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gladu [14]
3 years ago
14

What is the total finance charge for a $4,250 loan at 13.25% interest compounded monthly for 24 months?

Mathematics
1 answer:
Rom4ik [11]3 years ago
6 0
Since only the principal value, interest rate and interest period are given, we can deduce that "finance charge" only includes the interest to be paid at the end of the term. This can be obtained by subtracting the principal value from the future value which we will solve for.

The future value can be solved by using the following compound interest formula:

Let:
F = Future value
P = Principal value
r<span> = annual interest rate </span>
n<span> = number of times that interest is compounded per year</span>
t<span> = number of years</span>

F = P(1 + r/n)^nt

Substituting the given values:
F = 4250(1 + 0.1325/12)^(12*2)
F = 5531.54

Subtracting P from F:
Finance charge = 5531.54 - 4250 = 1281.54

Therefore the finance charge is $1,281.54
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3. The stem-and-leaf plot shows the cost of lamps at a department store.
77julia77 [94]

Answer:

(a) What is the median cost?
12-78

(b) Is there a mode? If so, what is it?

No there isn't

(c) What is the difference between the most expensive and least expensive lamps?

12,75-78

(d) How many lamps cost more than $20 but less than $40?

5

(e) What is the ratio of lamps that cost less than $40 to lamps that cost more than $40? Write the ratio in the simplest form.

{for less} - (12,49)   {for more} - (49,78)

Step-by-step explanation:

hope I helped if it's wrong tell me

~Ally

3 0
2 years ago
How do I solve this question?
asambeis [7]
This is a perfect square trnomial
(a+b)²=a²+2ab+b²
we see that a=5x and b=2

(5x)²+2(5x)(2)+2²=0
factor
(5x+2)²=0
set equal to zero
5x+2=0
5x=-2
x=-2/5
5 0
3 years ago
A plumber charges $50 to come to a house and $20 an hour for work time.
PolarNik [594]
Since the 50 remains the same every time, is has no letters next to it in the equation.  The 20, however, is multiplied by the amount of hours, and will therefore have an h next to.  

20h + 50- the answer is a. 
6 0
3 years ago
Dianne measured the thickness of 1000 sheets of paper as 264mm. How thick is the sheet? Please hurry anyone!!!!!
Karo-lina-s [1.5K]

Answer:

0.264 mm

Step-by-step explanation:

Number of sheets = 1000

Thickness of entire sheet = 264 mm

The thickness of the sheet is :

Thickness of entire sheet / number of sheets

264 mm / 1000

= 0.264 mm

6 0
3 years ago
What is the smallest solution to the equation 2/3 x^2=24
True [87]

Answer:

The smallest solution is -6

Step-by-step explanation:

2/3 x^2=24

Multiply by 3/2 on each side

3/2 *2/3 x^2=24 *3/2

x^2 = 36

Take the square root of each side

sqrt(x^2) = ±sqrt(36)

x = ±6

x = -6, 6

The smallest solution is -6

7 0
3 years ago
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