1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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
You might be interested in
a farmer uses 1/3 of his land to plant cassava 3/5 of the remaining land to plant Maize and the rest vegetables if vegetables co
Rzqust [24]

Answer:

37.5 acres.

Step-by-step explanation:

Fraction of his land  where vegetables are grown

= 1 - 1/3 - 2/3 *3/5

(after taking away 1/3 we get 2/3 and the farmer uses 3/5 of this 2/3 to grow Maize.

= 1 - 1/3 - 6/15              LCD of 3 and 15= 15  so we write:

= 1 - 5/15 - 6/15

= 1 - (5+6)/16

=  1 - 11/15

= 4/15.

4 /15 is equivalent to  10 acres

so  total  area (= 1)  =   10 / 4/15     Invert the 4/15 and multiply:

= 10 * 15/4

=  150/4

= 37.5 acres.

3 0
3 years ago
What is the value of the expression below? ( 9.5-3x1 1/2 ) / 0.5<br>PLEASE HURRY!!
GuDViN [60]
The answer would be 10!
7 0
3 years ago
14 + w is the same as which expression?
Vanyuwa [196]

Answer:

w+14,

Step-by-step explanation:

6 0
2 years ago
Ayuda con mates por favor
QveST [7]

Answer:

a) x = -1 and  y = 5, b) x = 2 and y = -1, c) x = -2 and y = 1, d) x = 2 and y = -9, e) x = 2 and y = -2, f) x = 2 and y = -1, g) x = 2 and y = -1, h) x = 1 and y = 2.

Step-by-step explanation:

Each system is solved as follows (Cada sistema es resuelto como sigue):

a) 2\cdot x + y = 3 and 3\cdot x - y = -8

y = 3 - 2\cdot x

3\cdot x - 3 + 2\cdot x = -8

5\cdot x = -5

x = -1

y = 5

b) x - 2\cdot y = 4 and -x+3\cdot y = -5

x = 4 + 2\cdot y

-4-2\cdot y+3\cdot y = - 5

-4+y = -5

y = -1

x = 2

c) -2\cdot x + 5\cdot y = 9 and x - y = -3

x = y-3

-2\cdot y +6 +5\cdot y = 9

3\cdot y = 3

y = 1

x = -2

d) 5\cdot x - 4\cdot y = 2 and 3\cdot x + 2\cdot y = -12

3\cdot x + 2\cdot y = -12

6\cdot x + 4\cdot y = -24

4\cdot y = -6\cdot x -24

5\cdot x +6\cdot x +24 = 2

11\cdot x = -22

x = 2

y = -9

e) x + y = 0 and 2\cdot x +3\cdot y = -2

y = -x

2\cdot x -3\cdot x = -2

-x = -2

x = 2

y = -2

f) 3\cdot x + 5\cdot y = 1 and x + y = 1

y = 1 - x

3\cdot x + 5 - 5\cdot x = 1

-2\cdot x = -4

x = 2

y = -1

g) 5\cdot x - 2\cdot y = 12 and 4\cdot x + 3\cdot y = 5

x = \frac{12+2\cdot y}{5}

x = \frac{5-3\cdot y}{4}

\frac{12+2\cdot y}{5} = \frac{5-3\cdot y}{4}

4\cdot (12+2\cdot y) = 5\cdot (5-3\cdot y)

48 + 8\cdot y = 25 - 15\cdot y

23\cdot y = -23

y = -1

x = 2

h) 7\cdot x + 8\cdot y = 23 and 3\cdot x + 2\cdot y = 7

3\cdot x + 2\cdot y = 7

12\cdot x + 8\cdot y = 28

8\cdot y = 28 - 12\cdot x

7\cdot x +28-12\cdot x = 23

-5\cdot x = -5

x = 1

y = 2

8 0
3 years ago
Which rectangular equation represents the parametric equations x = 3t Superscript one-half and y = 6t?
Alekssandra [29.7K]

Answer:

B

Step-by-step explanation:

I got it right

7 0
3 years ago
Other questions:
  • A box contains ten cards labeled Q, R, S, T, U, V, W, X, Y, and Z. One card will be randomly chosen.
    8·2 answers
  • If a fair-number cube with sides numbered from 1 to 6 is tossed 240 times, approximately how many times would the fair-number cu
    15·1 answer
  • Six stand up comics (A, B, C, D,E &amp; F) are to preform one night at a comedy club. What is the probability the comic C will p
    15·1 answer
  • The original price is $75. She used a coupon code to receive a 20% discount. The web site applied a 10% service fee to the disco
    15·1 answer
  • Find the experimental probability of randomly selecting a marble that is either green or purple. Write your answer in simplest f
    14·1 answer
  • Which equation represents a line that passes through (2 -1/2) and has a slope of 4
    10·1 answer
  • HELP PLEASE
    13·1 answer
  • Write 77.5% as a fraction or mixed number in simplest form.
    9·1 answer
  • PLEASE Help!!!!
    6·1 answer
  • Sally eats 2 ounces of cereal for breakfast each day. How many ounces of cereal does she eat in one week? How many ounces of cer
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!