(ii) n is an integer and 6n +5 <20
1 answer:
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Answer:
$2,958.33
Step-by-step explanation:
Jasper's annual salary is $71000.
Considering that a year has 12 months and that he gets a paycheck twice each month, the total number of paychecks (P) Jasper gets each year is:
To define Jasper's gross income per paycheck (I), simply divide his annual salary by the number of paychecks in a year:
Jasper's gross income per paycheck is $2,958.33.
1. Using "exact" interest, your charge will be
.. I = Prt
.. I = $855.28*0.154*(31/365)
.. I = $11.19
2. It will take 52.01 months to pay off the loan.
3. Your payment on 15,250 for 4 years will be $363.41. The effective interest rate that payment represents on a loan of $15,000 is 7.604%
4. Todd's monthly payments will be $409.06, so his total outlay will be
.. tax+license + down payment + loan repayment
.. = 1200 +1000 +48*409.06
.. ≈ $21,835
.. I = Prt
.. I = $855.28*0.154*(31/365)
.. I = $11.19
2. It will take 52.01 months to pay off the loan.
3. Your payment on 15,250 for 4 years will be $363.41. The effective interest rate that payment represents on a loan of $15,000 is 7.604%
4. Todd's monthly payments will be $409.06, so his total outlay will be
.. tax+license + down payment + loan repayment
.. = 1200 +1000 +48*409.06
.. ≈ $21,835