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

Find positive numbers x and y satisfying the equation xy=20 such that the sum 4x+y is as small as possible.

Answers

The answer is 4 and 5.

They are 2 positive numbers that satisfy the equation, (5)(4)=20.

If that doesn’t work try 2 and 10.

Hope this works!! :)

What is the total measurement of Rope 1 and Rope 2 if Rope 1=25.675cm and Rope 2= 25.85 cm

Answers

Answer:

51.525cm

Step-by-step explanation:

What is the Bill of Rights?
The first amendment to the Constitution, which is actually a group of ten amendments
The list of laws that people of the United Stated needed to follow
The document that replaced the Constitution
The document that replaced the Articles of Confederation

Answers

Answer:

The first amendment to the Constitution, which is actually a group of ten commandments

Step-by-step explanation:

The first amendment to the Constitution is actually a group of ten amendments called the Bill of Rights. The Bill of Rights guarantees all Americans certain freedoms, such as freedom of religion, freedom of the press, freedom of speech, the right to bear arms, and the right to a fair trial.

geomtry plzzzz help 15 points

Answers

Answer:

True.

Step-by-step explanation:

The sides of a triangle rule asserts that the sum of the lengths of any two sides of a triangle has to be greater than the length of the third side. this makes it possible for the triangle to be formed.

Please take a look at the picture for the question

Answers

Answer:

A

Step-by-step explanation:

What is the relationship between the 9 in the hundreds place and the 9 in the tens place in 2,743,995?

Answers

Hundred and tenths are the relationship of 9 in the number

Answer:

The 9 in the hundreds column is ten times greater than the 9 in the tens column.

Step-by-step explanation:

Help me please (I have to write something to send a question)​

Answers

Answer:

yshannmm

Step-by-step explanation:

yes

The error Leah made was that she subtracted 1.2x from 1/4x instead of adding them together.

A class of 22 students has taken an exam, and the mean of their scores is 76.5. One student takes the
exam late, and scores 92. After including the new score, what is the mean score for all 23 exams? Round
to the nearest hundredth.

Answers

The new class average would be 77.17

Who is the general information of accounting

Answers

Answer:

General accounting essentially refers to general ledger collection and accounting activities that include account charges in credits and debits and documenting financial statements for a quarter, calendar or fiscal year.

m 130 degrees n 130 degrees what is t

Answers

Answer:

50 degrees

Step-by-step explanation:

that line is a 180 degree and 180-130=50

What is 8/m - 11/3m=?

Answers

Answer:

8/3m + 8

Step-by-step explanation:

What is 8/m - 11/3m=?

8/m - 113m =

(3 - 11/3)m + 8 =

8/3m + 8

Answer:

13/3m

Step-by-step explanation:

Help help help help help help help

Answers

Answer:

90

Step-by-step explanation:

1. At her new job Mary earns $100 more than twice the salary she earned as a college intern.
If she now earns $2100, how much did she earn as an intern?

Answers

Answer:

$1000

Step-by-step explanation:

Inverse operation

2100-100=2000

2000/2=1000

Sorry if its wrong but hope this helpssss

What is the equation of this line in slope-intercept form? (-1,5) (1,-1)




y = 3x - 2

y = -1/3x + 2

y = -3x + 2

y = 3x + 2

Answers

The answer is Y=3x+2

A shopper needs 24 sandwich rolls. The store sells identical rolls in 2 differently sized packages. They sell a six-pack for $5.28 and a four-pack for $3.40. Should the shopper buy 4 six-packs or 6 four-packs? Explain your reasoning. 20 points!!!!!!!!

Answers

Answer:

6 four-packs.

Step-by-step explanation:

My reasoning for 6 four-packs is that, the shopper needs 24, right? And if that shopper buys 6 four-packs it'll be cheaper than the larger package. The 6 four-packs come to a cost of $20.04. But the 4 six-packs will come out as $21.12. The shopper will be able to save $1.08 :)

Frank is going to buy some ties
at $7.50 per tie and some shirts
at $18.50 per shirt. If he buys
twice as many ties as shirts and
spends no more than $205, what is the greatest number of shirts he
can buy? [All prices include tax.]

Answers

Answer:

  6 shirts

Step-by-step explanation:

The cost of a shirt and 2 ties is ...

  $18.50 +2(7.50) = $33.50

For $205, Frank can buy $205/$33.50 = 6.12 sets of shirt and ties.

Frank can buy 6 shirts (and 12 ties) for an amount less than $205.

_____

Additional comment

Frank's cost will be $201 for that purchase.

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

If one real number is equal to a second real number, and the second real number is equal to a third real number, then the first real number must equal the third:
If a = b and b = c, then a = c

Answers

Answer: In particular, let’s focus our attention on the behavior of each graph at and around . 2 and x= -1 for x < 2. There are open circles at both endpoints (2, 1) and (-2, 1). The third is h (x) = 1 / (x-2)^2, in which the function curves asymptotically towards y=0 and x=2 in quadrants one and two."

Step-by-step explanation: I think this is the problem ur on

The given relation → If a = b and b = c, then a = c is called transitive law and it holds true for all real numbers.

