Eleanor Wotek took out a simple interest installment loan of $1,525 at 8 percent for 6 months. Her monthly payment on the loan is $260.17. After 3 payments, the balance is $769.98. If she pays off the loan when the next payment is due? a. What is the final payment? (2 points) b. How much is saved by paying off the loan early? (3 points)

Answers

Answer 1

Answer:

a. Final payment = $831.58

b. Amount saved = -$520.34

Step-by-step explanation:

a. What is the final payment? (2 points)

Interest element of fourth month payment = Principal balance after third month payment * 8% = $769.98 * 8% = $61.60

Final payment = Principal balance after third month payment + Interest element of fourth month payment = $769.98 + $61.60 = $831.58

b. How much is saved by paying off the loan early? (3 points)

Amount saved = (Monthly payment * 2 months) - Final payment = ($260.17 * 2) - $831.58 = -$520.34

Note:

The amount saved in part b above is negative i.e. -$520.34 which implies that Eleanor Wotek actually paid more instead of saving some amount.


Related Questions

Paula is making candles for her school's craft fair. She uses 12.8 ounces of beeswax for each candle. If she uses 358.4 ounces of beeswax in all, how many candles does Paula make?

Answers

I think she has 20 i’m not sure correct me if I’m wrong

To solve the system of linear equations 3 x minus 2 y = 4 and 9 x minus 6 y = 12 by using the linear combination method, Henry decided that he should first multiply the first equation by –3 and then add the two equations together to eliminate the x-terms. When he did so, he also eliminated the y-terms and got the equation 0 = 0, so he thought that the system of equations must have an infinite number of solutions. To check his answer, he graphed the equations 3 x minus 2 y = 4 and 9 x minus 6 y = 12 with his graphing calculator, but he could only see one line. Why is this? because the system of equations actually has only one solution because the system of equations actually has no solution because the graphs of the two equations overlap each other because the graph of one of the equations does not existTo solve the system of linear equations 3 x minus 2 y = 4 and 9 x minus 6 y = 12 by using the linear combination method, Henry decided that he should first multiply the first equation by –3 and then add the two equations together to eliminate the x-terms. When he did so, he also eliminated the y-terms and got the equation 0 = 0, so he thought that the system of equations must have an infinite number of solutions. To check his answer, he graphed the equations 3 x minus 2 y = 4 and 9 x minus 6 y = 12 with his graphing calculator, but he could only see one line. Why is this? because the system of equations actually has only one solution because the system of equations actually has no solution because the graphs of the two equations overlap each other because the graph of one of the equations does not exist

Answers

this lol anyways it’s the moon because the sun carried it

Answer:

the answerv is D

Step-by-step explanation:

A 75 inch pipe is cut into two peices. One peice is two times the length of the other find the length of the shorter pipe

Answers

I could be very wrong but I believe it’s 25

You can divide 75 by 3 and that will give you 25 and if the pieces were even they would be 37.5 but the shorter one is 2 times shorter

Please help I'm so confused​

Answers

Answer:

the quotient is 805. the remainder is 5.

Step-by-step explanation:

when you multiply the 8 you put the number you multiplied on top. The first one is 80 and then 5. You have a 5 left over which makes that the remainder

Answer:

1. is 85.625

2. is .625

so you divide 685 and you know nothing multiplied by 8 will equal 685 so the remainder is 685

18 • 1 and 18 = ?
help

Answers

Answer: 18 = 36.

Step-by-step explanation:  (18x1) + 18 = 36

A certain car can travel 28.45 miles with one gallon of gasoline. The gasoline tank can hold

11.5 gallons. How many miles can this car travel on a full tank of gas? SHOW YOUR WORK!

Answer:

Answers

Answer:

327.175 miles

Step-by-step explanation:

Step one:

given data

A car can travel 28.45 miles with one gallon of gasoline

We want to find how far the car can go with 11.5 gallons

Step two:

        if 1 gallon can go 28.45 miles

then 11.5gallons will go x miles

cross multiply we have

1x= 28.45*11.5

x=327.175 miles

how do you figure out what type of solution it is when their are 2 ordered pairs

Answers

Answer:

To figure out if an ordered pair is a solution to an equation, you could perform a test. Identify the x-value in the ordered pair and plug it into the equation. When you simplify, if the y-value you get is the same as the y-value in the ordered pair, then that ordered pair is indeed a solution to the equation.

Step-by-step explanation:

How many different triangles can you make if you are given three lengths for sides?

Answers

Answer:

The lesson Triangle Construction discussed how to make a triangle given three side lengths. As you discovered, as long as two of the lengths added up to be greater than the third, they would form a unique triangle (only one triangle could be formed).

