2) Albert has a $16,000, six-year loan with an APR of 7.25%.
a. What is the monthly payment?
b. What is the total amount of the monthly payments?
c. What is the finance charge?

Answers

Answer 1

For a standard,  year $16000 home/car loan 7.25% APR with payments due at the end of the month, calculate the monthly payment:

Calculate Months:

Your loan term is for years.

Months = 12 * Years

Months = 12 *

Months = 0

Now calculate monthly Annual Percentage Rate (APR):

APR  =   Annual APR

  12

APR  =   7.25

  12

 APR  =  0.0060416666666667 <----- This is the effective interest each month.

Now calculate Annual Percentage Yield (APY):

APY = ((1+APR)12 - 1) * 100%

APY = ((1 + 0.0060416666666667)12 - 1) * 100%

APY = ((1.0060416666667)12 - 1) * 100%

APY = (1.0749582974213 - 1) * 100%

APY = 0.074958297421329 * 100%

APY = 7.5% <----- What you actually pay in interest with monthly compounding.

Calculate our monthly loan payment:

Monthly Payment  =   Loan Amt * APR

  1 - (1/(1 + APR))n

Monthly Payment  =   16000 * 0.0060416666666667

  (1 - (1 /(1 + 0.0060416666666667))0

Monthly Payment  =   96.666666666667

  (1 - (1 / 1.0060416666667)0

Monthly Payment  =   96.666666666667

  1 - 0.99399461586250

Monthly Payment  =   96.666666666667

  1 - 1

Monthly Payment  =   96.666666666667

  0

Monthly Payment = 0

Now calculate the total number of payments you will make:

Total Payments = Monthly Payment * Months in the Loan

Total Payments = 0 * 0

Total Payments = $0.00

You will end up paying $0.00 - $16,000.00 = $-16,000.00 above the principal on this loan.


Related Questions

Math escape room maze ( I need help) I know it goes A,E,I but I don’t know what goes next)

Answers

Answer:

9

Step-by-step explanation:

Use angle summation:

∠HGE + ∠EGF = ∠HGF

3x + 11 + 110 = 16x + 4

117 = 13x

x = 9

Answer:

IK = 30

Step-by-step explanation:

31-12=19

49-19-12=18

12+18=30

Given A and B are vertical angles with m∠A = 20x + 10 and m∠B = 30x – 10. What is x? 3.6 4 2 9
i will give brainliest

Answers

Answer:

Step-by-step explanation:

∠A and ∠B are vertical => ∠A=∠B

20x+10=30x-10

20x-30x= -10-10

-10x= -20

x= -20 / -10 = 20 / 10 = 2

x=2

Good luck!

Answer:

2

Step-by-step explanation:

Ok remember this because its going to appear alot in geometry. Vertical angles are ALWAYS congruent and congruent means when two things are equal/ are the same.

If angle a and b are vertical angles what does that mean?

they are CONGRUENT!

you know A = 20x+ 10 and B= 30x-10

so you can write it as

20x+10 = 30x-10

because Angle A and B equal each other

then get the variable by itself so subtract -20x on both sides

10 = 10x-10

then add 10 to both sides which is

20 = 10x

and divide 10 on both side and 20 divided by 10 is 2

so 2 =x

which is the same as x =2  

Solve b + 3∕8 = 4∕9 for b.
Question options:

A)

5∕72

B)

59∕72

C)

1∕6

D)

32∕27

Answers

Answer:

5/72

Step-by-step explanation:

B would be 5/72 so the answer would be A

How many inch thick books can fit on a 14 1/2 inch-long bookshelf?

Answers

Answer:

14.

Step-by-step explanation:

14 1/2 / 1 = 14 1/2

answer 14.

Answer:

14 books

Step-by-step explanation:

At most 14 because it is 14 1/2 inches long

Draw the graph of y=-2x for x values from -3 to 3​

Answers

Answer:

(x,y) -> (-3,6)

(x,y) -> (-2,4)

(x,y) -> (-1,2)

(x,y) -> (0,0)

(x,y) -> (1,-2)

(x,y) -> (2,-4)

(x,y) -> (3,-6)

Step-by-step explanation:

Substitute each value in the range of x into your equation to get the corresponding y-coordinate.

Andrew bought 16 pears. He ate 4 pears. What percentage of the pears did Andrew eat? (1 point)

25%
32%
40%
64%

Answers

Answer:

25%

Step-by-step explanation:

Answer:

25

Step-by-step explanation:

4/16×100℅

1/4×100℅

25

what are decimal that repeat the same pattern

Answers

A decimal number with a digit or group of digits that repeats forever is called a repeating decimal.

what expression is equivalent to -3x^2 - 24x - 36

Answers

Answer

-3(x+2)(x+6)=0

Step-by-step explanation:

[tex]-3x^{2} -24x-36=0\\\Leftrightarrow -3(x^{2}+8x+12)=0\\\Rightarrow -3(x+2)(x+6)=0[/tex]

