Mathematics College

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.

Answers

Answer 1

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 monthly

Ricky 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 monthly

interest 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 2

Answer:

Step-by-step explanation:

Related Questions

What is 129,543 rounded to the nearest ten thousand

Answers

129,543 rounded to the nearest ten thousand is 130,000

hope this helps

129,543 rounded to the nearest ten thousand is 130,000. Hope this helps! Can u plz mark me as brainliest? I really need it !

Caroline bought 20 shares of stock at 10 ½, and after 10 months the value of the stocks was 11 ¼. If Caroline were to sell all her shares of this stock, how much profit would she make? A. $210 B. $10 C. $15 D. $225

Answers

20 shares at 10 1/2 (or 10.5) = 20 * 10.5 = 210
20 shares at 11 1/4 (or 11.25) = 20 * 11.25 = 225

so the profit made would be : 225 - 210 = $ 15 <==

A car is driving at the speed of 58 km/h.How much time will it take to drive for distance 32 miles?

Answers

53 Minutes and 16 seconds

a woman walks in and steals 100 from a register. 5 minutes later uses the same 100 to buy merchandise from that same store and buys 70 worth of merchandise with that same 100. he gives her 30 in change. how much did the store lose

Answers

she took 100, the store has - 100
she went back and bough
70 bucks in stuff, the store has - 70

yes, she took the $100 bill and gave it, got back $30, that means she only kept $30 from the original bill.

the store however, lost the original $100 bill plus the $70 in merchandise, so they have -$170.

Jenny drove 1,255 miles last week. She drove 187 miles on Monday. On Tuesday, she drove 53 more miles than on Monday, on Wednesday she dove 26 more miles than on Tuesday. How many more miles did Jenny drove on Monday and tuesday together than on Wednesday and Thursday together?

Answers

The answer should be 401

A section of a roller coaster track forms a parallelogram ABCD. If m∠ABC = 72°, what is m∠DAB? A) 72° B) 108° C) 144° D) 216°

Answers

check the picture below.

Answer: Option 'B' is correct.

Step-by-step explanation:

Since we have given that

A section of a roller coaster track forms a parallelogram ABCD.

If m∠ABC = 72°

We need to find the m∠DAB,

Since ABCD is a parallelogram .

So, "Sum of interior angles on the same side is supplementary":

[tex]m\angle ABC+m\angle DAB=180\textdegree\\\\72\textdegree+m\angle DAB=180\textdegree\\\\m\angle DAB=180\textdegree-72\textdegree\\\\m\angle DAB=108\textdegree[/tex]

Hence, Option 'B' is correct.

Michael sold his house for $548,900, which was 160% of the amount he paid for it. Calculate the amount he paid for the property.

Answers

That would be 548,900 / 1.6 = $343,062.50

there are 3/4 of a pizza left over from last night how many 1/8 portions are there

Answers

3/4 of the pizza is left

3/4 = 6/8

There are 6 "1/8" portions left

hope this helps

How many terms are in the arithmetic sequence 7, 0, −7, . . . , −175?

Answers

so hmmm 7, 0, -7.... what the dickens is going on? hmmm is really dropping each time by 7, so, 7-7, 0, and 0-7, -7 and so on.

so, the "common difference" is then -7, and our first term is 7, now, who's -175? let's check.

[tex]\bf a_n=a_1+(n-1)d\qquad \begin{cases} n=n^{th}\ term\\ a_1=\textit{first term's value}\\ d=\textit{common difference}\\ ----------\\ d=-7\\ a_1=7\\ a_n=-175 \end{cases} \\\\\\ -175=7+(n-1)(-7)\implies -175=7+7-7n \\\\\\ 7n=14+175\implies 7n=189\implies n=\cfrac{189}{7}\implies n=\stackrel{terms}{27}[/tex]

Complete each statement regarding an angle θ and its reference angle theta hat using radian measure. (Assume 0 ≤ θ < 2π. Give your answers in terms of θ.) (a) If θ is in QI, then theta hat = . (b) If θ is in QII, then theta hat = . (c) If θ is in QIII, then theta hat = . (d) If θ is in QIV, then theta hat = .