Step-by-step explanation:

Can you give a picture of what you're talking about so I can help? lol.

SOMEONE PLEASE ANSWER 3 ITS DUE IN 3 MINUTES!! WHOEVER ANSWERS GETS BRAINLIEST

Answers

Answer:

9:10

Step-by-step explanation:

74 is the buccaneers, and 35+45=80

so the ratio is 74:80

simplify to 36:40

then to 18:20

then to 9:10

\left(6x10^2\right)\div \left(3x10^{-5}\right)

Answers

Answer:

[tex]\frac{6\times 10^2}{3\times 10^{-5}}[/tex] = 2 x 10⁷

Step-by-step explanation:

Given expression is [tex]\frac{6\times 10^2}{3\times 10^{-5}}[/tex]

The given expression is simplified as follows;

[tex]\frac{6\times 10^2}{3\times 10^{-5}} = (\frac{6}{3} )\times 10^{2-(-5)}\\\\(\frac{6}{3} )\times 10^{2-(-5)} = (\frac{6}{3} )\times 10^{2+5}\\\\(\frac{6}{3} )\times 10^{2+5} = 2 \ \times \ 10^7[/tex]

Therefore, the result of the given expression is 2 x 10⁷

A total of 25 students sign up to be hosts on Parent's Night. Teams of 3 students greet parents. How many students cannot be on a team?

Answers

Answer:

1

Step-by-step explanation:

Because 6 x 4 is 24 and 25 - 24 is 1

1 since 8 teams of 3 students is 24 which leaves us with one person that cannot be in a team.

What type of number is this: 5 3/4?

Answers

Answer:

it’s mixed number

Step-by-step explanation:

Answer:

It is a Mixed number!

Step-by-step explanation:

You deliver flowers to an office building. You enter at ground level and go down 4 floors to make the first delivery! Then you go up 6 floors to make the second delivery. Write down integer that represent how you return to ground level.

Answers

Answer:

-2

Step-by-step explanation:

you went to floor -4 in the begining, then went up 6 floors to floor 2

-4+6=2

so now you have to go down 2 floors making it negative

no your answer is -2

QUESTION 12
Solve the equation -8x+4y=24 for y.

Answers

Answer:

2x+6

Step-by-step explanation:

4y=8x+24

y=2x+6

5x + y = 9
3x + 2y = 4
Solve with elimination method

Answers

Answer:

x=2 y=-1

Step-by-step explanation:

multiply the top equation by negative 2. then it is -7=-14

then you dive and find out that x=2 and plug it inot the equation and solve for x 10+?=9 which is -1

Answer:

x=2

y=-1

Step-by-step explanation:

make it so that you can cancel out the y

to do this multiply the top equation by 2

10x+2y=18

3x+2y=4

subtract to get rid of 2y

7x=14

x=2

substitute the x into one equation

3(2)+2y=4

6+2y=4

2y=-2

y=-1

Please I need this ASAP! A couple needs to get a loan of $5,000 and has to choose between three options. • Option A: 2 1/4% compounded quarterly (every 3 monins) o Option B: 3% compounded every 4 months o Option C: 4 1/2% compounded semi-annually If they make no payments for 5 years, which option will give them the least amount owed after 5 years? Use a mathematical model for each option to explain your choice. ​

Answers

Therefore, option A will result in the least amount owed after 5 years.

What is percent?

Percent is a way of expressing a number as a fraction of 100. The symbol used for percent is "%". For example, 50% is equivalent to 50/100 or 0.5. Percentages are commonly used to express rates, ratios, and changes in quantity over time.

Here,

To determine which option will result in the least amount owed after 5 years, we need to calculate the total amount owed for each option at the end of the 5-year period. We can use the formula A=P(1+r/n)^(nt) to calculate the total amount owed, where A is the final amount owed, P is the principal (in this case $5,000), r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the time period in years.

