Answer:
5
Step-by-step explanation:
Answer:
-6n + 5 = 59
-6n = 54
n = -9
Answer: n = -9
Step-by-step explanation: you subtract the 5 from both sides leaving the equation to -6n=54. then you divide both sides by -6 leaving it with n = -9
The 4-year loan at 7.5% APR seems to be the best choice as it strikes a balance between a reasonable monthly payment and minimizing the total interest paid.
To determine which loan option best meets your needs, you should consider both the monthly payment amount and the total cost of the loan. Here's how you can calculate and compare the three options:
1. 3-year loan at 7% APR:
- Monthly payment: $325
- Total payments over the loan term: $325 * 12 months/year * 3 years = $11,700
- Total interest paid: $11,700 - $15,000 = $3,300
2. 4-year loan at 7.5% APR:
- Monthly payment: $325
- Total payments over the loan term: $325 * 12 months/year * 4 years = $15,600
- Total interest paid: $15,600 - $15,000 = $600
3. 5-year loan at 8% APR:
- Monthly payment: $325
- Total payments over the loan term: $325 * 12 months/year * 5 years = $19,500
- Total interest paid: $19,500 - $15,000 = $4,500
Now, let's analyze the options:
- The 4-year loan at 7.5% APR has the highest monthly payment but the lowest total interest cost, making it the most cost-effective option. However, you should ensure that the higher monthly payment fits comfortably within your budget.
- The 3-year loan at 7% APR has a lower interest cost than the 5-year loan but a higher monthly payment. It's a good middle-ground choice if you can afford the monthly payments.
- The 5-year loan at 8% APR offers the lowest monthly payment but results in the highest total interest cost. It's the least cost-effective option, and you would end up paying significantly more over the loan term.
Ultimately, the 4-year loan at 7.5% APR seems to be the best choice as it strikes a balance between a reasonable monthly payment and minimizing the total interest paid. However, ensure that the monthly payment aligns with your financial situation before making a decision.
For more such questions on monthly payment:
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Answer:
the 5yr/ $270mth
Step-by-step explanation:
$15k × 8% = $1200 interest
$15k + $1200 = $16,200.00
$16500 ÷ 60months (5years) = $270/mth pymt
set if they have 15 songs to pick from? /(10 pts)
Answer:
If they have 15 songs to choose from and they can only pick three, that means they might have 5 different ways of choosing those songs.
Answer:
x=1, x=-6
Step-by-step explanation:
x^2+5x-6=0 can be reduced to (x+6)(x-1)=0
we now have x+6=0 and x-1=0
solve by subtracting 6 from each side in the first equation and adding 1 to each side in the second.
x=1, x=-6