Rate 1 Year 2 Years 3 Years 4 Years 5 Years
6.5% $86.30 $44.55 $30.65 $23.71 $19.57
7.0% $86.53 $44.77 $30.88 $23.95 $19.80
7.5% $86.76 $45.00 $31.11 $24.18 $20.04
8.0% $86.99 $45.23 $31.34 $24.41 $20.28
8.5% $87.22 $45.46 $24.65 $24.65 $20.52
9.0% $87.45 $45.68 $31.80 $24.89 $20.76
A.
$355.65
B.
$975.00
C.
$1,682.40
D.
$2,071.20
E.
$17,071.20
The total finance charge over the course of his loan is $2071.20.
It is required to find the total finance charge.
Simple Interest can be defined as the sum paid back for using the borrowed money, over a fixed period of time. Compound Interest can be defined as when the sum principal amount exceeds the due date for payment along with the rate of interest, for a period of time. Formula. S.I. = (P × T × R) ⁄ 100.
Given that:
Loan= $15,000
The table tells you that Bob's monthly payment on a 4-year loan at 6.5% will be 23.71 per thousand borrowed.
The sum of those 48 payments is ...
=48 × $23.71 =
=$1138.08
That means, Bob pays $138.08 in total finance charge for each $1000 he borrows. He is borrowing 15 times $1000.
so his total finance charge will be
= 15 × $138.08
= $2071.20
Therefore, the total finance charge over the course of his loan is $2071.20.
Learn more about simple & compound interest here:
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Answer:
D.
$2,071.20
Step-by-step explanation:
Answer:
It's already there or it's not then put in 100
Step-by-step explanation:
The number 5 is the exponent or power and the number 4 is the base of the expression.
Algebra is the study of abstract symbols, while logic is the manipulation of all those ideas.
The acronym PEMDAS stands for Parenthesis, Exponent, Multiplication, Division, Addition, and Subtraction. This approach is used to answer the problem correctly and completely.
The exponential expression is given as,
⇒ (4)⁵
In the exponential expression aⁿ, the n is the exponent or power and a is the base of the expression.
Then in the exponential expression (4)⁵, the number 5 is the exponent or power and the number 4 is the base of the expression.
More about the Algebra link is given below.
#SPJ2
Answer:
4 is the BASE and 5 is the EXPONENT
Step-by-step explanation:
Thx i needed this answer :P
B.excess expense
C. a surplus
D.a deficit
Answer: The correct options are
(d) 720.
(a) 336.
(c) 132.
(a) 5040.
Step-by-step explanation: The calculations are as follows:
(1) The number of ways in which six books be arranged on one shelf is given by
So, the total number of ways is 720.
Option (d) is CORRECT.
(2) Given that there are 8 girls competing in an ice-skating competition.
So, the number of ways in which they can finish in first, second, and third place is given by
Thus, the total number of ways is 336.
Option (a) is CORRECT.
(3) The number of ways in which a president and vice president can be selected from a class of 12 is given by
Thus, the total number of ways is 132.
Option (c) is CORRECT.
(4) The number of ways in which 7 students can line up for a class picture is given by
Thus, the required number of ways is 5040.
Option (a) is CORRECT.