Suppose Sofia is considering a 5-year loan for $6,000 at an interest rate of 7%. Use the table to complete the statements. Type the correct answer in each box. Round your answer to the nearest cent. Monthly Payment per $1,000 of Principal 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 9.096 $87.45 $45.68 $31.80 $24.89 $20.76 Sofia's monthly payment would be $118.80 The total number of monthly payments that Sofia would make over the life of the loan is 60 finance charge on her loan would be $1,128.00​

Answers

Answer 1

a) The monthly payment for Sofia, who is considering the 5-year loan of $6,000 at an interest rate of 7%, would be $118.80.

b) The total number of monthly payments that Sofia would make for the 5-year loan of $6,000 at an interest rate of 7% is 60.

c) The total finance charge for Sofia, who is considering the 5-year loan of $6,000 at an interest rate of 7%, would be approximately $1,128.00.

How is monthly payment calculated?

The monthly payment to pay off a mortgage can be calculated using an online finance calculator as below.

Data and Calculations:

Loan amount = $6,000

Maturity period = 5 years

Interest rate = 7%

N (# of periods) = 60 months (5 years x 12)

Results:  

Monthly Payment = $118.81 ($34.02 + $84.79)

Mortgage Payment = $7,128.60 ($118.81 x 60)

Total of 60 Mortgage Payments $7,128.60

Total Interest = $1,128.60 ($7,128.60 - $6,000)

Monthly Amortization Schedule (for the first 3 months)

 Date Beginning Balance   Interest    Principal        Ending

                                                         Repayment    Balance

1 3/2022       $6,000.00             $35.00     $83.81       $5,916.19

2 4/2022         $5,916.19               $34.51     $84.30      $5,831.90

3 5/2022        $5,831.90              $34.02     $84.79      $5,747.11

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Answer 2

Answer:

The table shows monthly payments for every $1,000 of principal borrowed. For a 5-year loan at 7%, the payment on a $1,000 loan would be $19.80.

So, for a loan of $6,000, the payment would be $19.80 × 6 = $118.80.

A 5-year loan will have 60 monthly payments since 5 × 12 = 60.

Multiply the monthly payment by 60 months to get the total amount paid on the loan:

$118.80 × 60 = $7,128.

To calculate the total finance charge, subtract the principal amount from the total amount paid on the loan:

$7,128 − $6,000 = $1,128.

Step-by-step explanation:


Related Questions

A coin is flipped two times and the number of heads is counted. Which of the following is a valid assignment
of probabilities for the number of heads observed in two flips?
8.
Number of heads
Probability
0
1/10
1
5/10
2
4/10
b.
Number of heads
0
1
2
Probability
1/4
2/4
1/4
C.
0
1
Number of heads
Probability
2
1/3
1/3
1/3
d. All answer options are correct

Answers

Answer:

5/10, 1, 2/4,

Step-by-step explanation:

The following is the number of oil changes for the last 7 days at the Jiffy Lube located at the corner of Elm Street and Pennsylvania
Avenue.
41
15
39
54
31
15
33
Determine the mean, median, and mode. (Round "Mean" to 2 decimal places.)
Mean
Median
3257
54
Mode

Answers

The average or mean value of a data set is determined mostly by the addition of all data numbers and then divided by the set number of values.The median is the average whenever a dataset is arranged from the least to the highest.The mode is the value most frequently found in a set of data.

Given:

[tex]\to \bold{41,15,39,54,31,15,33}[/tex]

Arrange numbers into ascending order:

[tex]\to \bold{15, 15, 31, 33, 39, 41, 54 }[/tex]

Mean formula:

[tex]M=\frac{\text{total of given number}}{\text{total number}}[/tex]

    [tex]=\bold{ \frac{{15+ 15+ 31+ 33+ 39+ 41+ 54 }}{7}}\\\\= \bold{\frac{228}{7}}\\\\= \bold{32.57}\\\\[/tex]

Median formula:

n=7 that is an odd number then

[tex]=\bold{(\frac{n+1}{2})^{th}} \ term\\\\=\bold{(\frac{7+1}{2})^{th}} \ term\\\\=\bold{(\frac{8}{2})^{th}} \ term\\\\=\bold{(4)^{th}} \ term\\\\ =\bold{33}[/tex]

Mode:

As per the above-given definition its value =15  

Learn more:

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Help help help please hurry

Answers

Answer:

1st is a cilinder

2nd is a sphere

3rd is a rectangle

4th is a cone

formulas for volume..maybe...

