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
Tju [1.3M]
3 years ago
9

- Nick will borrow $8700 at 13.5% APR. He will pay it back over 5 years.

Mathematics
1 answer:
Schach [20]3 years ago
6 0

Answer:

His monthly payment will be \$242.875.

Step-by-step explanation:

Given that,

Amount borrowed by Nick is \$8700.

Rate of interest per Annum is 13.5\%.

Time taken by Nick to Pay it back is 5\ years.

To find:-  What will his monthly payment be ?

So, Principle=\$8700, R=13.5\% & Time=5\ years

                         S.I=\frac{P\times R\times T}{100}

                        S.I=\frac{8700\times 13.5\times 5}{100} = \frac{587250}{100}

                        S.I=5872.5

Here, Amount to be paid after 5\ years will be,

                   A=P+I

                   A=8700+5872.5

                   Amount=\$14572.5

Then,

Amount should be paid in a month for next  5\ years  would be  \frac{14572.5}{60} =\$242.875.                                                  

                                                                                         {5\ years = 60\ months} Therefore,

His monthly payment will be \$242.875

You might be interested in
Kim has fraction 1 over 2 cup of almonds. she uses fraction 1 over 8 cup of almonds to make a batch of pancakes. part a: how man
Vesna [10]
She can make 4 batches of pancakes
6 0
3 years ago
1/5 of the students at Kendall Middle School are in 6th grade. 3/7 of the students at Kendall Middle School are in 8th grade. Wh
ELEN [110]
13/35 because you have to find the common denominator which would be 35 and in order to get 7 to 35 you have to multiply the whole thing by 5 making the fraction equal 15/35 and you have to multiply the other fraction by 7 making it 7/35 add the two together which would equal 22/35 so to make that 35/35 it would have to be 13/35 
4 0
3 years ago
Which set shows an average of 8?<br> A) A<br> B) B<br> C) A and B<br> D) none of the above
nasty-shy [4]

Answer: D

Step-by-step explanation:

None of the above

8 0
2 years ago
Read 2 more answers
PLZ ANSWER QUESTION IN PICTURE
Sophie [7]

Answer: y=\frac{1}{3}x+\frac{13}{3}

Step-by-step explanation:

(slope = m)

m=\frac{y_2-y_1}{x_2-x_1}=\frac{4-6}{-1-5}=\frac{-2}{-6}=\frac{1}{3}

y=mx+b, (5,6), (-1,4), m=\frac{1}{3}

y=mx+b\\6=\frac{1}{3}(5)+b\\b=6-\frac{5}{3} \\b=\frac{13}{3}\\y=\frac{1}{3}x+\frac{13}{3}

6 0
2 years ago
Natalia lives in a house that is 2 meters below sea level. Natalia goes to school every day, which is 13 meters above sea level.
alisha [4.7K]

Answer: Natalia travels 15 meters to get from home to school

8 0
3 years ago
Read 2 more answers
Other questions:
  • Give the equation of the graph pictured below
    5·2 answers
  • Write the equation of the line through the points (2, 3) and (-5, 4).?
    8·1 answer
  • Help needed! Due by 6/22/19
    11·1 answer
  • Show me and example of a multi step equation and solve.
    7·1 answer
  • What is the value of (Negative one-half)–4?
    12·2 answers
  • What is the classification for this polynomial ? X^2y + 3x^3
    6·1 answer
  • The vertex from a quadratic function is f(x)=a(x-h)^2+k what is the vertex if each function match the function rule with the coo
    13·2 answers
  • POSSIBLE POINTS: 8
    13·1 answer
  • Write the equation of a line that is perpendicular to y=-2/7x + 9 and that passes through the point (-4,6) [FP]​
    14·1 answer
  • I need help pleaseee…
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!