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ASHA 777 [7]
3 years ago
7

For a loan of $100,000 at a rate of 6% for fifteen years, the payment is about $843 a month. For the same loan amount, at an int

erest rate of 7.5%, you must increase the life of the loan to keep the same payment. The term must extend over 18 years instead of 15 years. With these thoughts in mind, how would paying off a loan early affect the amount of interest paid for the loan?
Mathematics
1 answer:
Artist 52 [7]3 years ago
5 0

Condition 1:

Loan amount is = $100000

Rate of interest = 6%

Time period is = 15 years

Monthly payment amount = $843

Condition 2:

Loan amount = $100000

Rate of interest = 7.5%

Time period is = 18 years

Monthly payment =  Lets suppose this is the same $843.

Lets suppose no reducing method is applied on both conditions.

So in 15 years the amount to be paid will be = 180*843 = $151740

In 18 years the amount becomes = 216*843 = $182088

So the interest amount paid in the second condition is higher than the amount paid in first condition.

Hence, paying off a loan early will result in paying less interest amount paid for the loan.


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-2 (-3x + 3) + 2x = 58
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Answer:

x = 8

Step-by-step explanation:

Given

- 2(- 3x + 3) + 2x = 58 ← distribute and simplify left side

6x - 6 + 2x = 58

8x - 6 = 58 ( add 6 to both sides )

8x = 64 ( divide both sides by 8 )

x = 8

8 0
2 years ago
18. Curry powder is sold at $7.45 per 100 g. How much money will Thuy need in order to buy 3 kg of curry powder?
MissTica

Answer:

Step-by-step explanation:

$7.45 = 100g

x = 3kg( 3 × 1000) = 3000g

∵ $7.45 = 100g

   x        = 3000g

(100 × x) = (7.45 ×  3000)

100x = 22350

100x/100 = 22350/100

x  = $223.5

4 0
2 years ago
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The smaller the standard deviation, _______________________. Select one: a. the less variability it has b. the more variability
algol13

Answer:

a. the less variability it has

Step-by-step explanation:

The standard deviation is a measure of the amount of variation or dispersion of a set of values.

When your standard deviation is big your data is more dispersed.

When your standar deviation is small your mean is a representative index of your data, and there is less variability.

If there was no dispersion of the data (if all your data be the same) then the standard deviation will be 0.

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3 years ago
Solve the inequality.<br> 5x - 7 &lt; 8x + 8<br> The solution set is x |
timofeeve [1]

Answer:

- 5 < x

Step-by-step explanation:

To solve, we need to isolate the variable: x

5x - 7 < 8x + 8

Subtract 5x from both sides

5x -  5x -7 < 8x -5x + 8

- 7 < 3x + 8

Subtract 8 from both sides

- 7 -8 < 3x + 8 -8

-15< 3x

Divide both sides by 3

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5 0
3 years ago
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Danielle invests $2,007 in a retirement
ivanzaharov [21]
Formula For finding Simple interest= Profit x rate x time/ 100

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__________ = 224,784 ÷100 = 2,247.84
100


Answer :- 2247.84
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3 years ago
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