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nika2105 [10]
2 years ago
9

If Sally purchases a car for $22,000 with a 5 year loan having a 2.5% interest rate, how much simple interest will she have to p

ay on the loan?
Mathematics
2 answers:
cluponka [151]2 years ago
8 0

Answer:

2750

Step-by-step explanation:

simple interest = (22,000*5*2.5)/100

simple interest= 2750

kaheart [24]2 years ago
4 0

Answer:

Simple interest = $2750

Step-by-step explanation:

Principal; P = $22000

Time; t = 5 years

Rate; r = 2.5%

Formula for simple interest is;

i = PRT/100

i = (22000 * 2.5 * 5)/100

i = $2750

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Find the monthly payment for the loan. Finance $500,000 for an apartment complex with a 12.3% 10-year loan.
Marina86 [1]

Using it's formula, it is found that the monthly payments for the loan of the apartment is of $7,260.50.

<h3>What is the monthly payment formula?</h3>

It is given by:

A = P\frac{\frac{r}{12}\left(1 + \frac{r}{12}\right)^n}{\left(1 + \frac{r}{12}\right)^n - 1}

In which:

  • P is the initial amount.
  • r is the interest rate.
  • n is the number of payments.

In this problem, the parameters are given as follows:

P = 500000, r = 0.123, n = 12 x 10 = 120.

Hence:

r/12 = 0.123/12 = 0.01025.

Then, the monthly payments will be of:

A = P\frac{\frac{r}{12}\left(1 + \frac{r}{12}\right)^n}{\left(1 + \frac{r}{12}\right)^n - 1}

A = 500000\frac{0.01025(1+0.01025)^{120}}{(1+0.01025)^{120} - 1}

A = 7260.50.

More can be learned about the monthly payment formula at brainly.com/question/26267630

#SPJ1

6 0
3 years ago
The heights of women aged 20 to 29 are approximately normal with mean 64 inches and standard deviation 2.7 inches. Men the same
ohaa [14]

Answer:

z=(x-mu)/o

Step-by-step explanation:

X - Heights of women aged 20 to 29: X is N(64, 2.7)

Y - Heights of men aged 20 to 29: X is N(69.3, 2.8)

a) X=6'=72"

b) Y = 72"

c) 72' women can be taken as very tall but men moderately taller than average

d) Y<5'5" =65"

e) X>73"

Z>

Almost 0% can be taken

f) IQR =Q3-Q1

3 0
3 years ago
Erick and Mia live the same distance from the park and decide to meet at the park
navik [9.2K]

Answer:

sorry I don't see any graph

Step-by-step explanation:

anyways

Eric's distance + time Mia's distance + time

7 0
3 years ago
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I need help this is due today
Lana71 [14]

Divide actual distance by the distance of the scale miles

39 miles / 13 miles = 3

Multiply that by the scale inches:

2 inches x 3 = 6 inches.

The answer is 6 inches.

4 0
3 years ago
Read 2 more answers
Please Quickly
Dima020 [189]
X=1.5 let me know if u need an explanation
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3 years ago
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