Which of the following is equal to 3,409? A. ( 3 × 10 4 ) + ( 4 × 10 3 ) + ( 9 × 10 1 ) B. ( 3 × 10 3 ) + ( 4 × 10 2 ) + ( 9 × 10 0 ) C. ( 3 × 10 2 ) + ( 4 × 10 1 ) + ( 9 × 10 0 ) D. ( 3 × 10 3 ) + ( 4 × 10 2 ) + ( 9 × 10 1 )

Answers

Answer:

A=1633

B=1617

C=1610

D=1626

Step-by-step explanation:

I am not totally sure about 3409 ?

None of the following option sum up to 3400 or close.

What is sum ?

Sum is addition

According to the question given we have to determine which of the following is 3409.

A. ( 3 × 104 ) + ( 4 × 103 ) + ( 9 × 101 )

= 312 + 412 + 909.

= 724 + 909

= 1633.

B.  ( 3 × 103 ) + ( 4 × 102 ) + ( 9 × 100 )

= 309 + ......

C. 300 + 400 + 900 not sum up to 3400.

D. 300 + 400 + 900 again not sum up to 3400

So, none of the following options sum up to or sum up close to 3400.

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The circled ones I need help on

Please help I don’t get it

It’s asking if it’s equal to or not equal to

Answers

Answer:

Both questions seem to be equal

Step-by-step explanation:

1.12: X, Y, and Z are equal to A, B, and C since they are all variables.

1.13: 0 has the value of nothing so in a way that would mean it can equal the empty box.

I hope this helps. It is a bit confusing since I do not know the main objective.

Please help!
Find the value of x for which ABCD must be a parallelogram.

Answers

Answer:

x=5

Step-by-step explanation:

5x-8=2x+7

5x-2x=7+8

3x=15

X=15/3

x=5

Answer:

5

Step-by-step explanation:

cause

angle c and angle a are alternate angle and alternate angle are always equal so 5X-8=2x+7

5x-2x=7+8

3x=15

or x=5

find the total distance the model airplane

Answers

Answer:

1833 miles is the total distance if the model airplane.

i need help with this equation.


g= -2+2a

Answers

Answer: a= [tex]g+2 / 2[/tex]

Step-by-step explanation:

g= -2 + 2a

>> -2+2a=g ( side change )

>> -2+2a +2 = g+2 ( adding 2 both side)

>> 2a = g+2

>> 2a /2 = g+2 /2 ( divide by 2 both side)

>> a= g+2 /2

Find the midpoint of points A(-4,0) and B(3,-10) graphically.

Answers

Answer:

(7,10)

Step-by-step explanation:

(7, 10) , hope this helps

Find the midpoint M of the two sets of points. (Use midpt. formula)
X(-3, 4) Y(1, -1)
0 (-1,2.5)
(-2, 2.5)
0 (-1, 1.5)
(-2, 1.5)

Answers

Answer:

(-1, 1.5)

Step-by-step explanation:

[tex]A=4\pi r^2[/tex]

Answers

Answer:

I have attached an image for the answer

please mark as brainliest thanks!

Answer:

i dont know, sorry

Step-by-step explanation:

Answers will be auto-submitted when time expires.
1. Answer the question below. (1 point)
Which function is quadratic?
A
X
O
1
2
6
3
0
у
18
12
0
B
х
-3
-1
-2
1
-1
3
5
y
C
८x
-2
4
0
0
2
4
4
16
D
X
1
5
2
7
3
9
4
11
y
Ο Α

Answers

Answer:

Try taking a screen shot as this is indecipherable.

