Miranda is renovating her home and needs a $32,000 loan to pay for the renovations. The bank offers her a 4.8% annual compound interest rate if she pays it off in 3 to 5 years. How much more would Miranda pay for the 5 year loan than the 3 year loan?

Answers

Answer 1

Answer:

$3072

Step-by-step explanation:

The compound interest formula for the amount paid on the loan P = P₀(1 + rt/100) where P₀ = loan amount = $32,000, r = rate = 4.8 % per annum and t = time

For the 3 year loan, t = 3, So,

P = P₀(1 + rt/100)

P = $32,000(1 + 4.8 × 3/100)

P = $32,000(1 + 14.4/100)

P = $32,000(1 + 0.144)

P = $32,000(1.144)

P = $36608

For the 5 year loan, t = 5, So,

P' = P₀(1 + rt/100)

P' = $32,000(1 + 4.8 × 5/100)

P' = $32,000(1 + 24/100)

P' = $32,000(1 + 0.24)

P' = $32,000(1.24)

P' = $39680

So, the amount more Miranda pay for the 5 year loan than the 3 year loan is P' - P = $39680 - $36608 = $3072

Answer 2

In 3 years Miranda would pay $36,832.72.

In 5 years Miranda would pay $40,453.53.


Related Questions

A student stated that x = - 5 and
x= -2 are the solutions to the quadratic
equation x2 – 7x + 10 = 0 because the
equation factors to (x - 5)(x - 2) = 0.
Is the student correct or incorrect?
Explain

Answers

Answer:

Student is incorrect

Step-by-step explanation:

x^2-7x+10=0

x^2+2x-5x+10=0

x(x-2)-5(x-2)=0

(x-5)(x-2)=0

x-5=0    ,     x-2=0

x=5     ,       x=2

So the correct solutions  of given equation is 2 and 5

The factors of the equation [tex]x^2- 7x + 10 = 0[/tex] is [tex]x=2,5[/tex] so the students are incorrect.

What is the equation?

The definition of an equation is a mathematical statement that shows that two mathematical expressions are equal.

Here given equation is:-

[tex]x^2-7x+10=0\\\\x^2-2x-5x+10=0\\\\x(x-2)-5(x-2)=0\\\\(x-5)(x-2)=0\\\\x-5=0\\\\x=5\\\\x-2=0\\\\x=2[/tex]

Hence, the factors of the equation [tex]x^2- 7x + 10 = 0[/tex] is [tex]x=2,5[/tex] so the students are incorrect.

To know more about the equation

https://brainly.com/question/12788590

#SPJ2

52. Which pair of points represent a reflection
in the y-axis?
A. A'(-3, -5) and A'(3,-5)
B. B'(7, -6) and B'(7,6)
C. C'(-1, -2) and C'(1, 2)
D. D'(4, 5) and D'(-4,-5)

Answers

I think the answer is c.

Answer:A

Step-by-step explanation:

Because if you plot it (-3,-5) is in quadrant 3 and (3,-5) is in quadrant 4 which is a reflection on the y-axis

4х² – 2(x² — 3х+2)
combine like terms to write a polynomial in standard form.​

Answers

Step-by-step explanation:

[tex]4 {x}^{2} - 2( {x}^{2} - 3x + 2) \\ = 4 {x}^{2} - 2 {x}^{2} + 6x - 4 \\ = 2 {x}^{2} + 6x - 4 = \\ {x}^{2} + 3x - 2[/tex]

In ATUV, the measure of V=90°, TU = 5.4 feet, and VT = 1.6 feet. Find the measure
of ZT to the nearest degree.
U
5.4
хо
V
1.6
Answer:
Submit Ang

Answers

Answer:73

Step-by-step explanation:

Mark earns $440 per week. He receives a 20% raise. What is Mark's weekly pay rate?

Answers

New pay = original pay x ( 1 + increase rate)

New pay = 440 x( 1 + 20 %)

New pay = 440 x 1.20

New pay = $528 per week

-8x+14≥60 or -4x+50<58

Answers

Answer: x ≤ −23/4 or x> -2

Step-by-step explanation:

En una jornada cultural los grupos de 3.° de ESO van a grabar un cortometraje y un clip musical. Al principio se inscribió para el corto el triple de alumnos que para el clip. A última hora, 5 alumnos se cambian del corto al clip y ahora el número de alumnos para el clip es la mitad que para el corto. ¿Cuántos están ahora en cada actividad?