What is an equation and an expression?

An equation is a statement that the depicts the values of two mathematical expressions as equal using an (=) sign. Example -

2x = 5

An expression is written using individual terms (either constant or variable) separated by mathematical operations. Example -

3x + 5y + 3

We have -

If a = b and b = c, then a = c.

The given relation holds true for all real numbers. This law is called transitive law. So, if A=5 for example, then B and C must both also be 5 by the transitive property

Therefore, the given relation → If a = b and b = c, then a = c is called transitive law and it holds true for all real numbers.

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Sarah took the advertising department from her company on a round trip to meet with a potential client. Including Sarah a total of 10 people took the trip. She was able to purchase coach tickets for ​$160 and first class tickets for ​$1020. She used her total budget for airfare for the​ trip, which was ​$8480. How many first class tickets did she​ buy? How many coach tickets did she​ buy?

Answers

Answer: 6 coach class tickets and 2 first class tickets

Step-by-step explanation:

PLZ HELP ASAP! WILL MARK BRAINLY

Answers

Step-by-step explanation:

42 5/9 + 7 1/12 = 49 23/36 metres

it is to be added because one ant is at the top and the other is deep below

Six players compete in a tournament. Each player plays exactly two
games against every other player. In each game, the winning player
earns 2 points and the losing player earns 0 points. If the game results in
a draw (tie), each player earns 1 point. What is the minimum possible
number of points that a player needs to earn in order to guarantee that
he/she will be champion (i.e he/she has more points than every other
player)?

Answers

Step-by-step explanation:

6 players.

every player plays 2 games against every other player.

so, for each player there are 5 "other players" and everybody plays therefore 10 games.

the maximum number of points to get is 10×2 = 20 points.

the question is now not what is the minimum number of points a champion can have.

the question is rather what is the minimum number of points to guarantee the win of the championship no matter how the others played.

so, the study case scenario for the winner is to have only one real competitor for the title.

both players win every game against the other 4 players.

that is already 2×4×2 = 16 points.

and now it all depends on the 2 games against each other. to be sure, the winner needs at least 1 win and 1 tie in these 2 games. that are 3 more points.

so, to be absolutely sure, the champion needs to have at least 16+3 = 19 points.

The minimum possible number of points that a player needs to earn in order to guarantee that he/she will be champion 16+3 = 19 points.

What is unitary method?

The unitary method is a technique for solving a problem by first finding the value of a single unit, and then finding the necessary value by multiplying the single unit value.

Given:

Every player plays 2 games against every other player.

Then there will be 5 players left who will 10 games

So, the maximum number of points = 10*2 = 20

winning player earns 2 points

as, both players win every game against 4 players.

which gives = 2×4×2 = 16 points.

Now, in remaining two game the  winner needs at least 1 win and 1 tie

which needs 3 more points.

Hence, the minimum possible number of points that a player needs to earn in order to guarantee that he/she will be champion 16+3 = 19 points.

Learn more about unitary method here:

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How many groups of 1/2 are in 7

Answers

Answer:

14

Step-by-step explanation:

There would be 14 groups of 1/2 in seven

74E10. La siguiente gráfica relaciona el precio a pagar en pesos por el número de horas en un estacionamiento público.
¿Cuál es el pago, en pesos, que se debe efectuar por haber dejado el carro en el estacionamiento 3 horas 15 minutos?
A)20 B)40 C)46 D)50

Answers

Usando una función lineal, se encuentra que el pago es:

C) 46

Una funcion lineal tiene el seguiente formato:

[tex]y = ax + b[/tex]

En que:

a eres lá inclinacion, o sea, la taja de cambio. b eres el intercepto, o sea, el valor de y cuando x = 0.

En la gráfica, hay los puntos (0,20) y (5, 60), por eso:

El intercepto es [tex]b = 20[/tex]

La taja es dada por el cambio en y dividido por el cambio en x, o sea:

[tex]a = \frac{60 - 20}{5 - 0} = 8[/tex]

Por eso:

[tex]y = 8x + 20[/tex]

Con 3 horas y 15 minutos, el tiempo es de 3.25 horas, puesto que [tex]\frac{15}{60} = 0.25[/tex], por eso:

[tex]y = 8(3.25) + 20 = 46[/tex]

Un problema similar es dado en https://brainly.com/question/24543328

Six less than the product of four and a number X

Answers

[tex]6 < 4x[/tex]

Hope this helps:)

A restaurant has a rectangular patio section that is 8 meters wide by 6 meters long. They want to use fencing to enclose the patio.
How much fencing will they need to go around their new patio?
meters

Answers

308

This is the answer

The restaurant will need 28 meters of fencing to enclose their new patio.

Here, we have to calculate the amount of fencing needed to enclose the rectangular patio, we need to find the perimeter of the patio.

The perimeter of a rectangle is the sum of all its sides.

Given:

Width (W) = 8 meters

Length (L) = 6 meters

The formula for the perimeter (P) of a rectangle is:

P = 2 * (Width + Length)

Plug in the values:

P = 2 * (8 meters + 6 meters)

P = 2 * 14 meters

P = 28 meters

So, the restaurant will need 28 meters of fencing to enclose their new patio.

