Given:
loan amount: 25,250
original interest rate: 3.4%
new interest rate: 6.8%
term: 10 years.
Assuming that simple interest formula is used.
I = P * r * t
I = interest
P = principal
r = interest rate
t = term/time
I = 25,250 * 3.4% * 10 years
I = 8,585
I = 25,250 * 6.8% * 10 years
I = 17,170
17,170 - 8,585 = 8,585 Additional interest paid using the new interest rate.
Using an online loan repayment calculator: Here are the following data:
Loan Balance:$25,250.00
Adjusted Loan Balance:$25,250.00Loan
Interest Rate:6.80%
Loan Fees:0.00%
Loan Term:10 years
Minimum Payment:$0.00
Monthly Loan Payment:$290.58
Number of Payments:120
Cumulative Payments:$34,869.23
Total Interest Paid:$9,619.23
<span><span>Loan Balance:$25,250.00
</span><span>Adjusted Loan Balance:$25,250.00
</span><span>Loan Interest Rate:3.40%
</span><span>Loan Fees:0.00%
</span><span>Loan Term:10 years
</span><span>Minimum Payment:$0.00</span>
<span>Monthly Loan Payment:$248.51
</span><span>Number of Payments:120</span>
<span>Cumulative Payments:$29,820.59
</span><span>Total Interest Paid:<span>$4,570.59</span></span></span>
Answer:
The least number of stamps required is 
Step-by-step explanation:
Let the number of
cent stamps be
and
cent stamps be 
We have

The minimum number is obtained when more
cent stamps are used
Here
cannot be greater than
since 
Substitute 

Not possible since
is not a fraction
Substitute 

Not possible since
is not a fraction
Substitute 

Possible
Hence minimum number of stamps is

Paying off the entire loan = 12 * 437.26 =
<span>
<span>
<span>
5,247.12
</span>
</span>
</span>
He paid 6 * 437.26 =
<span>
<span>
<span>
2,623.56
</span>
</span>
</span>
He then paid 2,556.03
2,623.56
plus = 2,556.03 =
<span>
<span>
<span>
5,179.59
</span>
</span>
</span>
<span>
<span>
5,247.12
</span>
minus </span><span>5,179.59 =
67.53 the amount of money he saved.
</span>
Answer:
75%
Step-by-step explanation:
3/12 =1/4
so 1/4 of 100% = 75%
Answer:
x<±1 and x< -3
Step-by-step explanation:
Given the inequality x^2-1/3x+9<0, we are to find the values of x that satisfies the inequality
x^2-1/3x+9<0
x^2-1/3x+9 (3x+9)²<0* (3x+9)²
(x^2-1)(3x+9) < 0
x²-1 < 0 and 3x + 9 <0
x²-1 < 0
x²<1
x<±√1
x<±1
Also 3x + 9 <0
3x < -9
x < -9/3
x < -3
Hence the required values of x are x<±1 and x< -3