Answers

The reference angle is simply the acute angle between the terminal side and the x-axis

The terminal angles in the four quadrants are

[tex]\bar \theta = \theta[/tex].[tex]\bar \theta = \pi - \theta[/tex].[tex]\bar \theta = \theta - \pi[/tex].[tex]\bar \theta = 2\pi - \theta[/tex]

The given parameters are:

[tex]\theta \to[/tex] reference angle

[tex]\bar \theta \to[/tex] terminal angle

(a) If the reference angle is in the first quadrant

In the first quadrant, the x-axis is at [tex]0\ rad[/tex]

So, the terminal angle is:

[tex]\bar \theta = \theta - 0[/tex]

[tex]\bar \theta = \theta[/tex]

(b) If the reference angle is in the second quadrant

In the second quadrant, the x-axis is at [tex]\pi \ rad[/tex],

While the reference angle is between [tex]\frac{\pi}{2}[/tex] and [tex]\pi \ rad[/tex]

It means that, we have to subtract the reference angle from the x-axis

So, the terminal angle is:

[tex]\bar \theta = \pi - \theta[/tex]

Here, the x-axis is still at [tex]\pi \ rad[/tex],

But the reference angle is between [tex]\pi \ rad[/tex] and [tex]\frac{3}{2}\pi[/tex]

It means that, we have to subtract the x-axis from the reference angle.

So, the terminal angle is:

[tex]\bar \theta = \theta - \pi[/tex]

(d) If the reference angle is in the fourth quadrant

Here, the x-axis is at [tex]2\pi \ rad[/tex]

And the reference angle is between [tex]\frac{3}{2}\pi[/tex] and [tex]2\pi \ rad[/tex]

It means that, we have to subtract the reference angle from the x-axis.

So, the terminal angle is:

[tex]\bar \theta = 2\pi - \theta[/tex]

See attachment for illustration of terminal angles

Answers

Absolute value of x=-45 is x=45 Absolute value just means that you make everything positive.

How much greater is the area of a square with a side length of 9 inches than the area of a circle with a radius of 3 inches?

Answers

The area of the square is 81 sq in, and the area of the circule is (3.14)(3 in)^2, or approx 3.14(9) sq in, or approx 28.27 sq in.

Subtract: 81 sq in - 28.27 sq in = approx. 52.73 sq in.

The difference is 52.73 sq in; the square is larger, the circle smaller.

A driveway is 40 yards long. About how many meters long is it? Round to the nearest hundredth

Answers

The driveway is 36.576 meters long.

Algebra help me please ILL MARK BRAINIEST

Answers

The solution is optio D.

0     4
- 6     1
3    -4

Rember row times columns.

=>
a11 = 4*0 + 0*(-3) = 0

a12 = 4*1 + 0*1 = 4 + 0 = 4

a21 = -1*0 + 2*(-3) = 0 - 6 = -6

a22 = -1*1 + 2*1 = -1 + 2 = 1

a31 = -3*0 + (-1)*(-3) = 0 + 3 = 3

a32 = -3*1 + (-1)*1 = -3 - 1 = -4

"how many terms are there in the algebraic expression""

Answers

so in this quistoon that you are asking there is 6 in here because you didnt show the problem so i cant help you out

A scuba diver swimming at the Deppe shown, and then swim 0.5 feet toward the surface every three seconds. What is the location of the scuba diver, relative to the surface, after 15 seconds?

