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german
2 years ago
7

Suppose you want to get a loan for $ 5 , 000 at an interest rate of 5.3 % for 2 years to be paid back in 24 monthly installments

. Calculate this loan using simple interest. What is the amount of the monthly payments? Round the answer to the nearest cent (hundredth).
Mathematics
1 answer:
swat322 years ago
4 0

Answer:

monthly payment =  $56.445

Step-by-step explanation:

given data

loan = $5000

interest rate r = 5.3 % = 0.053

time  t = 2 year = 24 months

solution

we will use here amount of the monthly payments formula that is

monthly payment = principal × \frac{r}{1+(1-r)^{-t}}      ................1

put here value and we get

monthly payment = 5000 × \frac{0.053}{1+(1-0.053)^{-24}}\\

monthly payment =  $56.445

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Step-by-step explanation:

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3 years ago
The local bakery uses 1.75 cups of flour in each batch of cookies. The bakery used 5.25 cups of flour this morning. If there are
Firdavs [7]

Answer: 180 cookies


Step-by-step explanation: If 1.75 cups of flour is required to make a batch and the bakery used 5.25, the bakery made 3 batches, since 1.75(3) is 5.25. One dozen is 12 cookies, and there are 5 dozen cookies in each batch. If there are 3 batches, then there are 15 dozens of cookies. 15(12) is 180.


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3 years ago
Solve the system by substitution.<br> [-2.5x+y = 13.5<br> 12.25x - y=-12.25
IrinaK [193]

Answer:

x = 5/39 , y = 539/39

Step-by-step explanation:

Solve the following system:

{y - 2.5 x = 13.5

12.25 x - y = -12.25

In the first equation, look to solve for y:

{y - 2.5 x = 13.5

12.25 x - y = -12.25

y - 2.5 x = y - (5 x)/2 and 13.5 = 27/2:

y - (5 x)/2 = 27/2

Add (5 x)/2 to both sides:

{y = 1/2 (5 x + 27)

12.25 x - y = -12.25

Substitute y = 1/2 (5 x + 27) into the second equation:

{y = 1/2 (5 x + 27)

1/2 (-5 x - 27) + 12.25 x = -12.25

(-5 x - 27)/2 + 12.25 x = 12.25 x + (-(5 x)/2 - 27/2) = 9.75 x - 27/2:

{y = 1/2 (5 x + 27)

9.75 x - 27/2 = -12.25

In the second equation, look to solve for x:

{y = 1/2 (5 x + 27)

9.75 x - 27/2 = -12.25

9.75 x - 27/2 = (39 x)/4 - 27/2 and -12.25 = -49/4:

(39 x)/4 - 27/2 = -49/4

Add 27/2 to both sides:

{y = 1/2 (5 x + 27)

(39 x)/4 = 5/4

Multiply both sides by 4/39:

{y = 1/2 (5 x + 27)

x = 5/39

Substitute x = 5/39 into the first equation:

{y = 539/39

x = 5/39

Collect results in alphabetical order:

Answer: {x = 5/39 , y = 539/39

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