Step-by-step explanation:

3s(4 + 6)2 is an example of

Answers

Answer:

A. An Algebraic Expression

Step-by-step explanation:

Since we have no equal sign in the problem, we know that it is an expression. An equation has an equal sign and another value so we can simplify to find the value of whatever variable we are working with. We also know that it is not anything numerical because we are working with variables. With this information we will see that the correct answer is A.

Best of Luck!

Answer:

options A an algebraic expression

Step-by-step explanation:

please mark me brainleast

I am a prime number.
Tam two digits.
The sum of my digits is 8.
My tens digit is 6 less than my ones digit.

Answers

Answer:

17

Step-by-step explanation:

17 is a prime number17 has two digitsThe digits in 17, 1 and 7, add up to 8The tens digit is 6 less than the ones digit place.

50% is 20% of what number?

Answers

Answer:

I think the answer is 30 percent

Express the edge length of a cube as a function of the cube's diagonal length d. Then express the surface area and volume of the cube as a function of the diagonal length.

a. A function for the edge length of a cube is L(d) = _________________
b. A function for the surface area of a cube is Ald) = _____________
c. A function for the volume of a cube is V(d) = ________________

Answers

Answer:

Step-by-step explanation:

If L is the length of a side, the longest diagonal in the cube is

d = √(L² + L² + L²) = √(3L²) = L√3

meaning

a) L(d) = d/√3 = ⅓d√3

b) A(d) = 6(L(d))² = 6(⅓d√3)² = 6(⅟₉d²(3)) = 2d²

c) V(d) = (L(d))³ = (⅓d√3)³ = ⅟₂₇d³3√3 = ⅟₉d³√3

7+6(-8x-7)=3(-6x+8)+1

Answers

Answer:

x = -2

Step-by-step explanation:

7 - 48x - 42 = - 18x + 24 + 1

-35 - 48x = -18x + 25

-48x +18x = 25 =35

-30x = 60

x = -2

Answer:

-2

Step-by-step explanation:

7+6 (-8x-7)=3 (-6x+8)+1

7-48x-42= -18x+24+1

-48+18= 24+1-7+42

-30x=60 then divide the two sides with -30

x= -2


If a gas tank can hold 30 gallons, how many gallons does it contain when it is three-fifths full?​

Answers

Answer:

3/5 of 30 = (3/5)*30

3/5 of 30 = (3/5)*303/5 of 30 = (3*30)/5

3/5 of 30 = (3/5)*303/5 of 30 = (3*30)/53/5 of 30 = 90/5

3/5 of 30 = (3/5)*303/5 of 30 = (3*30)/53/5 of 30 = 90/53/5 of 30 = 18

3/5 of 30 = (3/5)*303/5 of 30 = (3*30)/53/5 of 30 = 90/53/5 of 30 = 18So when the tank is 3/5 full, there are 18 gallons in the tank.

A pool charges $7 for 2 daily pool passes.
Which table could represent the situation?

Answers

Answer:

Therefore, membership of the pool will be less expensive until number of visits to the pool is one fourth of the membership.

Option B is the table which could represent the given situation.

What is a linear equation?

A linear equation is an equation in which the highest power of the variable is always 1. It is also known as a one-degree equation.

According to the question

A pool charges $7 for 2 daily pool passes.

Using the linear equation y = mx + b

Substitute x = 2, y = 7

[tex]7 = 2m + b[/tex].....(1)

Substitute x = 4, y = 14

[tex]14 = 4m + b[/tex]  .....(2)

Using elimination method

Subtract equation 1 from 2

[tex]14 - 7 = 4m - 2m + b - b[/tex]

[tex]7 = 2m[/tex]

[tex]m=\frac{7}{2}[/tex]

Substitute m = [tex]\frac{7}{2}[/tex] in equation 1

[tex]7=2(\frac{7}{2} )+b[/tex]

b = 7 - 7

b = 0

Substitute b = 0 in equation 1

7 = 2m

Similarly

14 = 4m

21 = 6m

28 = 8m

Hence, Option B is the table which could represent the given situation.

