The cost to rent a moving truck is a flat fee of $25 plus $0.60 per mile. The equation c = 25 + 0.6m models the cost, c, in doll
ars for the number of miles, m, traveled in the truck.
Identify the independent and dependent variables.
The
is the independent variable.
The
is the dependent variable.
Identify the independent and dependent variables.
The
is the independent variable.
The
is the dependent variable.
1 answer:
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Answer:
D. $31,337.27
Step-by-step explanation:
We have that the initial amount of the loan is $5500.
Miranda took the loan for 4 years. So, the total present value is $5500×4 = $22,000.
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,
i.e.
Substituting the values, we get,
i.e.
i.e.
i.e.
i.e.
i.e.
i.e.
i.e.
i.e.
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