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kodGreya [7K]
3 years ago
6

Veronica has two offers for a $65,000 student loan. The first loan has a 6.3% interest rate for 15 years, and the second loan ha

s a 4.8% interest rate for 20 years. Both loans have interest compounded every month. Veronica is interested in finding the loan that minimizes the amount of interest that she will pay over the life of the loan. Which loan has a lower amount of interest paid?
Mathematics
1 answer:
steposvetlana [31]3 years ago
7 0

The second option has a lower amount of interest paid.

In order to determine the loan option that minimizes loan payment, the future value of both loan options has to be determined.

FV = P (1 + r)^nm

FV = Future value  

P = Present value  

R = interest rate  

m = number of compounding

N = number of years  

<em><u>First loan option </u></em>

65000( 1 + 0.063/12)^300 = 312,707.21

<em><u>Second loan option </u></em>

65000( 1 + 0.048/12)^240 = 169,435.51

A similar question was answered here: brainly.com/question/23082103

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Answer:

f(x)=(x-2)(x+2)(x-5)

Step-by-step explanation:

f(x)=x³-5x²+4x-20                 1. Just group randomly

f(x)=x²(x-5)+4(x-5)                2. Factor the groupings

f(x)=(x²+4)(x-5)                      

<u>f(x)=(x-2)(x+2)(x-5)</u>                3. Factor the difference of two squares

6 0
4 years ago
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According to data from the state blood program, 40 percent of all individuals have group A blood. If six individuals give blood,
Serjik [45]

Answer: 0.27648

Step-by-step explanation:

Given : The proportion of all  individuals have group A blood : p=0.040

Total individuals give blood : n= 6

Let X be the number of individuals have group A blood.

Since all individual are independent of each other.

X\sim Bin(n=6, p=0.40)

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The probability that exactly three of the individuals have group A blood. :

P(x=3)= ^6C_3(0.40)^3(1-0.4)^3\\\\= \dfrac{6!}{3!3!}\times(0.40)^3(0.60)^3\\\\=0.27648

The probability that exactly three of the individuals have group A blood. is 0.27648

8 0
3 years ago
How much is a dollar
Ivanshal [37]

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$1.00

Step-by-step explanation:

4 0
4 years ago
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3 years ago
Evaluate the expression. 5 x (-6 / -1 + -10)
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-20

Step-by-step explanation:

5 * (-6 / -1+ -10)

According to PEMDAS, we need to do the math in the parentheses first.

-6 / -1 + -10

Applying PEMDAS to the inside of the parentheses, then we have to divide -6 by -1, where we would get 6.

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Adding a negative is the same as subtracting, so adding negative 10 is the same as subtracting 10.

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Subtracting, we get 6 - 10 = -4 and we're left with:

5 * (-4)

Multiplying, <u>our final answer is -20.</u>

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