Answers

For every 3 seconds, the scuba diver dives 0.5 feet
after 15 seconds = your answer

3 x 5 = 15
0.5 x 5 = your answer

your answer = 2.5

2.5 is your answer

hope this helps

family drinks 1 3/4 gallons of milk every 4 1/2 days what is the unit rate of milk per day

Answers

[tex]\bf \cfrac{milk}{day}\qquad \cfrac{1\frac{3}{4}}{4\frac{1}{2}}\implies \cfrac{\frac{1\cdot 4+3}{4}}{\frac{4\cdot 2+1}2}\implies \cfrac{\quad \frac{7}{4}\quad }{\frac{9}{2}}\implies \cfrac{7}{\underline{4}}\cdot \cfrac{\underline{2}}{9}\implies \cfrac{7}{2}\cdot \cfrac{1}{9}\implies \cfrac{7}{18}[/tex]

which gives us a quotient of about 0.39 gallons of milk for one day.

What percent is 6 out of 30? 2% 6% 20% 30%

Answers

6 is 20 percent of 30

The answer is 20%. Hope I helped

anyone help me please!
A stereo listed for $350 is on sale for 20% off the list price. The sales tax is 6%. What total price does a customer pay for the stereo if she/he buys it on sale?
1 $324.00
2 $259.00
3 $262.20
4 $296.80
5 $301.00

Answers

The answer would be 296.80.Hope this helps!

20% subtracted from $350 leaves you with $280

then you need add 6% onto the price

Im not sure if youre supposed to calculate 6% of the original price or the price with 20% off

tax of normal price + discounted price= $301
tax of discounted price + discounted price= $296.60

Your answer should be E since $301 is an answer choice

Reina and Sam are multiplying (84)5 (73)9. Reina's Work Sam's Work (84)5 (73)9 = 84 + 573 + 9 = 89712 (84)5 (73)9 = 84⋅573⋅9 = 820727 Is either of them correct? Explain your reasoning.

Answers

None of this above 84⋅573⋅9 84*5*73*9 ( )= multiplication all of them should multiply

F=J+Jrt solve following formula for t

Answers

F=j+jrt
F-j=jrt
t=(F-j)/jr

Final answer:

To solve the formula F=J+Jrt for 't', first, subtract 'J' from both sides to get F-J=Jrt. Then, divide both sides by 'Jr', for the final equation for 't' = (F-J)/Jr.

Explanation:

This physics-related mathematics question is asking you to solve the given formula F=J+Jrt for 't'. To isolate 't', we first want to eliminate 'J' from the right side. We do this by subtracting 'J' from both sides of the equation. This gives us F-J=Jrt.

Then, we divide both sides by 'Jr'. When we do this, we are left with t=(F-J)/Jr as the rearranged formula with 't' as the subject. This results in 't' being isolated in the equation, which answers the student's question.

Learn more about Rearranging Equations

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Outlet malls sell goods _____

Answers

at a discounted price

1. at a discount

2. add all the items together at their sales cost then add salves tax

3. $26.75

4. $66.23

Two right triangles are congruent. Find the value of x.
right triangle with angle of 33 degrees, right triangle with angle of 9 x minus 15 degrees
Select one:
a. 5
b. 6
c. 8
d. 12

Answers

Given that the two right triangles are congruent, there are two possibilities.

9x - 15 is equal to the angle 33° or 9x - 15 is equal to the other angle of the first triangle.

Let's probe with the first option:

9x - 15 = 33 => 9x = 33 + 15 = 48

=> x = 48 / 9 = 5,33, which is no in the list of options.

Now, let's probe the second option.

The other angle of the first right triangle is 90° - 33° = 57°

Then, 9x - 15 = 57

=> 9x = 57 + 15 = 72

=> x = 72 / 9 = 8

Which is the option c. 8.

So, I am sure that if you have a figure it will be compatible with that answer, else yet the procedure to find the answer is what I have used here.

