You purchase a new car for $24,000. If you obtain a 5 year bank loan at 2.75% compounded monthly, what is your monthly loan payment?

Answers

Answer 1

Answer:

The monthly loan payment is of $458.88.

Step-by-step explanation:

Compound interest:

The compound interest formula is given by:

[tex]A(t) = P(1 + \frac{r}{n})^{nt}[/tex]

Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.

Amount owed after 5 years:

Loan of 24000 means that [tex]P = 24000[/tex]

5 years means that [tex]t = 5[/tex]

Interest rate of 2.75% means that [tex]r = 0.0275[/tex]

Compounded monthly means that [tex]n = 12[/tex]

The amount is A(5). So

[tex]A(t) = P(1 + \frac{r}{n})^{nt}[/tex]

[tex]A(5) = 24000(1 + \frac{0.0275}{12})^{12*5}[/tex]

[tex]A(5) = 27533[/tex]

What is your monthly loan payment?

$27,533 in 5 years = 5*12 = 60 months. So

27533/60 = 458.88

The monthly loan payment is of $458.88.


Related Questions

Which is equal to the cos ÐR?
PLEASE HELP ME

Answers

Answer: 4/5 = .8

cos adj/hyp of r is .8

HOWEVER...

I’m assuming it’s talking about angle R...

My teacher asked me 7 x 1/5 of 19, and I got immediately stumped. My brain is mush today.

Answers

Answer:

No lol that seems very confusing but was it 26.6?

Answer:  26.6

Step-by-step explanation:

7 times 1/5= 7/5

7/5 times 19= 26.6

I hope ti helps and may God bless you! have a nice day, bye!

I need help with a Delta math Assignment

Gabriella made 5% of her free throws over the season. If she shot 180 free throws, how many did she make?

Answers

Answer:

9

Step-by-step explanation:

The table shows the number of raisins found in 17 half-ounce boxes. Which line plot (dot plot) correctly displays the
data?

Answers

Answer: I think C.

Step-by-step explanation:

A race is 6.75 kilometers long. What is the distance of this race in meters?

Answers

Answer:

6750 meters

Step-by-step explanation:

1 kilometer = 1000 meters

1000*6.75=6750

Answer:

6750 meters

Step-by-step explanation:

Kilometers are equal to 1000 meters, so we can just multiply 6.75 x 1000 to get 6750 meters

Hurry, geometry math 7th grade

Answers

You need to find the area of the hexagon, and the area of the triangle.

The formula for the area of a triangle is

[tex]a = \frac{bh}{2} [/tex]

I hope this helps you a little.

Answer:

93.5 units^2

Step-by-step explanation:

a^2+b^2=c^2

a=3

b=?

c=6

b=√6^2-3^2

b=3√3=5.196

5.196×3=15.5884

15.5884×6

What single percentage change is equivalent to a 11% decrease followed by a 13% decrease?

Answers

Answer:

77.43% decrease

Step-by-step explanation:

A decrease of 11% = (100 - 11)% = 89% = [tex]\frac{89}{100}[/tex] = 0.89

A decrease of 13% = (100 - 13)% = 87% = [tex]\frac{87}{100}[/tex] = 0.87

A 11% decrease followed by a 13% decrease has an overall change of

0.89 × 0.87 = 0.7743 × 100% = 77.43%

Solve this question for brainlest. This is due at 6 pm

Answers

Answer:

2/5

Step-by-step explanation:

multiply length and width then divide the volume by the product of length times width

3/4 x 1/2 then divide 15/16

If the maximum of a data set is 50 and the minimum of the set is 10, what is the range?

Answers

Answer:

40

explanation:

The range is the difference between the smallest and highest numbers in a list or set. To find the range, first put all the numbers in order. Then subtract the lowest number from the highest. The answer gives you the range of the list.

A rectangular prism is shown.




What is the volume, in cubic inches, of this rectangular prisim

Answers

104

V=WxHxL
V=2x4x13=104

Answer:

Step-by-step explanation:

104 cubed , find the value of each side length x width x height

Gym A charges a registration fee of $75 plus $35.75 per month for members. Gym B charges a registration fee of $164 plus $17.95 for members. After how many months would the total cost at Gym A and Gym B be the same for members?

Answers

Five months
Reason: graph y=35.75x+75 and y=17.95x+164 and they connect in the middle of 253-254 for month 5

Which statement can be used to find X

Answers

Answer:

it's letter D. cos 16⁰=²¹--x

PLEASE LOOK AT PICURE THEN ANWSER, WHOEVER IS CORRECT I WILL MARK BRAINIEST :)

Answers

The answer is A. Hope u get it right

A company makes steel rods shaped like cylinders. Each rod has a radius of 4 centimeters and a height of 20 centimeters. The company uses, on average, 28,134.4cm3 of steel each hour to make these rods. How many rods does the company make, on average, each hour? If necessary, refer to the list of geometry formulas. For your calculations, do not round any intermediate steps, and use the π button on the ALEKS calculator. Round your answer to the nearest hundredth

Answers

Answer:

1,172.3 cm³

Step-by-step explanation:

Find the volume of one rod, then divide the total volume of steel used by the volume of one rod.  The volume of one rod is

V = (πd²/4)h

d = 4 cm

h = 20 cm

Plugin the numbers and get V in cm³, then divide the given total volume of 28,134.4 cm³ by V.  If the result is not an integer, then round down.

Add

20 + 4 = 24

Then

28,134.4 ÷ 24 = 1172.26

Rounded to the nearest 0.1 or  the Tenths Place = 1,172.3

Therefore, 1,172.3 rods will be made per hour.

Marcus has a bag of 10
red chips, 15 blue chips,
and 5 black chips. How
many times would he
expect to pick a red chip if
he did the experiment 60
times?
A) 10
B) 20
C) 30
D) 45

PLEASE HELP THIS IS DUE TODAY

Answers

Answer:

B

Step-by-step explanation:

Marcus can expect to have red chip 20 times.

What is probability?

Probability denotes the possibility of the outcome of any random event. The meaning of this term is to check the extent to which any event is likely to happen.

Given that, Marcus has a bag of 10 red chips, 15 blue chips, and 5 black chips.

He did an experiment 60 times and we need to find that how many times would he expect to pick a red chip,

So,

Here the favorable outcomes = red chips (10)

Total outcomes = all the chips = 15+5+10 = 20

So, the probability of finding a red chips for the 60 times = 10/20 x 60

= 30

Hence, Marcus can expect to have red chip 20 times.

Learn more about probability, click;

https://brainly.com/question/30034780

#SPJ2

A, B, C and D form the vertices of a parallelogram.
AD = 11.1cm, AB = 15.5cm and ZBAD = 71°.
Find the area of the parallelogram. Round to 1 DP.

Answers

Answer:

Area = 162.70 square centimetre.

Step-by-step explanation:

From the given question,

AD = 11.1 cm, AB = 15.5 cm and <BAD = 71°

The area of the parallelogram can be determined by;

Area = AD x AB x Sin <BAD

        = 11.1 x 15.5 x Sin 71°

        = 172.05 x 0.94552

Area = 162.67672

        = 162.70 [tex]cm^{2}[/tex]

Therefore, the area of the given parallelogram is 162.70 square centimetre.

Please only answer if you're 100% sure it's correct. Thank you. (It's pretty easy.)

Answers

2x-7 and 2+7 are the answers

Name 4 points that would form a square with the origin at is center.

Answers

9514 1404 393

Answer:

  (2, 3), (-3, 2), (-2, -3), (3, -2)

Step-by-step explanation:

You can pick any point you like, then rotate it around the origin to the four quadrants (or axes) by the transformation ...

  (x, y) ⇒ (-y, x) . . . . . . . . . 90° rotation CCW

That is a rotation 90° CCW. Of course a rotation CW can do the same thing for you.

__

One possible square is ...

     (2, 3), (-3, 2), (-2, -3), (3, -2)

A bowl is in the shape of a hemisphere. The radius of the bowl is 10 centimeters. How many liters of water can the bowl hold?
(1,000 cm = 1 liter)

Answers

Answer:

The bowl can hold 2.094 L.