Find out more information about linear equation here

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Find the length of Jl.
JI=2x - 6
KJ=2x - 15
KI=15

Answers

Answer:

x=12

Step-by-step explanation:

2x-15 + 2x-6 = 15

4x = 36

x = 9

2 x 9 - 6 = 12

What is the measure of the largest angle?

Answers

Answer:

90°

Step-by-step explanation:

The angles of a triangle have a sum of 180°.

x + 2x + 3x = 180

6x = 180

x = 30

Substitute the value for the largest variable.

3(30) = 90

5 [ 4 − ( − 2 ) ] + 6

Answers

Answer: 36

Step-by-step explanation:

Given expression

5 [4 - (-2)] + 6

Expand parentheses

5 [4 + 2] + 6

Simplify values in the bracket

5 [6] + 6

Simplify by multiplication

30 + 6

Simplify by addition

[tex]\boxed{36}[/tex]

Hope this helps!! :)

Please let me know if you have any questions

USE PEMDAS NEXT TIME
-parentheses
-exponents
-multiply
-divide
-add
-subtract
( in that order ) to find your answer
you should get the answer 36

Simplify equation 9/-4-7i

Answers

Answer:

[tex] - \frac{36}{65} + \frac{63}{65} i[/tex]

Step-by-step explanation:

[tex] \frac{9}{ - 4 - 7i} [/tex]

➡️ [tex] \frac{9( - 4 + 7i)}{( - 4 - 7i) \times ( - 4 + 7i)} [/tex]

➡️ [tex] \frac{ - 36 + 63i}{16 - 49 {i}^{2} } [/tex]

➡️ [tex] \frac{ - 36 + 63i}{16 - 49 \times ( - 1) } [/tex]

➡️ [tex] \frac{ - 36 + 63i}{16 + 49} [/tex]

➡️ [tex] \frac{ - 36 + 63i}{65} [/tex]

➡️ [tex] - \frac{36}{65} + \frac{63}{65} i[/tex] ✅

Does anyone know how to divide a fourth degree polynomial

Answers

Answer: Polynomial long division can be used to divide a polynomial by any polynomial with equal or lower degree. The Division Algorithm tells us that a polynomial dividend can be written as the product of the divisor and the quotient added to the remainder.

Step-by-step explanation:

Please help with this equation:

4.5(8-x)+36=102-2.5(3x+24)

Answers

answer

x=14

Step-by-step explanation:

4.5(8-x)+36=102-2.5(3x+24)

36-4.5x+36=102-7.5x-60

-4.5x=42-7.5x

7.5x-4.5x=42

3x=42

x=42/3

x=14

write down what you know from the markings​

Answers

Answer:

YMCA means nothing without the A

Step-by-step explanation:

The base of a triangle measures 12 1/2" (twelve and 1/2 inches). The height of the triangle is 27". What is the area (in square inches)?

(Remember A=1/2base x height)

Answers

Answer:

168.75 in²

Step-by-step explanation:

12.5 * 27 = 337.5

337.5/2 = 168.75

If my answer is incorrect, pls correct me!

If you like my answer and explanation, mark me as brainliest!

-Chetan K

Find the perimeter of a rectangle with a length of 6x+3 and a width of -2x-5.

Answers

L=6x+3B=-2x-5

[tex]\\ \rm\longmapsto Perimeter=2(L+B)[/tex]

[tex]\\ \rm\longmapsto Perimeter=2(6x+3-2x-5)[/tex]

[tex]\\ \rm\longmapsto Perimeter=2(4x-2)[/tex]

[tex]\\ \rm\longmapsto Perimeter= 8x-4[/tex]

Given w = 2+2i, Find w+1/w​

Answers

Answer:

0

Step-by-step explanation:

w+1/w=(2+2i)+1/(2+2i)

=(2+2i)+(2+2i)-1

=0

calculate the arthmetic mean of 40,50,60,70,80,90.

Answers

9514 1404 393

Answer:

  65

Step-by-step explanation:

The six numbers are sequential multiples of 10, so the mean is halfway between the middle two. Halfway between 60 and 70 is 65.

The mean of the 6 numbers is 65.

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