Answer:
The APR of the loan was 18.30%.
Step-by-step explanation:
Given that a student has a total of $ 3000 in student loans that will be paid with a 48-month installment loan with monthly payments of $ 73.94, to determine the APR of the loan to the nearest one-half of a percent the following calculation must be done:
3,000 = 100
(73.94 x 48) = X
3,000 = 100
3,549.12 = X
3,549.12 x 100 / 3,000 = X
354,912 / 3000 = X
118.30 = X
118.30 - 100 = 18.30
Therefore, the APR of the loan was 18.30%.
Remember that when you bring ÷ to the other side of the equal sign it'll become multiply instead
Answer:
x=16
Step-by-step explanation:
y = 1/2 x -3
Let y =5
5 = 1/2 x -3
Add 3 to each side
5+3 = 1/2 x -3+3
8 = 1/2x
Multiply each side by 2
8*2 = 1/2x*2
16 =x
Answer:
.00331125
Step-by-step explanation:
