Suppose that Marlie had decided to apply for a private loan rather than a federal loan. She has

been offered a private loan for 10 years with an APR of 7.8%.

a. Determine her monthly payment.

b. What is the total amount she will pay back?

c. What is the total interest amount?

Answers

Answer 1

Using simple interest, and considering a loan of $5,000, it is found that:

a) Her monthly payment is of $74.17.

b) She will pay back $8,900.

c) The total interest amount is of $3,900.

The amount of money after t years in simple interest is modeled by:

[tex]A(t) = A(0)(1 + rt)[/tex]

In which:

A(0) is the initial amount. r is the interest rate, as a decimal.

In this problem:

The loan is of $5,000, hence [tex]A(0) = 5000[/tex].The APR is of 7.8%, hence [tex]r = 0.078[/tex]10 years, hence [tex]n = 10[/tex]

Item b:

[tex]A(10) = 5000[1 + 0.078(10)] = 8900[/tex]

She will pay back $8,900.

Item a:

$8,900 will be paid in 10 x 12 = 120 months, hence:

[tex]M = \frac{8900}{120} = 74.17[/tex]

Her monthly payment is of $74.17.

Item c:

Loan of $5,000, pays back $8,900, hence:

8900 - 5000 = 3,900

The total interest amount is of $3,900.

A similar problem is given at https://brainly.com/question/13176347


Related Questions

What is the coefficient of x in expression of 5mx​

Answers

Coefficient of this expression is 5 only.

- BRAINLIEST answerer

WHICH OF THE FOLLOWING IS NONLINEAR FUNCTION?

Answers

Answer:

Option A.

Step-by-step explanation:

Try To Cross Check It 1st

PLEASE IM GONNA DIE Paloma rides a scooter. She travels 10 ft. For every 1 second.

Hannah says that Paloma’s ratio of seconds traveled to feet traveled is 10:1. Is Hannah correct? Use a model to explain your thinking​

Answers

Answer:

She is incorrect; Paloma's ratio of seconds travelled to feet travelled is 1:10.

Step-by-step explanation:

Her ratio is 1:10 because the first number is the number of seconds, and the second number is the number of feet. So for every 1 second, she travels 10 feet, as indicated in the original problem.

Hope this helps.

a. A teacher has 5 rulers. Each
ruler is one foot long and 3 of
them are plastic. What is the total
length of the rulers if they are
laid end to end?
Х
=

Answers

Answer:

5

Step-by-step explanation:

Since each is 1 foot long and there is 5, then, the total length is 5

eight times a number

Answers

Answer:

Equals the same number 8 times itself, this is the equation: 8X.

Step-by-step explanation:

Answer:

Look down.

Step-by-step explanation:

8x1=8

8x2=16

8x3=24

8x4=32

8x5=40

8x6=48

8x7=56

8x8=64

8x9=72

8x10=80

I dont know if this is what you were asking for but its all yours now!

please help with t his question

Answers

Answer: 15 inches

Step-by-step explanation:

15 × 1 ÷ 12 = 1.25 ft

1.25 ft = 1.25 × 12 = 15 in

The deepest point in the world is the Mariana Trench in the western Pacific Ocean. It is 36,198 ft below sea level. What integer represents this depth?

Answers

Answer:

-36,198 feet below sea level

Step-by-step explanation:

Mikey's family is taking a road trip. Their car can travel no more than 260 miles without needing to refill the gas tank. They have traveled 112 miles since they last filled the gas tank.

Mikey knows that the inequality representing this situation is 112+x≤260.

Select from the drop-down menu to correctly interpret the solution of this inequality.

Mikey's family can drive
at most 148
more miles before they need to refill the gas tank.
Answers choices are:
More than 372
More than 372
at most 148
at least 148

Answers

The solution to the inequality is that Mikey's family can drive at most 148

Inequality shows the non equal comparison of numbers or expressions.

Given that Mikey situation can be represented by the inequality:

112 + x ≤ 260

Solving the inequality:

112 + x ≤ 260

Subtract 112 from both sides of the equation:

112 + x - 112 ≤ 260 - 112

x ≤ 148

Hence from the inequality, we can see that Mikey's family can drive

at most 148

Find out more at: https://brainly.com/question/25285332

Find the measure of ∠B. Angles are in the image below, Need answers ASAP if possible thanks!

Answers

Answer:

30

Step-by-step explanation:

The red square means it equals 90 degrees

90 - 60 = 30

I hope this helps

A car is being compacted into a rectangular solid. The volume is decreasing at a rate of 2 m3/sec. The length and width of the compactor are square, but the height is not the same length as the length and width. If the length and width walls move toward each other at a rate of 0.25 m/ sec, find the rate at which the height is changing when the length and width are 2 m and the height is 1.5 m.

Answers

Using implicit differentiation, it is found that the height is changing at a rate of -0.875 m/sec.

The volume of a rectangular solid of length l, width w and height h is given by:

[tex]V = lwh[/tex]

Applying implicit differentiation, the rate of change of the volume is given by:

[tex]\frac{dV}{dt} = wh\frac{dl}{dt} + lh\frac{dw}{dt} + lw\frac{dh}{dt}[/tex]

In this problem:

Volume is decreasing at a rate of 2 m3/sec, hence [tex]\frac{dV}{dt} = -2[/tex]The length and width walls move toward each other at a rate of 0.25 m/ sec, hence [tex]\frac{dl}{dt} = \frac{dw}{dt} = 0.25[/tex]Length and width are 2 m and the height is 1.5 m, hence [tex]l = w = 2, h = 1.5[/tex]

Then:

[tex]\frac{dV}{dt} = wh\frac{dl}{dt} + lh\frac{dw}{dt} + lw\frac{dh}{dt}[/tex]

[tex]-2  = 2(1.5)(0.25) + 2(1.5)(0.25) + 2(2)\frac{dh}{dt}[/tex]

[tex]4\frac{dh}{dt} = -3.5[/tex]

[tex]\frac{dh}{dt} = -\frac{3.5}{4}[/tex]

[tex]\frac{dh}{dt} = -0.875[/tex]

The height is changing at a rate of -0.875 m/sec.

A similar problem is given at https://brainly.com/question/9543179

what is -4 3/4 = x - 1 1/5

Answers

Answer:

12.95 or in fraction form  259/20

Step-by-step explanation:

Do you want to know how to write the decimal number 12.95 as a fraction?

Here we will show you step-by-step how to convert 12.95 so you can write it as a fraction.

You can take any number, such as 12.95, and write a 1 as the denominator to make it a fraction and keep the same value, like this:

12.95 / 1

To get rid of the decimal point in the numerator, we count the numbers after the decimal in 12.95, and multiply the numerator and denominator by 10 if it is 1 number, 100 if it is 2 numbers, 1000 if it is 3 numbers, and so on.

Therefore, in this case we multiply the numerator and denominator by 100 to get the following fraction:

1295 / 100

 

Then, we need to divide the numerator and denominator by the greatest common divisor (GCD) to simplify the fraction.

The GCD of 1295 and 100 is 5. When we divide the numerator and denominator by 5, we get the following:

259 / 20

Therefore, 12.95 as a fraction is as follows:

259 / 20


A car travels a distance of 7575 meters in a time of 25 hours. What is the car's speed?

Answers

Answer:

303 miles per hour

Step-by-step explanation:

Evaluate. (2a−1/3)÷b/15 when a=−4/5 and b=−2.25 Enter your answer as a simplified mixed number in the box.

Answers

[tex](2a - ⅓) \div \frac{b}{15} \\ (2 \times - \frac{4}{5} ) \div \frac{ - 2.25}{15} \\ - \frac{8}{5} \times \frac{15}{ - 2.25} \\ = \frac{ - 8}{ - 6.75} = \frac{8}{6.75} [/tex]

what has a fraction in numerator, denominator or both???