Answer: option c. 8

A person who is 6ft tall walks away from a streetlight. When the person is 15 feet away from the light, the tip of his shadow is 5 feet in front of him. Find the height of the streetlight

Answers

We essentially have a ratio here:
[tex]\frac{shadow}{actual}[/tex]

Since we know the ratio is going to stay constant at [tex]\frac{5}{6}[/tex], we can use this to find the height of the lamp along with the information that the total distance from the lamp to the tip of his shadow is 20:
[tex]\frac{5}{6}=\frac{20}{h}[/tex]
[tex]5h=120[/tex]
[tex]h=24[/tex]

how many times can 36 go into 300

Answers

8.333333 so lets just say 8

36 can go into 300 around 8 times. 8.3 to be more accurate.

45+5/6x=50
need to find x and math for x

Answers

45 + 5/6x = 50

5/6x = 50 - 45

5/6x = 5

5x = 5 * 6

5x = 30

x = 6

hope that helps, God bless!

The solution of expression is, x = 6

We have to give that,

An expression to simplify as,

⇒ 45 + 5/6x = 50

Now, Simplify the expression by combining like terms,

⇒ 45 + 5/6x = 50

Subtract 45 on both sides,

⇒ 45 + 5/6x - 45 = 50 - 45

⇒ 5/6x = 5

Multiply by 6 on both sides,

⇒ 5x = 5 × 6

⇒ 5x = 30

Divide by 5 on both sides,

⇒ x = 30/5

⇒ x = 6

So, The solution is, x = 6

To learn more about the mathematical expression visit:

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y=-2/5x+4 in standard form

Answers

1、 -10
2、 4
4、 Y=-2/5x+4

[tex] \frac{dx}{dt} = \frac{t^{2}+3tx+ x^{2} }{ t^{2} } [/tex]

Answers

[tex]\dfrac{\mathrm dx}{\mathrm dt}=\dfrac{t^2+3tx+x^2}{t^2}[/tex]
[tex]\dfrac{\mathrm dx}{\mathrm dt}=1+\dfrac{3x}t+\dfrac{x^2}{t^2}[/tex]

Let [tex]x(t)=ty(t)[/tex], so that [tex]\dfrac{\mathrm dx}{\mathrm dt}=t\dfrac{\mathrm dy}{\mathrm dt}+y[/tex].

[tex]t\dfrac{\mathrm dy}{\mathrm dt}+y=1+3y+y^2[/tex]
[tex]t\dfrac{\mathrm dy}{\mathrm dt}=1+2y+y^2=(1+y)^2[/tex]
[tex]\dfrac{\mathrm dy}{(1+y)^2}=\dfrac{\mathrm dt}t[/tex]
[tex]\implies-\dfrac1{1+y}=\ln|t|+C[/tex]
[tex]\implies y+1=-\dfrac1{\ln|t|+C}[/tex]
[tex]\implies yt=x=-t-\dfrac t{\ln|t|+C}[/tex]

a large bag of cashews weighs 8 1/3 pounds one serving is 1/3 pound how many servings are in the bag

Answers

A large bag of cashews weighs is 8(1/3) pounds = which is 25/3 in improper fraction form
one serving bag is 1/3
now, how many servings are in the bag?
=> 25/3 ÷ 1/3
=> 25/3 X 3/1 (changing division into multiplication form)
=> 25, bag are in serving .

Find the ratio and simplify. In this triangle, find the ratio of the shortest side to the longest. A triangle has three sides with lengths 15.2, 5.6, 14.1

Answers

well, the shortest will be 14.1 clearly, and the longest of all three is 15.2.

let's check the ratio from shortest to longest.

[tex]\bf 14.1\implies \cfrac{141}{10}\qquad \qquad\qquad 15.2\implies \cfrac{152}{10} \\\\\\ \cfrac{shortest}{longest}\qquad 14.1:15.2\qquad \cfrac{14.1}{15.2}\implies \cfrac{\quad \frac{141}{10}\quad }{\frac{152}{10}}\implies \cfrac{141}{10}\cdot \cfrac{10}{152} \\\\\\ \cfrac{141}{152}[/tex]

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