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kirill [66]
2 years ago
10

Jerry’s loan had a principal of $22,000. He made quarterly payments of $640 for nine years until the loan was paid in full. Ho

w much did Jerry pay in interest? a. $3,120 b. $1,040 c. $2,010 d. $5,760.
Mathematics
1 answer:
vredina [299]2 years ago
3 0

The amount Jerry paid in interest is $1,040.

Given to us,

Jerry's principal amount = $ 22,000,

quarterly payment for each quarter = $ 640

Total time for which Jerry paid each quarter = 9 years

As We know that in a year there are 4 quarters,

so, \rm 1\ year = 4\ quarters,

\rm 9\ year = 9\times 4\ quarters,

9 years = 36 quarters,

The total amount paid by Jerry for nine years in each quarter =

quarterly payment for each quarter x no. of quarters for which amount paid

\rm Total\ amount\ paid\ by\ Jerry\ for\ nine\ years\ in\ each\ quarter = \$640\times 36 quarters = \$23,040

Thus, the total amount paid by Jerry for nine years in each quarter is $23,040.

Therefore,

\rm Amount\ Jerry\ pay\ in\ interest = Amount\ Jerry\ paid- Principal\ amount,

\rm Amount\ Jerry\ pay\ in\ interest = \$23,040-\$22,000 = \$1040

Hence, the amount Jerry paid in interest is $1,040.

To know more visit;

brainly.com/question/12522729

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Step-by-step explanation:

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The formula for the area of a parallelogram is A = bh, where b is the base and h is the height. A parallelogram that is not draw
Bezzdna [24]

Answer:

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Step-by-step explanation:

We know the Parallelogram Area is given by

A=bh      Eqn. (1)

where

b : is the base

h  : is the height

We are also given that the base is

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and the height is

h=x-4

So we can plug these two expressions in Eqn. (1), simplify and find our Area equation as follow:

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3 years ago
Read 2 more answers
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