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crimeas [40]
3 years ago
14

James borrows $4,200 to pay his college tuition. He signs a 5-year simple interest loan. If the monthly payments are $78.40, wha

t is the interest rate on the loan?
Mathematics
1 answer:
KonstantinChe [14]3 years ago
3 0

Answer:

2.4%

Step-by-step explanation:

Total amount of payments:

5 years * 12 months/year * $78.40/month =

= $4704.00

Amount of interest paid in 5 years:

$4704 - $4200 = $504

Amount of interest paid in 1 year:

$504/5 = $100.80

Annual percent rate of interest:

$100.80/$4200 * 100% = 2.4%

Answer: 2.4%

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Answer:

14/42

Step-by-step explanation:

i hope its correct and helful

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3 years ago
What is 4r + 3r + 7y + 5r - 2y - 6r ?<br><br>A. 5r + 5y<br><br>B. 29r - 27y<br><br>C. 27ry​
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Step-by-step explanation:

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3 0
3 years ago
The supreme shipping company can load trucks with both rectangular and cylindrical containers. A rectangular container has a vol
soldi70 [24.7K]

the number of rectangular containers to maximze their income is 18 while the number of cylindrical containers to maximize income is 12.

The maximum income is $1740

Let x be the number of rectangular containers and y the number of cylindrical containers.

Since a rectangular container has a volume of 100 ft ³and weighs 200 pounds and a cylindrical container has a volume of 200 ft.³ and weighs 100 pounds, and each truck has room for at most 4200 ft.³ of containers and can carry a maximum of 4800 pounds,

We have that the maximum volume of the truck V = 100x + 200y.

Also, the maximum weight of the truck is W = 200x + 100y

Since V = 4200 ft.³  and W = 4800 pounds,

100x + 200y = 4200 and 200x + 100y = 4800

x + 2y = 42 (1) and 2x + y = 48 (2)

Multiplying (1) by 2 and (2) by 1, we have

2x + 4y = 84 (3) and 2x + y = 48 (4)

Subtracting (4) from (3), we have

2x + 4y = 84

-

2x + y = 48

3y = 36

y = 36/3

y = 12

Substituting y into (1), we have

x + 2y = 42

x + 2(12) = 42

x + 24 = 42

x = 42 - 24

x = 18

Also, since the shipping company charges $60 for a rectangular container and $55 for a cylindrical container, the income, P = 60x + 55y

Since x = 18 and y = 12, the maximum income is P = 60x + 55y

= 60(18) + 55(12)  

= 1080 + 660

= $1740

So, the number of rectangular containers to maximze their income is 18 while the number of cylindrical containers to maximize income is 12.

The maximum income is $1740

Learn more about maximum income here:

brainly.com/question/24559594

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3 years ago
Translate the sentence to an equation x minus 6 is 7
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The answer is x - 6 = 7
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4 years ago
HELPLPOO ASAP PLEASE HELP MEE
Novosadov [1.4K]
The answer is that I think it is 5
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3 years ago
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