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
lakkis [162]
3 years ago
9

A certain bank offers a car loan with a fixed annual interest rate. Justine applied for the loan and used the entire amount to b

uy a car worth $43,000. He had to pay the bank for five years for a total amount of $51,600. How much would be the yearly interest if Justine borrowed $50,000 instead? *
0 points
Mathematics
1 answer:
natita [175]3 years ago
8 0

Answer: $10000

Step-by-step explanation:

From the question,

Principal = $43000

Time = 5 years

Rate = Unknown

Simple Interest = $51,600 - $43000 = $8600

We need to calculate the rate of interest which will be:

Interest = PRT/100

8600 = (43000 × 5 × Rate) / 100

Cross multiply

8600 × 100 = 215000 × Rate

Rate = 860000 / 215000

Rate = 4%

Assuming Justine borrowed $50,000 instead, the yearly Interest will be:

= (50000 × 5 × 4%)

= 50000 × 5 × 0.04

= $10000

You might be interested in
How do you do this and what ya the correct answer? Simple and concise explanation please!
ale4655 [162]

Answer:

2

Step-by-step explanation:

You are right as rain. You go to the x axis.

Find x = 3.5

f(3.5) is the y value of x = 3.5

f(3.5) = 2

It might help you a bit if you wrote it as a point (3.5,2)

4 0
3 years ago
Find the solutions to the system of equations. Select all that apply. Y=x^2-1 y=2x-2
Sliva [168]

Answer:

Option C (1, 0)

Step-by-step explanation:

We have a system with the following equations:

y = x ^ 2-1\\\\y = 2x-2

The first equation is a parabola.

The second equation is a straight line

To solve the system, substitute the second equation in the first and solve for x.

2x-2 = x ^ 2 -1

Simplify

x ^ 2-2x + 1 = 0

You must search for two numbers that when you add them, obtain as a result -2 and multiplying both results in 1.

These numbers are -1 and -1

Therefore

x ^ 2-2x + 1= (x-1)(x-1)\\\\x ^ 2-2x + 1= (x-1)^2=0

Finally the solutions are

x = 1\\y =0

8 0
3 years ago
Read 2 more answers
frank rented a truck for one day. There was a base fee of 14.95, and there was an additional charge of 78 cents for each mile dr
Gemiola [76]
Answer : 153 miles

Explanation : first take 134.29 & subtract the 14.95 base fee which give you 119.34 . now divide 119.34 by 78 which gives you 1.53. so he drove 153 miles.
equation : 14.95+ 0.78x = 134.29 . to double check just multiply 153 x 0.78 and add $14.95 which gives us the total of $134.29
7 0
2 years ago
Read 2 more answers
Will give 25 points pleaseee help
Sonja [21]

Answer:

i don't understand anything what grade are you in

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
Solve these compound interest problems and round your answer to the nearest 100th.
MatroZZZ [7]

Answer:

$2,226.96

Step-by-step explanation:

You are going to want to use the compound interest formula, which is shown below.

A=P(1+\frac{r}{n} )^{nt}

<em>P = initial balance </em>

<em>r = interest rate </em>

<em>n = number of times compounded annually </em>

<em>t = time </em>

<em />

First, change 10% into its decimal form:

10% -> \frac{10}{100} -> 0.1

Now lets plug in the values into the equation:

A=500(1+\frac{0.1}{12})^{15(12)}

A=2,226.96

The final amount after 15 years is $2,226.96

4 0
3 years ago
Other questions:
  • SOMEONE PLEASE HELP!!!!!!!!!!!!!!!!!!1
    13·2 answers
  • In a certain year the price of gasoline rose by 20% during January, fell by 20% during February, rose by 25% in March, and fell
    11·1 answer
  • The sum of two numers is 52 . The difference of the two numbers is 38 . What are the two numbers? Write the two numbers separate
    8·1 answer
  • Yolanda closed on a 20 year home loan for $83,000. she chooses to buy only 1 point at closing. by buying a point at her closing,
    10·2 answers
  • lan wants to write the number 100000 using a base of 10 and an exponent what number should he use as the exponent
    6·1 answer
  • Can anyone solve this
    6·2 answers
  • Does anyone know the answer
    5·2 answers
  • F(x) = 4x +5 when f(x) = 17
    5·2 answers
  • If 2^2x = 2^3, what is the value of x?
    14·2 answers
  • f(x)=(2x−1)(3x+5)(x+1) has zeros at x= -5/3, x= -1 and x= 1/2 What is the sign of f on the interval -5/3
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!