 8 × 60/13 = 480/13 ≈ 37 rounded to the nearest whole number.
Latoya had an average rate of about 37 miles per hour.
I hope this helps. :)