Write the equation of the line below

Answers

Y=1x-1 or Y=x-1. Either one is correct.

a. 19.6
b. 25.8
c. 18.1
d. 20.4​

Answers

Answer: I think the answer is B

Step-by-step explanation:

3. The points (80, 20) and (120, 30) form a proportional relationship. What is the
slope of the line that passes through these points? *

A)1/4
B)4
C)10
D)40

Answers

Answer:

6x6x55x5x5x2

Step-by-step explanation:

Answer:

its b

Step-by-step explanation:

A baseball team is having an end of the year party and the coach wants to purchase gloves and baseballs for the team. Gloves are sold in cases of 8 and baseballs are sold in cases of 12. The coach wants to buy the exact same number of gloves as baseballs.What is the least number of gloves and baseballs he would have to purchase to have the same number of each?

Answers

Answer: 24 is the least number of gloves and baseball need to purchase .

Step-by-step explanation:

Given:  Gloves are sold in cases of 8 and baseballs are sold in cases of 12.

To get the  exact same number of gloves as baseballs, the least number of gloves and baseball need to purchase = L.C. M. (8,12)

[L.C.M.= Least common multiple]

Since 8 = 2 x 2 x2

12 = 2 x 2 x 3

So,  L.C. M. (8,12) = 2 x 2 x 2x 3 = 24

Hence, the least number of gloves and baseball need to purchase = 24

Find the vector of the points p which divide Ac in the ratio 1:4​

Answers

Answer:

Where is the points p and ration?

Step-by-step explanation:

After Batman brought the Joker to justice, the crime rate in Arkham City decreased by 12\%12%12, percent. Previously, the crime rate was ccc incidents per 100010001000 people.


pls help me

Answers

Answer:

120

Step-by-step explanation:

4. Sophie can type 128 words in 3 minutes.
How many minutes will it take her to type 576
words?

Answers

Answer:

13.5 minutes

Step-by-step explanation:

128 = 3 minutes

128/3 = 1 minute worth of words

42.6 = 1 minute

576/42.6 = 13.5

Answer:

13.5min or 13min 30sec

Step-by-step explanation:

Sonya’s average so far is 84 for 3 math tests. What must she get on the fourth test to have an average of 88

Answers

Answer:

she will need to get a 100 on the fourth test

Step-by-step explanation:

(252+x)/4 = 88

252+x = 352

x = 100

3+ (-5)
Help me please

Answers

Answer:

-2

Step-by-step explanation:

3 + - 5 is basically 3 -5 because when a negative meets a positive the signs turn into a negative.

3 -5 is 5 less than three which is -2.

What is the difference of the fractions? Use the number line to help find the answer. One-half minus 1 and one-fifth A number line going from negative 2 to positive 2 in increments of StartFraction 1 over 10 EndFraction Negative 1 and StartFraction 7 over 10 EndFraction Negative StartFraction 7 over 10 EndFraction StartFraction 7 over 10 EndFraction 1 and StartFraction 7 over 10 EndFraction

Answers

Answer:

Negative StartFraction 7 over 10 EndFraction

Step-by-step explanation:

Given the expression [tex]\frac{1}{2} - 1\frac{1}{5}[/tex], we are to find the difference

First convert the mixed fraction [tex]1\frac{1}{5}[/tex] to improper fraction

[tex]1\frac{1}{5}[/tex] = [tex]\frac{6}{5}[/tex]

The expression becomes;

[tex]\frac{1}{2} - \frac{6}{5}[/tex]

Find LCM

[tex]\frac{5-6}{10}[/tex]

Evaluate the resulting expression

[tex]\frac{5-12}{10}\\\\\frac{-7}{10}[/tex]

Hence the correct option is C i.e Negative StartFraction 7 over 10 EndFraction

Answer:

the answer is B

Step-by-step explanation:

Can anyone help me with this question

Answers

Ok the answer is 1.456.7820

Simplify −9 + 1/4x − 6 − 1/8x.

Answers

Answer:

- 72x-1 /8x

Step-by-step explanation:

Answer: -15+1/8x

Step-by-step explanation:

-9+1/4x-6-1/8x

You must add the 9 and 6 because they are both negative numbers and you get -15. You would multiply 1/4 by two in order to subtract 1/4 from 1/8. You would have 2/8-1/8 which would get you 1/8.

The GCF of the numerator and denominator in 15/24 is _____.

