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3 years ago

Round to the nearest thousand, 5870

Mathematics

1 answer:

andrew11 [14]3 years ago

4 0

Answer: 5870 rounded to the nearest thousand is 6000

Step-by-step explanation:

Remember, when we round we have to be careful with the place value they are asking you to round to. Here, they want you to round to the thousands place. So, you have to look at the hundreds.

5870. 800 is the hundreds, and it is greater than “5”. So, you round to the next thousands. It happens to be 6000.

Hence, 5870 rounded is 6000.

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3 years ago

If a borrower's monthly interest payment on an interest-only loan at an annual interest rate of 7.3% is $877, how much was the l

nordsb [41]

Answer:

C. $144,200

Step-by-step explanation:

We have been given that a borrower's monthly interest payment on an interest-only loan at an annual interest rate of 7.3% is $877.

To find the loan amount, we will use simple interest formula.

$I=Prt$ , where,

I = Amount of interest,

P = Principal amount,

r = Annual interest rate in decimal form,

t = Time in years.

One month will be equal to 1/12 year.

$7.3\%=\frac{7.3}{100}=0.073$

Upon substituting our given values in simple interest formula, we will get:

$877=P*0.073*\frac{1}{12}$

$877*12=P*0.073*\frac{1}{12}*12$

$10524=P*0.073$

$P*0.073=10524$

$\frac{P*0.073}{0.073}=\frac{10524}{0.073}$

$P=144164.3835616438356$

Upon rounding to nearest hundred, we will get:

$P\approx 144,200$

Therefore, the loan amount was $144,200 and option C is the correct choice.

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