Answers

a fraction that has a numerator and a denominator, is called a Complex fraction, i’m not sure if this is what you were asking for though.

I don’t wanna fail if you know the answer pls help me :(

Answers

Answer:

5.62790697674

Step-by-step explanation:

there you go

Answer:

the annswer is 5

Step-by-step explanation: you just have to divide the highlighted numbers, which are 20 ÷ 5

A rectangular board is 1100 millimeters long and 800 millimeters wide. What is the area of the board in square meters? Do not round

Answers

Answer:

880 square meters

Step-by-step explanation:

You need to find the area of the rectangular board, which would be 1100x800=880000 square millimeters. 1 meter=1000 millimeters, so you divide 880000 by 1000, getting 880 square meters.

The area of the board is 880 square meters.

Area of rectangle

You need to find the area of the rectangular board, which would be 1100x800=880000 square millimeters.

1 meter=1000 millimeters, so you divide 880000 by 1000, getting 880 square meters.

Learn more about area of rectangle here https://brainly.com/question/25292087

#SPJ2

You pay a real estate agent a 4% commission for selling your
house. After paying the commission, you receive $302,900. What
was the actual selling price of the house?
Yes

Answers

Answer:

Step-by-step explanation: 56

Divide 2/3 by 1/5. Simplify your answer and write it as a mixed number.

Answers

Answer:

3.33

Step-by-step explanation:

3.33

mixed number= 3 1/3

Answer:

3 1/3

Step-by-step explanation:

[tex]\frac{\frac{2}{3}}{\frac{1}{5}}[/tex] =

[tex]\frac{2}{3} * \frac{5}{1} = \frac{10}{3}[/tex]

10/3 = 3 1/3

-Chetan K

Please help me find my gpa I don’t know how

I have a C, A, B the rest are f

Answers

Answer:

Your GPA would be 1.5 If you have 6 periods.

Step-by-step explanation:

A = 4 GPA Points

B = 3 GPA points

C = 2 GPA Points

D = 1 GPA Points

F = 0 GPA Points

With that knowledge you calculate 2 (C) + 4 (A) + 3 (B) + 0 (F) + 0 (F)  + 0 (F) assuming you have 6 periods which adds up to 9. You divide  by the number of periods (6) totaling to 1.5 GPA Points.

A box contains orange balls and green balls. The number of green balls is seven more than three times the number of orange balls. If there are 103 balls altogether, then how many green balls and how many orange balls are there in the box?

Answers

Answer:

Step-by-step explanation:

x = orange ball count

y = green ball count

y = 3x + 7

x + (3x + 7) = 103

4x = 96

x = 24 orange balls

y = 103 - 24 = 79 green balls

or

y = 3(24) + 7 = 79

Answer:

52 green, 15 orange!

Step-by-step explanation:

take reference from the following image:

Solve 2|x + 2| – 3 ≥ 0 by graphing

Answers

this is the answer of the equation as a graph

A bottle of medicine holds 0.25 litres.
The instructions on the bottle of medicine say: 'Take two 5 ml spoonfuls three times a day
How many days will a full bottle of medicine last?

Answers

Answer:

this is the correct answer happy

GIVING OUT BRAINLIEST!!

Answers

Answer:

Jill plz tell if i am right

Step-by-step explanation:

give me schoology website

There are 4 rows of seats in each of first class and business class and there are 32 rows of seats in economy class. How many rows of seats are there on the planes?

