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disa [49]
3 years ago
11

9y-7=56 y=?: show work

Mathematics
2 answers:
enyata [817]3 years ago
6 0

Answer:

53.12

Step-by-step explanation:

1234567890

Lilit [14]3 years ago
6 0

Answer:

y = 7

Step-by-step explanation:

9y - 7 = 56

       +7     +7

9y = 63

/9     /9

y = 7

(/9 = divided by 9)

check :  9 x 7 = 63 ( 63 - 7 = 56) correct!

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Answer:

D. $31,337.27

Step-by-step explanation:

We have that the initial amount of the loan is $5500.

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The rate of interest on the loan is 7.5% i.e. 0.075 and it was for the duration of 10 years.

Also, it is given that the loan was compounded annually.

We have the formula as,

P=\frac{\frac{r}{n}\times PV}{1-(1+\frac{r}{n})^{-t\times n}}

i.e. PV=\frac{P\times [1-(1+\frac{r}{n})^{-t\times n}]}{\frac{r}{n}}

Substituting the values, we get,

i.e. PV=\frac{P\times [1-(1+\frac{0.075}{12})^{-10\times 12}]}{\frac{0.075}{12}}

i.e. 22000=\frac{P\times [1-(1+0.00625)^{-120}]}{0.00625}

i.e. 22000=\frac{P\times [1-(1.00625)^{-120}]}{0.00625}

i.e. 22000=\frac{P\times [1-0.4735]}{0.00625}

i.e. 22000=\frac{P\times 0.5265}{0.00625}

i.e. P=\frac{22000\times 0.00625}{0.5265}

i.e. P=\frac{137.5}{0.5265}

i.e. P=261.16

Thus, the total lifetime cost to pay of the loans compounded annually  = 261.16 × 120 = $31,339.2

Hence, the total cost close to the answer is $31,337.27

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