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ruslelena [56]
3 years ago
6

Jasmine is taking out a small business loan for her floral shop. She plans to apply for a $30,000 loan with a 5-year term and a

3.75% interest rate. She is unsure of her expected monthly profits, so she wants to know the benefit of a smaller loan. Using the loan amortization formula, how much money would Jasmine save over the life of the loan if she were to borrow $10,000 less?
Mathematics
1 answer:
navik [9.2K]3 years ago
6 0

Answer:

Monthly pay = int. rate / 12 months * cost of car after downpayment / (1-(1+ int. rate/12 months)^( - term length of loan )

Step-by-step explanation:

Just plug in your numbers:

M = 0.0375/12 * 30000/(1-(1+.0375/12)^60)

since 5 years is 60 months

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Gnesinka [82]
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5 0
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mina [271]

Answer:

y = -4

Explanation:

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4 0
1 year ago
If a gas tank can hold 30 gallons how many gallons does it contain when it is three fifths full
Butoxors [25]
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6 0
3 years ago
1/5 plus 3/10 in the most simple form
Reptile [31]

Hey there!

1/5 + 3/10
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= 2 + 3/10 - 0

= 5/10

= 5 ÷ 5 / 10 ÷ 5

= 1 / 2


Therefore, your answer is: 1/2


Good luck on your assignment & enjoy your day!


~Amphitrite1040:)

6 0
2 years ago
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