Step-by-step explanation:

We want to find the volume of the hemisphere to calculate how many liters the bowl can hold. To find the volume of a hemisphere, we use this equation:

V = (2/3)•(π)•(r)³

Let's plug in what we know.

V = (2/3)(π)(10)³

Evaluate the exponent.

V = (2/3)(π)(1000)

Multiply.

V = 666.667π

V = 2094.395 cm³

Remember that 1000 cm = 1 liter, and we want to know how many liters the bowl can hold.

= 2094.395/1000

= 2.094 L

The bowl can hold 2.094 L.

Hope this helps!

What is the approximate value of 12−−√ ?


3.5


2


6


4.5

Answers

The answer is 3.5. Do you need me to explain or is that ok?

4. Find the greatest number which divides 171 and 251 leaving the remainders
3 and 6 respectively.​

Answers

Answer:

The answer is 7.

Examine the following diagram
BI
75 32
3
26592
3
D
75 32"
2859
E
© 2019 StrongMind Created using GeoGebra
If AABC 4AADE, what is the length of AE?
07
04
6
03

Answers

9514 1404 393

Answer:

  (a)  7

Step-by-step explanation:

The congruence statement tells you that AC ≅ AE. AC is marked as 7, so ...

  AE = 7

_____

Additional comment

If you solve the triangle using the Law of Sines, you find that AC = AE = 6.484, not 7.

Abeer sat a French test and a German test.
In the French test she scored 34 out of 50.
In the German test she scored 14 out of 20.
In which test did she do better?
You must show your working.

Answers

Answer:

German Test

Step-by-step explanation:

Find common denominator:

34/50=68/100

14/20=70/100

Therefore, Abeer did better on the German test as 14/20>34/50

A small hair salon in Denver, Colorado, averages about 30 customers on weekdays with a standard deviation of 6. It is safe to assume that the underlying distribution is normal. In an attempt to increase the number of weekday customers, the manager offers a $2 discount on 5 consecutive weekdays. She reports that her strategy has worked since the sample mean of customers during this 5 weekday period jumps to 35.

Required:
What is the probability to get a sample average of 35 or more customers if the manager had not offered the discount?

Answers

Answer:

0.0314 = 3.14% probability to get a sample average of 35 or more customers if the manager had not offered the discount

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean [tex]\mu[/tex] and standard deviation [tex]s = \frac{\sigma}{\sqrt{n}}[/tex].

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

A small hair salon in Denver, Colorado, averages about 30 customers on weekdays with a standard deviation of 6.

This means that [tex]\mu = 30, \sigma = 6[/tex]

5 consecutive weekdays.

This means that [tex]n = 5, s = \frac{6}{\sqrt{5}} = 2.6832[/tex]

What is the probability to get a sample average of 35 or more customers if the manager had not offered the discount?

This is 1 subtracted by the pvalue of Z when X = 35.

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

By the Central Limit Theorem

[tex]Z = \frac{X - \mu}{s}[/tex]

[tex]Z = \frac{35 - 30}{2.6832}[/tex]

[tex]Z = 1.86[/tex]

[tex]Z = 1.86[/tex] has a pvalue of 0.9686

1 - 0.9686 = 0.0314

0.0314 = 3.14% probability to get a sample average of 35 or more customers if the manager had not offered the discount

GIVING EVERYTHING IF CORRECT. NO MORE LINKS.

Answers

I think the answer is C

what is the answer to this?

Answers

Answer:

i can only say that you should use this forumla, the sins law

sin(a)/A = sin(b)/B = sin(c)/C

Step-by-step explanation:

Help me please, I don’t understand this at all

Answers

Answer: d

Step-by-step explanation:

aint no 90 cuz

Answer:

Not a right triangle

Step-by-step explanation:

root 4^2 + 6^2 is not equal to 7.5


Pls help me with this

Answers

Ur answer would be D! Hope that helps

Simplify. Please help me! (Exponents.) Picture added.

Answers

Answer:

it would be the last one i meant

Step-by-step explanation:

If there is a bracket you multiply the exponents
5x 2 =10
=6^10

5.23 - 22x2 – 177 + 17
T5​

Answers

Answer:

-198.77

Step-by-step explanation:

don't know what the t5 mean though here is your answer not including the T5

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