<u>Answer:</u>
The finance charge for this loan of Solomon is $1008 approximately.
<u>Solution:</u>
Given, Solomon is taking out 15,320, 2 year loan with an APR of 3.29%.
We have to find What will be the finance charge for this loan.
Now, yearly interest on amount of $15320 = 3.29% of 15320
Yearly interest on amount of $15320 ![=\frac{3.29}{100} \times 15320](https://tex.z-dn.net/?f=%3D%5Cfrac%7B3.29%7D%7B100%7D%20%5Ctimes%2015320)
Yearly interest on amount of $15320 = 0.329 x 1532
Yearly interest on amount of $15320 = 504.028
So, for 2 years, his interest will be 2 x 504.028 = 1008.056
Hence, finance charge for this loan is $1008 approximately.
Answer:
I believe the answer is D.
Ryan was 8 when his parents invested $4000 in a certificate of deposit that pays 6%. If Ryan leaves the account alone until the investment doubles, how old will he be? (Assume that the interest is not compounded.)
<span>This one has a twist to it in that it tells you that the interest is not compounded. </span>
<span>They need to earn $8,000 - $4,000 = $4,000 in interest. </span>
<span>They earn $4,000 X 6% = $240 in interest per year. </span>
<span>$4,000 / $240 = 16.67 </span>
<span>16.67 + 8 = 24.67 </span>
<span>Ryan will be 24 and 8 months old when the investment doubles. </span>
<span>2.)Benjamin has $6000 invested in two accounts. One earns 8% interest per year, and the other pays 7.5% interest per year. If his total interest for the year is $472.50, how much is invested at 8%? </span>
<span>X = the amount invested at 8% </span>
<span>($6,000 - X) = the amount invested at 7.5% </span>
<span>So: </span>
<span>.08X + .075(6,000 - X) = $472.50 </span>
<span>Now solve: </span>
<span>.08X + 450 -.075X = $472.50, this reduces to </span>
<span>.005X = $22.50, which finally reduces to </span>
<span>X = $4,500 </span>
<span>So $6,000 - X = $1,500 </span>
<span>So the answer is: $4,500 is invested at 8% </span>
<span>Test the result </span>
<span>$4,500 X 8% = $360.00 </span>
<span>$1,500 X 7.5% = $112.50 </span>
<span>$360.00 + $112.50 = $472.50, and you've proved your answer</span>
The area of a parallelogram can be found using the formula
![A=bh](https://tex.z-dn.net/?f=A%3Dbh)
.
We know that
![A=12](https://tex.z-dn.net/?f=A%3D12)
and
![h=5\frac{1}4](https://tex.z-dn.net/?f=h%3D5%5Cfrac%7B1%7D4)
, so we can divide 12 by 5¼ to get b.
Let's put 5¼ as an improper fraction to make dividing easier.
5 wholes = 20 fourths. 20 + 1 = <u>21 fourths</u>.
Dividing by a fraction is the same thing as multiplying by its reciprocal.
To find the reciprocal we flip the numerator and the denominator and get 4/21.
4/21 × 12 = 48/21 which as a simplified mixed number is
Answer:
4¹⁰
Step-by-step explanation:
4³ × 4⁷ = 4³⁺⁷ = 4¹⁰