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ruslelena [56]
2 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]2 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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Answer:

area = 160160 inches²

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Step-by-step explanation:

The length of the rectangular computer chip is 22 × 10 cm and the width is 7 × 104 cm .  

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area = length × width

area = (22 × 10) × (7 × 104)  

area = 220 × 728

area = 160160  inches²

In scientific notation

area = 1.6016 × 10⁵ inches²

160160 is written as 1.6016 × 10⁵ because 1.60160 × 100000 = 1.6016 × 10⁵

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