Simple interest is basically the cost of borrowing money over a period of time. So if you have borrowed $110.00 at 5% for two years, you will multiply the 5% by the two years (presuming that it is 5% annual percentage rate (APR). So, You will multiply the 110 by 10% (or .1) to get $11 dollars of simple interest.
We know that we have to m<span>ake a down payment of $1500 and finance the rest of $20000 at a 1.9% interest rate, making equal monthly payments for 5 years. Our first step to solve this problem would be to convert 5 years into months.
1 year = 12 months
12 * 5 = 60 months
Therefore, in 5 years there are 60 months.
Now lets solve this problem step by step.
Subtract the down payment from $20,000
</span>$20000-$1500=$18500
Multiply the remaining number by the interest rate.
$18500 *1.9 = $35150
Divide 35150 by number of months in 5 years (60)
$35150 / 60 = $585
<span>Therefore, you have to pay $585 per month. </span>
-t-3 and 3-t are not the same since t-3 would result in a negative answer since both -t and -3 are negative. While in t-3 t is positive and -3 is negative. it is wrong if its left as t-3 since -t-3=3-t is false.
Answer:
Explanation:
If a side has a bracket [] then it is less than or equal to, meaning that it can reach that exact number.
However, if a side has a parentheses () then it is simply less than. It cannot be that exact number, but it can be even slightly less than that number.
