Ricky is taking out a personal loan for $12,000 to remodel his kitchen. He would like the lowest monthly payment possible, even if it means a bigger finance charge in the end. His bank has offered him a loan at 13% interest for 36 months or 12% interest for 60 months, both of which are compounded monthly. Which of the following statements most accurately describes what Ricky should be thinking? a. More payments with the 60 month loan will give him the lowest monthly payment. b. Fewer payments with the 36 month loan will give him the lowest monthly payment. c. The 60 month loan comes with a bigger finance charge and, thus, a bigger monthly payment. d. The 36 month loan comes with a bigger finance charge and, thus, a bigger monthly payment.
Answer : The correct Option is A.
Step-by-step Explanation :
To solve this we are going to use the monthly payment formula:
[tex]\text{Payment = }\frac{Rate\times Principal}{1-(1+Rate)^{-n}}}[/tex]
where, Principal is the amount of the loan
n is the number of periods.
Option A. 13% interest for 36 months compounded monthlyRicky is taking out a personal loan for $12,000 and term of the loan is 36 months ⇒ n = 36. To find the rate per period, we first need to convert the interest rate to decimal form ⇒ Rate = 0.13.
Now since the bank is charging him the interest rate for the 36 months, we just need to divide the interest rate (in decimal form) by the number of months (36) to find the rate per period
[tex]\implies\text{Rate per period = }\frac{0.13}{36}[/tex]
So, putting all these values in the formula, We get monthly payment of loan A = $356.07
Option B : 12% interest for 60 months compounded monthlyinterest rate in decimal form = 0.12
By replacing the values in formula the monthly payment of loan B is $212.44
Option C and Option D are obviously denied as the financial charge is not effected by the monthly payments so ricky will not be thinking about the financial charge.Now, Monthly payments of loan B are significantly low than that of monthly payments of loan A.
So, we can conclude that the correct answer is a. More payments with the 60 month loan will give him the lowest monthly payment.
Answer:
A
Step-by-step explanation:
sally has scores of 88, 92, 80, and 96. find the score she must make on the next exam to have an average of 90
I have a rug has a length that is 2 times the width the area of the rug is 8 square feet What is the length and width of the rug
how many times that a one-to-one function crosses the horizontal line?
We want to see how many times a one-to-one function crosses the x-axis (this is equivalent to see how many values of x are mapped into y = 0).
We will see that it crosses the x-axis only one time.
A function is a relation that maps elements from one set, the domain, into elements from another set, the range. Such that each element in the domain can be mapped into only one element in the range.
Now we add the restriction that the function is one-to-one, this means that no two elements from the domain can be mapped into the same element from the range.
With this is easy to see that the one-to-one function crosses the horizontal line only once, as the value y = 0 can be assigned to only one value in the domain.
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In calculating the monthly payment for a five-year loan, what value should be used for n, the number of periods over which the loan is repaid, as it appears in the following formula? 2007-10-03-00-00_files/i0060000.jpg a. 5 b. 12 c. 60 d. 120
Answer:
The answer is: c. 60.
Step-by-step explanation:
To calculate the monthly payment for 5 years, the 12 months of 1 year should be multiplied by the 5 years of the duration, which is equal to 60 = 5 x 12.
The answer is: c. 60.
graph of the quadratic function f(x)=‒(x+4)(x‒6) is shown on the coordinate grid below.
Which statement is not true?
A.
The maximum of this function occurs when y=25.
B.
The function increases in the interval 1 to 6.
C.
The has a zero at (‒4,0).
D.
The function positive in the interval ‒4 to 6.
Answer:
Option B is not true.
Step-by-step explanation:
The quadratic function is f(x) = -(x + 4)(x - 6)
Now we check each option given
Option A.
It is clear from the graph function is maximum at y = 25.
TRUE.
Option B.
Function increases in the interval 1 to 6.
Let's check this at x = 2 and x = 3
f(2) = -(2 + 4)(2 - 6)
= -(6)(-4)
= 24
f(3) = -(3 + 4)(3 - 6)
= - (7)(-3)
= 21
So we find this function is decreasing in this interval.
