Answer:
Interest paid = $2,095.30
Step-by-step explanation:
Gertrude takes out a $5,500 subsidized Stafford loan.
The loan has an interest rate of 6.8%, compounded monthly.
Present Value = $5,500.
Time period = 10 years. So N = 10 x 12 = 120 months.
Interest rate, R = 6.8/1200 = 0.005666667
Then PV = Pmt * [1 - (1+R)^(-N)]/(R)
5500 = Pmt * [1 - (1+0.005666667)^(-120)]/(0.005666667)
Pmt = $63.29418157
She made total repayment = 63.29418157 x 120 = $7,595.30
Interest paid = Total repayment - Loan Principal = $7,595.30 - $5,500 = $2,095.30
Interest paid = $2,095.30
Answer:
Interest to be paid = $2904
Step-by-step explanation:
As we know the formula of per month installments
By putting the value of P (loan applied for)=$5500
r (Monthly rate of interest)
n = number of monthly installments = 10×12 = 120
E.M.I.=$63.29
Total Installments of loan =120
Therefore total amount paid against loan = $63.39×120=7594.28
So interest paid = 7594.28-5500= $2094.28
2. from 72 points to 50 points
Answer:
1. 185.71% 2. 30.56%
Step-by-step explanation:
(1) Initial no of books = 14
Final no of books = 40
Increase in books = 40-14 = 26
(2) Initial points = 72
Final points = 50
Decrease in points = 72-50= 22
Hence, this is the required solution.
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Answer:
AD is a straight angle and BC is straight also
Step-by-step explanation:
just look at the lines
Answer:
Approximately 17
Step-by-step explanation:
See added image