Learn more about perimeter here:

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A car traveled 81.6 mi in 1.6 hours.

Rate is found by dividing distance by time.

What is the rate in miles per hour?

Answers

Answer:

51

Step-by-step explanation:

81.6/1.6

Hope this helps. :)

The hourly median power (in decibels) of received radio signals transmitted between two cities
follows a lognormal distribution with parameter values u = 3.5 and o2 = 1.22.

(5 points) What is the 90th percentile of this distribution?

(5 points) What is the probability that received power for one of these radio signals is
less than 150 decibels?

(5 point) Consider a random sample of 10 radio signals. What is the probability that for
6 of these signals, the received power is less than 150 decibels?

Answers

Using the lognormal and the binomial distributions, it is found that:

The 90th percentile of this distribution is of 136 dB.There is a 0.9147 = 91.47% probability that received power for one of these radio signals is  less than 150 decibels.There is a 0.0065 = 0.65% probability that for  6 of these signals, the received power is less than 150 decibels.

In a lognormal distribution with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{\ln{X} - \mu}{\sigma}[/tex]

It measures how many standard deviations the measure is from the mean.  After finding the z-score, we look at the z-score table and find the p-value associated with this z-score, which is the percentile of X.

In this problem:

The mean is of [tex]\mu = 3.5[/tex].The standard deviation is of [tex]\sigma = \sqrt{1.22}[/tex]

Question 1:

The 90th percentile is X when Z has a p-value of 0.9, hence X when Z = 1.28.

[tex]Z = \frac{\ln{X} - \mu}{\sigma}[/tex]

[tex]1.28 = \frac{\ln{X} - 3.5}{\sqrt{1.22}}[/tex]

[tex]\ln{X} - 3.5 = 1.28\sqrt{1.22}[/tex]

[tex]\ln{X} = 1.28\sqrt{1.22} + 3.5[/tex]

[tex]e^{\ln{X}} = e^{1.28\sqrt{1.22} + 3.5}[/tex]

[tex]X = 136[/tex]

The 90th percentile of this distribution is of 136 dB.

Question 2:

The probability is the p-value of Z when X = 150, hence:

[tex]Z = \frac{\ln{X} - \mu}{\sigma}[/tex]

[tex]Z = \frac{\ln{150} - 3.5}{\sqrt{1.22}}[/tex]

[tex]Z = 1.37[/tex]

[tex]Z = 1.37[/tex] has a p-value of 0.9147.

There is a 0.9147 = 91.47% probability that received power for one of these radio signals is  less than 150 decibels.

Question 3:

10 signals, hence, the binomial distribution is used.

Binomial probability distribution

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

[tex]C_{n,x} = \frac{n!}{x!(n-x)!}[/tex]

The parameters are:

x is the number of successes. n is the number of trials. p is the probability of a success on a single trial.

For this problem, we have that [tex]p = 0.9147, n = 10[/tex], and we want to find P(X = 6), then:

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

[tex]P(X = 6) = C_{10,6}.(0.9147)^{6}.(0.0853)^{4} = 0.0065[/tex]

There is a 0.0065 = 0.65% probability that for  6 of these signals, the received power is less than 150 decibels.

You can learn more about the binomial distribution at https://brainly.com/question/24863377

A triangle has sides with lengths of 2 centimeters, 4 centimeters, and 5 centimeters. Is it a right triangle?
PLEASE HELP

Answers

Answer:

No

Step-by-step explanation:

Use Pythagorean to verify:

2² + 4² = 5² 4 + 16 = 2520 = 25

As we see the equation is not true, so the answer is no

Let's use Pythagorean theorem to verify

[tex]\\ \sf\longmapsto H^2=P^2+B^2[/tex]

[tex]\\ \sf\longmapsto 5^2=4^2+2^2[/tex]

[tex]\\ \sf\longmapsto 25=16+4[/tex]

[tex]\\ \sf\longmapsto 25\neq 20[/tex]

Not a right triangle

Cute Castle Toy Store is having its annual holiday sale, when every toy in the store gets
marked down. During the sale, Ted purchases 4 Mighty Muscle action figures to add to his
collection, each at $3 less than full price. Ted pays a total of $92. How much does each
Mighty Muscle action figure cost at full price?

Answers

Each Mighty Muscle action figure cost $26 at full price.

Let x represent the cost of Mighty Muscle action figure at full price.

He bought 4 Mighty Muscle action at $92, hence:

4(x - 3) = 92

Simplifying the parenthesis:

4x - 12 = 92

Add 12 to both sides:

4x - 12 + 12 = 92 + 12

4x = 104

Dividing both sides by 4:

4x/4 = 104/4

x = 26

Therefore, each  Mighty Muscle action figure cost $26 at full price

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If a line falls on the points (7, 10) and (4,8), what is its slope? Enter your
answer as a fraction in lowest terms. Use a slash mark (/) as the fraction
bar
Anwaren
I
SUBMIT
- PREVIOUS

Answers

Answer:

The slope is 2/3

Step-by-step explanation:

hope this answer helps!!!

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