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3 years ago

Help please 31-33 I'm very confused

Mathematics

1 answer:

Alexxandr [17]3 years ago

5 0

I'm not going to dignify this question with a response. xD

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A loan of $100,000 is made today. The borrower will make equal repayments of $3568 per month with the first payment being exactl

Makovka662 [10]

Answer:

The yearly interest rate is 5.20%.

Step-by-step explanation:

This is a compound interest problem

The compound interest formula is given by:

$A = P(1 + \frac{r}{n})^{nt}$

In which A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.

In this problem, we have that:

The loan outstanding is the value of the loan that has not been repaid.

Here, it is $$25,044.84$ .

To find the interest rate, we first have to find how much money the borrower will have to pay, that will be the value of A in the compound interest formula.

The total he will have to play is $$25,044.84$ plus the $3,568 he has already paid in each of the previous 2 years = 24 months. So:

$A = 25,044.84 + 24*3,568 = 110,676.84$ .

P is the value of loan, so $P = 100,000$

r is the interest rate, the value we have to find.

We have to find the annual interest rate, so $n = 1$ .

We found the total amount in 2 years, so $t = 2$ .

Solving

$A = P(1 + \frac{r}{n})^{nt}$

$110,676.84 = 100,000(1 + r)^{2}$

$(1 + r)^{2} = 1.1067684$

To find r, i will take the square root of both sides of the equation. So

$\sqrt{(1 + r)^{2}} = \sqrt{1.1067684}$

$1 + r = 1.0520$

$r = 0.0520$

The yearly interest rate is 5.20%.

7 0

3 years ago

the sum of 16 numbers is 240.The average of 6 of those numbers is 10. the average of the remaining numbers is

Ivan

Answer:

Step-by-step explanation:

If the average of 6 numbers is 10, then the sum of those 6 numbers is:

6 x 10 = 60

To calculate the sum of the remaining 10 numbers, subtract 60 from the total sum of all the numbers:

240 - 60 = 180

Therefore, the average of the 10 remaining numbers:

180 ÷ 10 = 18

4 0

3 years ago

You deposit $75 in a savings account that earns 5% annual interest compounded yearly. Find the balance in the account after the

Nana76 [90]

Hi there
The formula is
A=p (1+r)^t
A future value
P present value 75
R interest rate 0.05
T time

After 1 year the balance is
A=75×(1+0.05)
A=78.75

After 2 years
A=75×(1+0.05)^(2)
A=82.69

After 5 years
A=75×(1+0.05)^(5)
A=95.72

After 20 years
A=75×(1+0.05)^(20)
A=198.99 round
A=199

Hope it helps

7 0

3 years ago

8. Box A contains two yellow counters and one white counter

alexira [117]

Answer:

6/15

Step-by-step explanation:

draw a tree diagram.

the only path with no white is highlighted

multiply them

2/3 x 3/5 = 6/15

4 0

3 years ago

Last year, Ravi opened an investment account with $5400 . At the end of the year, the amount in the account had decreased by 24.

Nastasia [14]

1-(24.5/100)=0.755 which will be our multiplier
5400 x 0.755 = $4077 left in his account
5400-4077=$1323 decrease

3 0

3 years ago