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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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Gary had a 40% discount for car speakers. The sale price of the speakers was $96.25. What was the original price of the speakers
Ostrovityanka [42]

Answer:

Step-by-step explanation:

If the price after the discount is subtracted is $96.25 then this is what you do

u times 0.40 x 96.25 which is 38.5 so since you are wanting to know what the price was before the discount you would add 38.5 to 96.25 and when you do that your answer is 134.75

but if you are just trying to get the discount from 96.25 you subtract 38.5 from 96.25

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3 years ago
Which expressions are equivalent to 4x^4-9x^2?
weeeeeb [17]
We can cosider this to be  a difference of 2 squares  so 

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also we could take x^2  out and get 
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3 years ago
What is greater 43/50,0.91,7/8 or 84%
ELEN [110]
.91 is the largest number in that group. 
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3 years ago
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nydimaria [60]
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Find the slope and y-intercept of the line that is parallel to y=3x-3 and passes through the point (-2,7)
german

A line that is parallel to that line and hits (-2, 7) is y = 3x + 13.

The first thing we have to note is that it will have the same slope. Since the coefficient of x is 3, we know the slope is also 3. This means the new line will have that slope (this is the definition of parallel lines).

Now we can use slope intercept form, the slope and a point to find the y intercept (b).

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Now we use the slope we found (3) and the intercept (13) and place them in the final equation.

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