1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Setler [38]
3 years ago
14

Hosea borrowed $20,000 to buy a new speed boat. The interest rate on his loan is 5%. If he plans to pay the loan back in three y

ears, how much interest will he pay? What will be the total cost that he will owe including interest?
Mathematics
1 answer:
Anit [1.1K]3 years ago
7 0

Answer:

a. Interest amount is $3,000.

b. Total cost is $23,000.

Step-by-step explanation:

a. How much interest will he pay

This can be calculated as follows:

Interest amount = Principal loan Amount * Interest rate * Number of years ........ (1)

Where;

Principal loan Amount = $20,000

Interest rate = 5%

Number of years = 3

Substituting the values into equation (1), we have:

Interest amount = $20,000 * 5% * 3 = $3,000

b. What will be the total cost that he will owe including interest?

Total cost = Principal loan Amount + Interest amount = $20,000 + $3,000 = $23,000

You might be interested in
Evaluate. <br> 8 • [5 + (18 – 7)] ÷ 7
Goshia [24]
Okay so you must do the (18-7) first so with that you will get 
8*[5+11]/11
next you do the parenthesis yet again so [5+11]=16
8*16/7
and then you simplify
I got : 18.28. 
3 0
3 years ago
Read 2 more answers
Ms. Abrams receives a 4% commission plus a salary of $275.00 per week. If her total sales for one week are $2,880.00, how much d
suter [353]

4% = 0.04

 multiply percent by sales to get total commission:

2,880 * 0.04 = 115.20

 add that to her base pay:

275 + 115.20 = $390.20 total earned

6 0
3 years ago
Pizza Perfection sold 93 pieces on Monday 67 pizzas and Tuesday 78 pizzas on Wednesday 44 piece pizzas on Thursday and 123 pizza
Irina18 [472]
93+67+78+44+123/5= 81 the answer 
8 0
3 years ago
HELPPPP FAST!!! get brainliest if right
DochEvi [55]
The answer should be 60.
7 0
2 years ago
Read 2 more answers
60 pts!!! HELP Find the inverse of the function f(x)= 4/9 x-4<br> show work
earnstyle [38]

Answer:

Inverse Function: f^-1(x) = 9/4x + 9

Step-by-step explanation:

To find  the inverse function we can interchange the position of the variables x and y, and then solve for y;

y = 4/9x - 4 => x = 4/9y - 4,

x = 4/9y - 4,

4/9y = x + 4,

y = 9/4x + 9/4(4),

y = 9/4x + 9/ f^-1(x) = 9/4x + 9

6 0
3 years ago
Other questions:
  • Sophie drove 189 miles in 7 hours. If she continued at the same rate, how long would
    15·1 answer
  • How many times can 10go in to 2,135,468
    12·1 answer
  • Help me on 4 please and thank u
    10·1 answer
  • Bearings are tricky and I though I had this
    7·1 answer
  • Add-one fourth to 5 times b
    9·2 answers
  • 3√3 AS A WHOLE RADICAL
    10·1 answer
  • What is the positive square root of the number given? If the number is not a perfect square, select the
    11·1 answer
  • PLEASE HELP!!
    6·1 answer
  • find the values of x that would make the area of the rectangle greater than the area of the triangle.can you help me pls​
    9·1 answer
  • Please help! Hhehehehenehenennejwjwjwjw
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!