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sergiy2304 [10]
2 years ago
10

You have $2,000 on a credit card that charges a 16% interest rate. If you want to pay off the credit card in 5 years, how much w

ill you need to pay each month (assuming you don't charge anything new to the card)?
Mathematics
1 answer:
katrin2010 [14]2 years ago
8 0

9514 1404 393

Answer:

  $48.64

Step-by-step explanation:

The monthly payment amount is given by the amortization formula ...

  A = P(r/n)/(1 -(1 +r/n)^(-nt))

where P is the loan amount, r is the annual interest rate compounded n times per year for t years.

Here, you have P=2000, r=0.16, n=12 (months per year), t=5 (years), so the payment is ...

  A = $2000(0.16/12)/(1 -(1 +0.16/12)^(-12·5)) = $320/(12(0.54828942))

  A ≈ $48.636 ≈ $48.64

You will need to pay $48.64 each month to pay off the charge in 5 years.

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If ∠4 = 98°, then ∠3 = ?<br> look at image
Ksju [112]

Step-by-step explanation:

∠4 = ∠1 & ∠2 = ∠3

360 - 2(98) = ∠2 + ∠3

∠3 = 164/2

∠3 = 82°

6 0
2 years ago
Read 2 more answers
1.Anthony has decided to purchase a $19,000 car. He plans to put 20% down toward the purchase and to finance the rest at a 6.8%
Nikitich [7]
<h2>First step/Equation</h2>

Answer:

 $362.57

Step-by-step explanation:

A suitable calculator or finance app can find the monthly payment for you. This result comes from a TI-84 calculator.

___

The second attachment shows the parameters of the payment function. With 20% down, Anthony is only financing 80% of the price of his car. Of course, there are 12 months in a year, so 4 years worth of payments will be 48 payments. The calculator uses negative values for amounts you pay.

___

No doubt your reference material shows you a formula for computing loan payments. One such is ...

 A = Pr/(1 -(1+r)^-n)

where r is the monthly interest rate, 0.068/12, and n is the number of payments, 48. The principal amount of the loan, P, will be 19,000×0.80. This formula gives the same result as that shown above and below

3 0
2 years ago
I NEED help with this ASAP
boyakko [2]

Answer:

This triangle is a scalene triangle.

Step-by-step explanation:

A scalene triangle means that all of the sides are different.

Hope this helps!

3 0
2 years ago
What is the least common multiple of 32 24 and 18
noname [10]

Answer:

288 is your answer. Your welcome

3 0
3 years ago
Read 2 more answers
Event tickets cost $20 each. A student ordered some tickets online. There was a service charge of $2.50 per ticket. The total co
antiseptic1488 [7]
(20+2.5)x = cost 

when x equals number of tickets

(20+2.5)24 = 540
8 0
2 years ago
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