Find the total amount of interest earned on this savings account. Time: 7 years Interest Rate: 2.5% Principal: $4,556 Interest:

Answers

Answer 1

Answer: Interest rate is a portion of a loan that is charged as interest. Usually, it is expressed as an annual interest rate. It has two types which are the simple interest rate and the compounding interest rate. For this, we have a simple interest rate. Calculations are as follows:

Interest earned = 4556 x 0.025 x 7 = $797.3

Answer 2

Answer:

$797.30

Step-by-step explanation:

I did the assignment .,.

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What does 6/7 x 1/3 equal

Answers

Answer:

2/7

Step-by-step explanation:

6/7×1/3=6×1/7×3

6/21=2/7

What is the general solution for (cosX + sinX)(1 - 2sinX)=0

Answers

1. square both sides, a straight forward method.
2. hand plot
3. calculator plot, not recommended.Let Y=sin x + cos x -1
Y=0, find x=?
4. Substitute 1=sin^2(x) + cos^2(x) on the right hand side
Y1=sin^2(x) - sin(x)
Y2=cos^2(x) - cos(x)
Y1 + Y2=0, Y1=0, Y2=0,
a(a-1)=0, so, a=0, a=1, where a=sin(x), or cos(x),
so x=0, pi/2
Have a good day!

Which solid figure has one polygon base?

pyramid
cone
cylinder
prism

Answers

Answer:

pyramid

hope this helped! :)

Answer:

Your answer is a pyramid.

Step-by-step explanation:

While a cone also only has one base, it's base is a circle, which is not considered a polygon. The other two choices have two bases.

Dahlia is trying to decide which bank she should use for a loan she wants to take out. In either case, the principal of the loan will be $19,450, and Dahlia will make monthly payments. Bank P offers a nine-year loan with an interest rate of 5.8%, compounded monthly, and assesses a service charge of $925.00. Bank Q offers a ten-year loan with an interest rate of 5.5%, compounded monthly, and assesses a service charge of $690.85. Which loan will have the greater total finance charge, and how much greater will it be? Round all dollar values to the nearest cent.a.
Loan Q’s finance charge will be $83.73 greater than Loan P’s.
b.
Loan Q’s finance charge will be $317.88 greater than Loan P’s.
c.
Loan P’s finance charge will be $20.51 greater than Loan Q’s.
d.
Loan P’s finance charge will be $234.15 greater than Loan Q’s.

Answers

To solve this, we are going to use the loan payment formula: $P= ( (r)/(n)(PV))/(1-(1+ (r)/(n))^(-nt) )$

where

$P$ is the payment

$PV$ is the present debt

$r$ is the interest rate in decimal form

$n$ is the number of payments per year

$t$ is the time in years

For Bank P

We know from our problem that the the principal of the loan will be $19,450, so $PV=19450$ . We also know that Bank P offers a nine-year loan with an interest rate of 5.8%, compounded monthly , so $t=9$ and $r=(5.8)/(100) =0.058$ . Since Dahlia will make monthly payments, and a there are 12 months in a year, $n=12$ . Lets replace the values in our formula:

$P= ( (r)/(n)(PV))/(1-(1+ (r)/(n))^(-nt) )$

$P= ( (0.058)/(12)(19450))/(1-(1+ (0.058)/(12))^(-(12)(9)) )$

$P=231.59$

Now we know that the monthly payment of Dahlia is $231.59. Since we know that she is going to make 12 monthly payments for 9 years, we can calculate the future value of the loan multiplying the amount of the monthly payments ($231.59) by the number of monthly payments (12) by the number of years (9):

$FV=(231.59)(12)(9)$

$FV=25011.72$

Now we know that she is is going to pay $25,011.72 for her loan. Finally, to calculate the total finance charge, we are going to subtract the original loan ( $19,450) from the future value of the loan ($25,011.72), and then, we are going to add the service charge ($925.00):

$FinanceCharge=(25011.72-19450)+925$

$FinanceCharge=6486.72$

The total finance charge of bank P is $6,486.72

For Bank Q

We are going to repeat the same procedure as before.

$P=19450$ , $r=(5.5)/(100) =0.055$ , $n=12$ , and $t=12$ . Lets replace the values in our formula:

$P= ( (0.055)/(12)(19450))/(1-(1+ (0.055)/(12))^(-(12)(10)) )$

$P=211.08$

Now that we have our monthly payment, we can calculate the future value of the loan multiplying the amount of the monthly payments ($211.08) by the number of monthly payments (12) by the number of years (10):

$FV=(211.08)(12)(10)$

$FV=25329.6$

Just like before, to calculate the total finance charge, we are going to subtract the original loan ( $19,450) from the future value of the loan ($25,329.6), and then we are going to add the service charge ($690.85):

$FinanceCharge=(25329.6-19450)+690.85$

$FinanceCharge=6570.45$

The total finance charge of bank Q is $6570.45

Notice that the finance charge of ban Q is greater than the finance charge of bank P, so we are going to subtract the finance charge of bank Q from the finance charge of bank P:

$6570.45-6486.72=83.73$

We can conclude that Loan Q’s finance charge will be $83.73 greater than Loan P’s. Therefore, the correct answer is a.

Answer:

a. Loan Q’s finance charge will be $83.73 greater than Loan P’s.

Step-by-step explanation:

2x - 2 = 12???????????????

Answers

Add 2 To Each Side

2x = 14

x = 7

2x - 2 = 12
add 2 on each side

2x=14
divide by 2 on each side

x=7

Can some one show me how to do this

Answers

Divide both sides by 12 so you can get n by itself. you would divide 12n by 12 and you would get just n. You would also divide 36 by 12 which would be 3 so the answer is N=3.

12n=36 divide 12 to both side and you will get n=3

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