Option A: 2 1/4% compounded quarterly (every 3 months)

The annual interest rate is 2.25%. Since interest is compounded quarterly, n=4. The time period is 5 years, so t=5. Plugging these values into the formula, we get:

A = [tex]5000(1+0.0225/4)^{(4*5)}[/tex]

= $5,827.05

Option B: 3% compounded every 4 months

The annual interest rate is also 3%, but interest is compounded every 4 months. To calculate the effective interest rate per year, we need to convert the compounding period to years. Since there are 3 compounding periods per year (4 months each), the effective annual interest rate is:

(1+0.03/3)³ - 1 = 0.0304 or 3.04%

Using the formula with these values, we get:

A = 5000(1+0.0304)⁵

= $6,079.28

Option C: 4 1/2% compounded semi-annually

The annual interest rate is 4.5%. Since interest is compounded semi-annually (twice per year), n=2. Plugging in the values, we get:

A = [tex]5000(1+0.045/2)x^{(2*5) }[/tex]

= $6,200.92

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If AC = 48, write and solve an equation for x

Answers

Answer:

x = 10

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

Brackets Parenthesis Exponents Multiplication Division Addition Subtraction Left to Right

Equality Properties

Multiplication Property of Equality Division Property of Equality Addition Property of Equality Subtract Property of Equality

Algebra I

Terms/Coefficients

Step-by-step explanation:

Step 1: Define

AB and BC must add up to AC

mAB + mBC = mAC

(2x - 4) + (3x + 2) = 48

Step 2: Solve for x

Combine like terms:                     5x - 2 = 48Add 2 on both sides:                    5x = 50Divide 5 on both sides:                x = 10

The ratio of cars to trucks in a parking lot is 2:5. If there are 254 cars, how many trucks are in the lot? What is the answer plz

Answers

Answer:

635 trucks

Step-by-step explanation:

So first e know the ratio is 2:5

The amount of cars are 254

So the 2 in the ratio which represents cars is 254

So w can make that as A ratio

2:254

The 5 is known but the actual amount is unknown so we can make that x

5:x

Now we gotta make them equal to each other

2:254=5:x

Turn into fraction

2/254=5/x

Cross multiply (proportion)

2x=1270

Solve

x=635

So 635 trucks

Write a function using function notation to describe each situation. Find a reasonably domain and range for each function. A newspaper charges $3 per line for the first 4 lines plus a $20 fee to advertize.

Answers

Answer:

The answer is below

Step-by-step explanation:

The domain of a function is the set of all independent variables for the function while the range of a function is the set of all possible dependent variables.

Let x represent the number of newspaper lines and f(x) be the charges for advertisement. x is the independent variable and f(x) is the dependent variable.

Since the newspaper charges $3 per line for the first 4 lines plus a $20 fee to advertise, the function is given as:

f(x) = 3x + 20 for 0 < x < 4

But for more than four lines, the charges is given as:

f(x) = 12 + 20 = 32         4 < x < ∞

Therefore, the domain and range of the function is:

Domain = (0, ∞)

Range = (20, 32}

5) The probability that a typist makes 0, 1, 2, 3, 4, or 5 mistakes on a page are, respectively

0.09, 0.11, 0.24, 0.21, 0.17, 0.05. What is the probability that the typist makes three or more

mistakes mistakes on a page.

Answers

Answer:

0.43

Step-by-step explanation:

Formatting the Given data into a probability distribution table :

X : ____ 0 __ 1 ___ 2 ____ 3 _____ 4 ____ 5

P(x) : _0.09_0.11 _ 0.24 _0.21 ___ 0.17 __ 0.05

Probability of making 3 or more mistakes :

P(x ≥ 3) = P(x = 3) + P(x = 4) + P(x = 5)

P(x ≥ 3) = 0.21 + 0.17 + 0.05

P(x ≥ 3) = 0.43

4.) Fill in the table to show a proportional relationship and then identify the
constant of proportionality for the cost to the number of yoga classes. In
the answer box, please list the constant of proportionality.

Answers

Answer/Step-by-step explanation:

✔️Number of Yoga classes = x

Cost ($) = y

Constant of proportionality (k) = y/x

Using the pair form the table of values given, (4, 60), find the constant of proportionality:

✅k = 60/4 = 15

Equation that represents the relationship between x and y is:

y = 15x

✔️Let's complete the table.

✅When number of yoga classes (x) = 2:

Substitute x = 2 into y = 15x

Thus,

y = 15*2 = 30

That is, 2 Yoga classes will cost $30

✅When number of yoga classes (x) = 6:

Substitute x = 6 into y = 15x

Thus,

y = 15*6 = 90

That is, 6 Yoga classes will cost $90

✅When number of yoga classes (x) = 8:

Substitute x = 8 into y = 15x

Thus,

y = 15*8 = 30

That is, 8 Yoga classes will cost $120

I will give brainiest to whoever answers correctly !!
Please do not steal my points I'm tired of it put a legit answer or leave!! I will give brainiest to whoever answers correctly!!

Answers

Answer:

The interest charged is $7.49.

After 29 days, Travis paid a total of $607.49

Step-by-step explanation:

Travis obtained a cash advance for $600.

