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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

You might be interested in
Solve 5x^2 − 3x + 17 = 9.
Vedmedyk [2.9K]

Answer:

The roots of the equation are x = \frac{3+\sqrt{151}i}{10} and x = \frac{3-\sqrt{151}i}{10}

and there are no real roots of the equation given above

Step-by-step explanation:

To solve:

5x² − 3x + 17 = 9

or

⇒ 5x² − 3x + 17 - 9 = 0

or

⇒ 5x² − 3x + 8 = 0

Now,

the roots of the equation in the form ax² + bx + c = 0 is given as:

x = \frac{-b\pm\sqrt{b^2-4ac}}{2a}

in the above given equation

a = 5

b = -3

c = 8

therefore,

x = \frac{-(-3)\pm\sqrt{(-3)^2-4\times5\times8}}{2\times5}

or

x = \frac{3\pm\sqrt{9-160}}{10}

or

x = \frac{3+\sqrt{-151}}{10} and x = \frac{3-\sqrt{-151}}{10}

or

x = \frac{3+\sqrt{151}i}{10} and x = \frac{3-\sqrt{151}i}{10}

here i = √(-1)

Hence,

The roots of the equation are x = \frac{3+\sqrt{151}i}{10} and x = \frac{3-\sqrt{151}i}{10}

and there are no real roots of the equation given above

7 0
3 years ago
PLEASE ANSWER QUICK A manufacturing facility pays its employees an average wage of $4.50 an hour with a standard deviation of 50
evablogger [386]

Answer:

B.77.4%

Step-by-step explanation:

Mean wage (μ) = $4.50

Standard deviation (σ) = $0.50

For nay given salary X, the z-score is given by:

z=\frac{X-\mu}{\sigma}

For X = $3.75, the z-score is:

z=\frac{3.75-4.50}{0.50}\\z=-1.5

For X = $5.00, the z-score is:

z=\frac{5.00-4.50}{0.50}\\z=1

A z-score of -1.5 corresponds to the 6.68th percentile, while a score of 1 corresponds to the 84.13th percentile. Therefore, the percentage of workers getting paid between $3.75 and $5.00 an hour is:

P=84.13-6.68\\P=77.45\%

The answer is alternative B.77.4%

8 0
3 years ago
La caja rectangular que se ilustra en la figura tiene dimensiones de 8° x 6° x 4°. Calcule el ángulo ∅ formado por una diagonal
Klio2033 [76]

Answer:

really, hola adios si si si

Step-by-step explanation:

4 0
3 years ago
The middle school is 2.72 km from marshes House and 1.52 km from Ryan’s house how much further does Martha live from the middle
Alex_Xolod [135]

1.20kilometers farther away from Ryan’s house

6 0
3 years ago
Gloria earned $26 for babysitting for 4 hours. Write and Solve an equation to determine how much Gloria would earn after babysit
posledela

Answer:

Equation: ($26÷4 hours) × 25 hours

Answer: $156.25

Step-by-step explanation:

First, you would have to find out how much she earns per hour, so $26÷4. Then you multiply that by 25.

(26÷4) x 25=$156.25.

(hope this helps :P)

3 0
3 years ago
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