Answers

Answer:

4 + 4 + 32 = 40 rows

Step-by-step explanation:

Solve the inequality

-5/7 - 6/7z < -2/7

Answers

[tex]-\cfrac{5}{7}-\cfrac{6}{7}z~~ < ~~-\cfrac{2}{7}\implies \stackrel{\textit{multiplying both sides by }\stackrel{LCD}{7}}{-5-6z~~ < ~~-2} \\\\\\ \stackrel{\textit{dividing by a negative value}}{-6z~<~3\implies z ~\stackrel{\stackrel{notice}{\downarrow }}{>}~\cfrac{3}{-6}}\implies \boxed{z~>-\cfrac{1}{2}}[/tex]

1.1 is the result of finding the product of 1/2 and 3 minus a number. What is the number?
A. 5 1/5
B. 2 9/20
C. 4/5
D. -19/20

Answers

Answer: i think the answer is B.

Step-by-step explanation:

D can’t be correct cause it’s a negative and there’s no negatives in the question , if you look at B 2 9/20 can go into 1/2.

Answer:

C. 4/5

Step-by-step explanation:

k12

The temperature in antartica is 20 degrees below freezing at night. During the day, the temperature increases
by 30 degrees. What is the daytime temperature?

Answers

Answer:

42

Step-by-step explanation:


Help help help help help

Answers

Answer:

  x = 42

Step-by-step explanation:

The marked angles are supplementary, so their sum is 180°.

  (2x +8) +(2x +4) = 180

  4x +12 = 180 . . . . . . . . . simplify

  x +3 = 45 . . . . . . . divide by 4 (because we can)

  x = 42 . . . . . . subtract 3

_____

Additional comment

A "two-step" linear equation like this one is usually solved by subtracting the unwanted constant, then dividing by the coefficient of the variable. Here, we have done those steps in reverse order. This makes the numbers smaller and  eliminates the coefficient of the variable. Sometimes I find it easier to solve the equation this way.

Twenty-five students were randomly selected and asked "How many hours of TV did you watch this weekend?" The sample mean for the data is 5 hours.
The dotplot below shows the distribution of the sample mean hours of TV watched for 500 random samples of size 25 taken with replacement from the
original sample.
45
6
S.S
Simulated sample mean
Distribution of Simulated Mean
• samples mean SD
500 4.969 0.288
Use the results of the simulation to approximate the margin of error for the estimate of the mean number of hours of television watched. (answer in the
format 0.123)

Answers

Using a confidence level of 95%, the margin of error for the estimate of the mean number of television hours watched will be 1.129

The approximate margin of error can be calculated using the relation :

Margin of Error = [tex] Z_{\frac{α}{2}} \frac{σ}{\sqrt{n}} [/tex]

Sample size, n = 25 Standard deviation, = 2.88Confidence level = 95%

[tex] Z_{\frac{α}{2}} = 1.96 [/tex]

Margin of Error = [tex] 1.96 \frac{2.88}{\sqrt{25}} [/tex]

Margin of Error = [tex] 1.96 \frac{2.88}{5} [/tex]

Margin of Error = [tex] 1.96 \times 0.576 [/tex]

Margin of Error = [tex] 1.129 [/tex]

Therefore, the margin of error for the estimate of the mean number of television hours watched is 1.129.

Learn more : https://brainly.com/question/25630111

Please help my son asked me for this and I don't understand it.

Answers

Answer:

y = 2x + 3

Step-by-step explanation:

In the slope-intercept form of the equation of a line,

y = mx + b,

m = slope, and b = y-intercept.

Let's look at Adriana's equation and understand the parts:

y = 2x + 4

y = mx + b

m = slope = 2; b = y-intercept = 4

Now let's look at the description of Henry's equation.

He has the same slope as Adriana, so for Henry, m = 2 also.

His y-intercept is 1 less than Adriana's, so it is 1 less than 4. Henry's y-intercept is 3.

Now that we know that for Henry, m = 2, and b = 3, we can write his equation.

y = mx + b

y = 2x + 3

Answer: y = 2x + 3

Answer:

y=2x+3

Step-by-step explanation:

The answer is gonna be y=2x+3. The 2 is the slope so it needs to stay the same. the 4 in the original equation is the y intercept so to move it one unit lower you just subtract 1 and get your answer

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