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bonufazy [111]
2 years ago
11

What would the monthly payment be for a $5,000 loan with a 6. 25% interest rate compounded monthly spread over 60 months? a. $25

. 31 b. $97. 25 c. $217. 00 d. $320. 95.
Mathematics
1 answer:
Rina8888 [55]2 years ago
5 0

Answer:

  b.  $97.25

Step-by-step explanation:

Your number sense tells you a loan of this duration will have a monthly payment not much greater than $5000/60 ≈ $83. Of the offered answer choices, $97.25 is the most reasonable guess.

__

If you work this out using a financial calculator, it will tell you the monthly payment is $97.25.

_____

<em>Additional comment</em>

As a first approximation, the interest paid on an amortized loan is about half of the simple interest amount. We can guess at the monthly payment by computing the payment on a simple interest loan at half the rate.

The total due on a $5000 loan at 3.125% interest is ...

  A = P(1 +rt) = 5000(1 +5(0.03125)) = 5000(1.15625) = 5781.25

If 1/60 of that is paid each month, the payment is about $96.35. This guess is within 10% of the actual payment value. With suitable approximations, you can do this calculation without a calculator.

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Step-by-step explanation:

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4 0
2 years ago
Sarah making a square pillow with edges that need to measure 8 inches long. She needs a strip of fabric four times as long as on
Galina-37 [17]

Answer:

The length of the strip of fabric is 32 inches.

Step-by-step explanation:

Consider the provided information.

The length of the edges of the square pillow should be 8 inches.

She needs a strip of fabric four times as long as one of the pillow to make a border around the pillow.

The length of the strip of fabric = 4×8 inches

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6 0
2 years ago
Which ordered pair is a solution of the equation
andrew11 [14]
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(-1,-7)
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(1,-7)
-7=11(1)+4
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(-1, -7) & (2, 26) are solutions to the equation
4 0
3 years ago
A minimum-phase continuous-time system has all its poles and zeros in the left-half s-plane. If a minimum-phase continuous-time
vlabodo [156]

Answer:

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Step-by-step explanation:

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In digital signal processing, the bilinear transform is used to convert continuous time system into discrete time system representation.

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We know that a system is considered to be minimum phase if the zeros are situated in the left half of the s-plane in continuous time system. In the same way, a system is minimum phase when its zeros are inside the unit circle of z-plane in discrete time system.

The bilinear transform is used to map the left half of the s-plane to the interior of the unit circle in the z-plane preserving the stability and minimum phase property of the system. Therefore, a minimum phase continuous time system is also minimum phase when converted into discrete time system using bilinear transformation.

8 0
3 years ago
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