So the given option is FALSE.
Option C.
The function has a zero at (-4, 0)
f(-4) = -(-4 + 4)(-4 + 6) = 0
So the function has a zero at (-4, 0).
Option is True.
Option D.
The function is positive in the interval -4 to 6
f(x) = -(x + 4)(x - 6)
f(-3) = -(-3 + 4)(-3 - 6)
= -(1)(-9)
= 9
f(0) = -(0 + 4)( 0 - 6)
= 24
Therefore, this function is positive in this interval so the option is TRUE.
Option B is not true.
The volume of a rectangular box can be found using the formula lwh where l represents the length, w represents the width, and h represents the height of the box. What is the volume of a box with the following dimensions?
l = 4 centimeters
w = 5 centimeters
h = 6 centimeters
120 cm 3
456 cm 3
15 cm 3
34 cm 3
multiply the 3 dimensions together
4*5 = 20 *6 = 120 cm^3
Solve the following system by the substitution method. Check the solution(s). 0.1x+0.2y=-0.6 and 0.6x-0.3y=2.3
a real estate developer is looking to find help fund a new condo complex.he promises 145% return on investment in four years. if youre interested in investing $30,000 and the developer follows through on his promise, how much money will you get back in four years?
calculate the length of the hypotenuse
hypotenuse =sqrt( a^ + b^
10^2 = 100
14^2 = 196
196+100 = 296
sqrt(296) = 17.20
Answer is D. 17.20
If a refrigerator is a heat pump that follows the first law of thermodynamics, how much heat was removed from food inside of the refrigerator if it released 492J of energy to the room? Joules
4000 is 1/10 as much as what number
To find a number that is 1/10 as much as 4000, you would multiply 4000 by 10, resulting in 40000.
To find the number that is 1/10 of 4000, you need to divide 4000 by 1/10, which is the same as multiplying by its reciprocal, 10.
Step 1: Write down the expression:
Let ( x ) be the number we're looking for.
Step 2: Set up the equation:
[tex]\[ x = \frac{4000}{\frac{1}{10}} \][/tex]
Step 3: Multiply by the reciprocal:
x = 4000 \times 10
Step 4: Solve:
x = 40000
So, the number that is 1/10 as much as 4000 is 40000.
An 8 foot length of 4 inch wide crown molding costs $16. How much will it cost to buy 40 feet of crown molding?
At the beginning of a bake sale mary set aside 4 pies for herself karen bought half of the remaining pies for her birthday party and 5 more pies were sold during the sale. When the sale was over there were 19 pies remaining. How msny pies were there before the bake sale started
There were 52 pies before the bake sale started as per the provided condition.
Let's break down the information given step by step:
At the beginning of the bake sale, Mary set aside 4 pies for herself. So, the number of remaining pies is the total number of pies minus 4.
Karen then bought half of the remaining pies for her birthday party. This means the number of remaining pies is now half of the previous remaining pies.
Next, 5 more pies were sold during the sale. Therefore, the number of remaining pies is further reduced by 5.
Finally, when the sale was over, there were 19 pies remaining.
Let's use variables to solve the problem. Let's say the initial number of pies before the sale started is "x."
After Mary set aside 4 pies, the number of remaining pies is (x - 4).
Karen bought half of the remaining pies, so the number of remaining pies becomes (x - 4)/2.
5 more pies were sold, reducing the number of remaining pies to (x - 4)/2 - 5.
According to the given information, (x - 4)/2 - 5 equals 19.
Now, we can solve the equation to find the value of x:
(x - 4)/2 - 5 = 19
Simplifying the equation, we have:
(x - 4)/2 = 24
(x - 4) = 48
x = 52
Therefore, there were 52 pies before the bake sale started.
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Redo of telephone math ..
In triangle FGH, GJ is an angle bisector of ∠G and perpendicular to FH.
What is the length of FH?