8
3
2
5

Answers

Answer:

3

Step-by-step explanation: 8 can go into 24 perfectly but not 15 and 5 can go into 15 perfectly but not 24 but 24/3 is 8 and 15/3 is 5

You might say two could do the same thing which is true but we are talking about the GCF, they are asking for the greatest common factor so that's why the answer is 3

Answer:

3

basically,  8 can go into 24 exactly but 15 and 5 can not go into 15 perfectly neither can 24.  24/3 is 8 and 15/3 is 5

You might say two could do the same thing which is true but we are talking about the GCF, they are asking for the greatest common factor so that's why the answer is 3  :D

21
Which inequality represents the following statement?
"A number increased by 4 is at most 15."

Answers

Answer:

x + 4 ⩽ 15

Step-by-step explanation:

Let

The number = x

At least in inequality is ⩾ (greater than or equal to sign)

At most in inequality is ⩽ ( less than or equal to sign)

A number increased by 4 is at most 15.

x + 4 ⩽ 15

The inequality that represent the statement is x + 4 ⩽ 15

x + 4 ⩽ 15

x ⩽ 15 - 4

x ⩽ 11

If you can type 50 words per minute, how many minutes would it take you to type a 500 word essay

Answers

Answer:  10 minutes

==========================================

Work Shown:

A = 50 = number of words typed in 1 minute

B = 1 minute

C = 500 words

D = x minutes (needed to type 500 words)

A/B = C/D

50/1 = 500/x

50*x = 1*500 ... cross multiply

50x = 500

x = 500/50 .... divide both sides by 50

x = 10

You'll need 10 minutes to type 500 words

------------

Alternative approach:

50 words = 1 minute .... given speed

1 word = 1/50 minute ... divide both sides by 50

1 word = 0.02 minute

500 words = 10 minutes .... multiply both sides by 500

As per the given data, it would take approximately 10 minutes to type a 500-word essay at a typing speed of 50 words per minute.

If you have a typing speed of 50 words per minute, it means you can accurately type 50 words in one minute. This rate is often considered an average typing speed for proficient typists.

If I can type 50 words per minute, then to determine the number of minutes it would take to type a 500-word essay, we can divide the total number of words by the typing speed:

Time (in minutes) = Total words / Typing speed

Time = 500 words / 50 words per minute

Time = 10 minutes

Therefore, it would take approximately 10 minutes to type a 500-word essay at a typing speed of 50 words per minute.

For more details regarding typing speed, visit:

https://brainly.com/question/14292484

#SPJ6

help cant get this one trough my thick skull

Answers

C

63 is the sum of all their ages, meaning that this is their ages added altogether, eliminating A and D as answer choices since those show multiplication instead of addition. Next, the problem states that the three consecutive integers are odd. This statement eliminates B as an answer choice since it’s using three consecutive even integers. This leaves C as your final answer.

And it’s not that you have a thick skull, math can just be tricky sometimes, but you’ll get it! good luck! :)

What is the answer to
-4 ( 5x + 3)

Answers

Answer:

-20x - 12

Step-by-step explanation:

times -4 by everything inside the bracket

-4 times 5x = -20x

-4 times +3 = -12

-4(5x+3) = -20x - 12

(a positive times a negative is a negative)

hope this helps.

brainliest please?

x

Answer:

-20x - 12

Step-by-step explanation:

Distribute the '-4' into the terms in the parentheses.

[tex]-4(5x+3)\\\\-20x-12\\\\\left \{ {{-4*5x=-20x} \atop {-4*3=-12}} \right.[/tex]

Hope this helps.

Can someone please help me?? Ill give brainliest 20 points
Find an equation that can be solved in different ways.

Complete a two-column algebraic proof solving your equation.
Post your equation and two-column proof to the discussion board.

Answers

Answer:

This is an example of a two-column algebraic proof using 4x + 9 = 16 - 3x

Step-by-step explanation:

1. The quotient of twice a number and 7 is 20.

Answers

The equation would be:

2(x+7)=20

how many partial products are in area model A ​

Answers

Answer:

where is model A

Step-by-step explanation:


Mr. Mole left his burrow that lies 7 meters below the ground and started digging his way deeper into the
ground, descending at a constant rate. After 6 minutes, he was 16 meters below the ground.
Let y represent Mr. Mole's altitude (in meters) relative to the ground after 3 minutes.
Complete the equation for the relationship between the altitude and number of minutes.
y =

Report a problem

Answers

Answer:

it would be 34

Step-by-step explanation:

Answer:

y= -1.5x-7

Step-by-step explanation:

y= -16 (total amount of meters below ground)

m= -1.5 (slope; meters he descends per minute)

x= 6 (minutes)

b= -7 (starting point)

thus; y= -1.5x-7

because; -16=(-1.5)(6)-7

note; remember, they are descending so most of your values will be negative

Suppose that the number of bacteria in a certain population increases according to an exponential growth model, with a growth rate of 19% per hour. Suppose also that a sample culture of 2300 bacteria is obtained from this population. Find the size of the sample after five hours. Round your answer to the nearest integer.

Answers

Answer: 5489

Step-by-step explanation:

Given the following :

Growth rate (r) = 19% per hour

Sample culture in population = 2300

Size of sample after 5 hours =?

Using the exponential relation:

P = Po * r^t

P = population after 5 hours

Po = Initial sample population

t = time

P = 2300 * (1 +19%)^t

P = 2300 ×(1 + 0.19) ^5

P = 2300 * 1.19^5

P = 2300 * 2.3863536599

P = 5488.61341777

P = 5489 (nearest integer)

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