The interest rate is 0.04305% per day.

The simple interest rate formula is given by:

[tex]I=Prt[/tex]

Where I is the interest, P is the initial amount, r is the rate, and t is the time (in this case in days).

Our initial amount P is $600.

Our interest rate r is 0.04305% or (moving the decimal two places to the left) 0.0004305.

Since Travis repaid the loan after 29 days, our t is 29.

Hence, our interest is:

[tex]I=600(0.0004305)(29)=7.4907[/tex]

So, the interest charged is about $7.49.

So, after 29 days, Travis paid a total of the original $600 plus an interest of $7.49 for a total of $607.49

Answer:

The interest charged is $7.49.

After 29 days, Travis paid a total of $607.49

Step-by-step explanation:

Travis obtained a cash advance for $600.

The interest rate is 0.04305% per day.

The simple interest rate formula is given by:

I=Prt

Where I is the interest, P is the initial amount, r is the rate, and t is the time (in this case in days).

Our initial amount P is $600.

Our interest rate r is 0.04305% or (moving the decimal two places to the left) 0.0004305.

Since Travis repaid the loan after 29 days, our t is 29.

Hence, our interest is:

I=600(0.0004305)(29)=7.4907

So, the interest charged is about $7.49.So, the interest charged is about $7.49.So, after 29 days, Travis paid a total of the original 600 plus an interest of 7.49 for a total of $607.49

Evaluate the algebraic expression 1.5t -7.2 for each given value 6 -5

Answers

Answer:

1.8 ; - 14.7

Step-by-step explanation:

Evaluate the algebraic expression 1.5t -7.2 for each given value 6 ; -5

For each of values 6 and - 5 ;

Substitute the values for t in the expression ; 1.5t - 7.2

Substituting 6 for t:

1.5(6) - 7.2

9 - 7.2

= 1.8

Substituting -5 for t:

1.5(-5) - 7.2

-7.5 - 7.2

= - 14.7

y = 23^x

Which table gives three values of x and their corresponding values of y for the given exponential equation.​

Answers

Answer:

I need to see the equation

If the supplement of <1 is 32º less than the measure of <1, what is m<1? a 1060 b 74o c 61o d 29o

Answers

Answer:

a. 106 degrees

Step-by-step explanation:

m=measure of angle 1; m-32 degrees=measure of supplement

m+(m-32 degrees)=180 degrees Add 32 degrees to each side.

2m=212 degrees Divide each side by 2

m=106 degrees ANSWER: The measure of angle 1 is 106 degrees

 

CHECK:

106+(106-32)=180

106+74=180

180=180

Let's say we have a box with 6 marbles: 3 red, 1 blue, 1 green, and 1 yellow. What is the probability of picking a yellow marble, returning it to the box, and then picking a blue marble?
1/12
1/30
1/36
1/11

Answers

Answer:

1/12

Step-by-step explanation:

you have 1/6 chance at drawing it once (one yellow marble, six total), so 1/12 to draw it twice.

The probability of picking a yellow marble, returning it to the box, and then picking a blue marble will be 1/36. Option C is correct.


What is probability?

It is defined as the ratio of the number of favorable outcomes to the total number of outcomes, in other words, the probability is the number that shows the happening of the event.

It is given that, we have a box with 6 marbles: 3 red, 1 blue, 1 green, and 1 yellow.

We have to find the probability of picking a yellow marble, returning it to the box, and then picking a blue marble.

The probability of picking a yellow marble, returning it to the box, and then picking a blue marble is obtained as,

=1/6 × 1/6

=1/36

Thus the probability of picking a yellow marble, returning it to the box, and then picking a blue marble will be 1/36. Option C is correct.

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Four students ran for Student Council President. The table lists the percent of votes each student received. Student Name Percent of Votes Alvaro 24% Bianca 30% Leticia 17% Gabriela 29% If 150 students voted, how many students voted for Bianca?

Answers

Answer:45

Step-by-step explanation:

150 x .30 = 45.00

Here is a list of ages (years) of children in a room: 2, 6, 5, 9, 6, 7, 2 State the median.

Answers

The median is 9 bc it’s in the middle

Dan invests £11125 into his bank account. He receives 3.3% per year simple interest. How much will Dan have after 4 years?

Answers

Answer:

£11564.54

Step-by-step explanation:

Write the exponent for the expression.
1/8 x 1/8

Answers

Answer:

[tex]8^{-2}[/tex]

Step-by-step explanation:

[tex]2^{-2} = 1/4[/tex]

So:

[tex]8^{-2} = 1/8*1/8[/tex]

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