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Delicious77 [7]
3 years ago
14

Mercedes takes out a loan for $15,000 at a simple interest rate of 4% to be paid back in 48 monthly installments.

Mathematics
1 answer:
Black_prince [1.1K]3 years ago
6 0

answer: none of these? $338.69

explanation:

https://calculator.me/loan/s?prin=15000&ir=4&term=48&termtype=12&freq=12&pp=0&dp=0&dptype=1&tradein=0&stax=0&fstax=1&appfee=0&fappfee=1&od=13&om=9&oy=2021

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If anyone can do this for me step by step i will give you 30 points please help me out
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Answer:

after 10 months

Step-by-step explanation:

Let x be the number of months and y be the amount they still owe.

Sin Ian borrows $1000 from his parents, then the y-intercept b= 1000 since he owes $1000 when x = 0. He pays them back $60 each month The slope is then m = -60 . Substituting in b = 1000 and m = -60 into the slope-intercept form of a line then gives y= mx + b=-60x +1000.

Sin Ken borrows $600 from his parents, then the y-intercept b = 600 since he owes $600 When x= 0. He pays them back $20 per month so the amount he owes decreases $20 each month. The slope is then m = -20 . Substituting in

b= 600 and m = -20 into the slope-intercept form then gives y = mx +b = -20x + 600.

They will owe the same amount when they have the same y-coordinate. Therefore -60x+ 1000= y= -20x+600. Solve this equation for x:

-60x+ 1000 = -20x+ 600

1000 = 40x+ 600

400 = 40x

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They will then owe the same amount after 10 months.

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A pound of chocolate costs 8 dollars. Lamar buys p pounds. Write an equation to represent the total cost ċ that Lamar
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