___ units
we know that
in the right triangle FGJ
[tex]cos(FGJ)=\frac{GJ}{FG}= \frac{GJ}{3x-8}[/tex] ----> equation A
in the right triangle GJH
[tex]cos(JGH)=\frac{GJ}{GH}= \frac{GJ}{16}[/tex] ----> equation B
m∠(FGJ)=m∠(JGH) ------> because GJ is an angle bisector of ∠G
so
equate equation A and equation B
[tex]\frac{GJ}{3x-8}=\frac{GJ}{16}\\ 3x-8=16\\3x=24 \\x=8\ units[/tex]
that means
[tex]FG=3*8-8=16\ units[/tex]
[tex]FG=GH[/tex]-------> the triangle FGH is an isosceles triangle
hence
[tex]FJ=JH\\FJ=8\ units[/tex]
[tex]JH=8\ units[/tex]
[tex]FH=FJ+JH=8+8=16\ units[/tex]
therefore
the answer is
[tex]FH=16\ units[/tex]
3/4 x 3 2/3 in simplest form
Find the vertices and foci of the hyperbola with equation (x+1)^2/16-(y+5)^2/9=1
Answer:
B on edge
Step-by-step explanation:
On the pic explanation is right on.
Given the number 456789abh, list out its byte value in little-endian order
The little-endian byte value of 456789abh is 0xab896745, listed in reverse order of its hexadecimal representation.
To represent the number 456789abh in little-endian byte order, we break it into bytes (8 bits each) and reverse their order:
456789abh = 0x456789ab
In little-endian order:
- 0xab
- 0x89
- 0x67
- 0x45
So, the little-endian byte value of 456789abh is 0xab896745.
A container holds 6 gallon of juice how many in pints
What is the slope of the line passing through the points (−1, 7) and (4, −1)?
2nd picture is the choices I have.
Use the diagram to find the value of x?
147 32 33 150
Solve the equation.
3(k−6) = 15
k = ____?
A 180 day $3 million negotiable cd has a 4.25% annual rate quote. if you buy the cd, how much will you collect in 180 days?
How many numbers are 10 units from 0 on the number line? Type your answer as a numeral.How many numbers are 10 units from 0 on the number line?
Answer:
10 number
Step-by-step explanation:
A number line is a straight horizontal line which shows integers. Center of number line is 0.
Left side of 0 is negative integers or numbers
Right side of 0 is positive integers or numbers
" 10 units from 0 on number line"
It would be either left side or right side.
So, number will be -10 or 10.
Please have a look in attachment for number line.
So, 10 number from 0 on number line either left or right side.
The force of an object (f) is equal to its mass (m) times its acceleration (a). Thus, the formula for calculating force is f = ma.
Based on this information, which of the following equations would be used to calculate acceleration?
A. a = fm B. a = f + m C. a = f − m D. a = f ÷ m
Answer:
D. [tex]a=f\div m[/tex].
Step-by-step explanation:
We are given that force of an object and we have to find the equation would be used to calculate the acceleration
Mass of object=m
Acceleration of an object= a
Force of an object=f
We are given that force of an object is equal to its mass times its acceleration.
Therefore , the formula for calculating force
f=ma
Because we are given this formula
Now , we have find the equation which is used to calculate acceleration
Then by division property of equality we have
[tex]a=f\div m[/tex]
Hence, the equation would be used to calculate acceleration [tex]a=f\div m[/tex].Therefore, option D is true.
During a 4-month-long drought, the water level in a lake changed by
−3 1/2 feet. The water level changed at the same rate each month.
What is amount the water level changed in 1 month?
Answer:
-7/8
Step-by-step explanation:
i did the 3.15 Unit Test
If 1/3 of a sum of money is $21, what is the sum of money?
Why i hundred 4 tens and 14 tens name the same number
What are the coordinates of the point?
A:(4, −2)
B:(2, 4)
C:(−4, −2)
D:(−2, 4)
A coordinate grid with a dot placed in the second quadrant. The dot is to the left of positive 4 on the y axis and above negative 2 on the x axis