Answers

Respuesta:

20 estudiantes

Explicación paso a paso:

Dejar :

número de estudiantes que firmaron para el clip = x

Número de estudiantes que firmaron para cortometraje = 3x

En el último minuto ;

Se convierte en cortometraje; 3x - 5 y el clip se convierte en; x + 5

Por eso ; la ecuación se convierte en;

x + 5 = 1/2 (3x - 5)

x + 5 = 1,5 x - 2,5

x - 1,5x = - 2,5 - 5

- 0.5x = - 7.5

x = 7,5 / 0,5

x = 15

Por lo tanto ;

Cortometraje: 1/2 (3x - 5)

1/2 (3 (15) - 5))

1/2 (45 - 5)

1/2 (40)

= 20

Por tanto, hay 20 alumnos en cada actividad.

Ms. Hartline grades one math test every 1⁄4 hour. How many math tests does she grade in 2 hours? HELP QUICK!!

Answers

Answer:

8 maths tests

Step-by-step explanation:

Given data

We are told that in 1/4 hour that is 0.25hour (15 mins) She grades 1 math test

our aim is to find how many maths test she grade in 3 hours (120min)

Hence

in  15 mins she does 1 grading

in 120 mins she does x

cross multiply

15x= 120

divide both sides by 15

x= 120/15

x= 8 maths test

Hence in 2 hours, she can grade 8 maths tests

Find the surface area of the composite figure.

Answers

Answer The answer is c.

Step-by-step explanation:

cause i said it was

Please help!!!! I’ll mark you as brainliest!!!

Answers

Answer:

22.50%

Step-by-step explanation:

Rate of return = ( Return on stocks / price at which it is bought) x 100

Return on stocks = (price at which it is sold - price at which it is bought )

Price at which 20 stocks are bought = 20 x 20 = $400

Return = $490 - $400 = $90

($90 / $400) x 100 = 22.50%

All of these have to be estimated using the chart shown^
1- 11% of 507
2-26% of 91
3-34% of 91
4-48% of 124
5-20% of 66
6- 47% of 80
7-48% of 202
8-74% of 39
9-30% of 118
10-20% of 42
11-arnold ate breakfast at a restaurant. The total cost of his food, juice, and coffee was $6.45. If the sales tax rate is 8% and Arnold wants to leave a 20% tip. how much should he pay
12- rodneys weekly gross pay is $91. He must pay 32% of taxes and deductions. estimate rodneys weekly take home after deductions.

Answers

dont click that link its a virus

Write an expression to find the amount of money you will earn in a day if you are paid $10.25 an hour and spend $4.00 round trip to get to and from work.
A. 10.25h − 4

B. 10.25h + 4

C. 10.25h(4)

D. 10.25h / 4

Answers

$10.25h - $4.00 so i think it would be A.)

Answer:

A. 10.25h − 4

Step-by-step explanation:

Hope this helps

For which equation does it make the most sense to solve by using the zero product property? 4x2−2=15 2x2+2x−9=0 x² + 11x +30 = 0 x² + 2x = 119

Answers

Answer:

It makes more sense to apply the zero product property on x² + 11x + 30 = 0.

Step-by-step explanation:

The zero product property simply states that if ab = 0, then a = 0 or b = 0 or both are zeros.

Given 4x² – 2 = 15, 2x² + 2x – 9 = 0, x² + 11x + 30 = 0, x² + 2x = 119; let's see which of the above is easiest to apply the zero product property.

1. 4x² – 2 = 15

4x² – 2 – 15 = 0

4x² – 17 = 0

It's not so easy to express the result as a product equal to zero.

2. 2x² + 2x – 9 = 0

This is not factorisable easily and can't be expressed as a product equal to zero easily.

3. x² + 11x + 30 = 0

This is factorisable easily. On factorising we have:

x² + 5x + 6x + 30 = 0

(x + 5)(x + 6) = 0. The zero product property can be applied here easily since x = 5 or x = 6 or both.

4. x² + 2x = 119

x² + 2x – 119 = 0

This is not easily factorisable and cannot be expressed easily as a product equal to zero.

Therefore, it makes more sense to apply the zero product property on

x² + 11x + 30 = 0

Terri gets most of her exercise by walking briskly. Last year she walked an average of 4.2 miles per day with a standard deviation of 1.2 miles per day. April swims for exercise last year she swam for a mean of 40 minutes per day with a standard deviation of 8 minutes per day. For the new year, both girls have resolved to exercise more. In January Terri walked an average of 6 miles per day while April swam for an average of one hour per day. Which girl is off to a better start relation to their results from the previous year?

Answers

Terri walked in her own 93rd percentile, while April swam in her own 99th percentile. April is off to a slightly better start.

I need help with this question, please answer quickly.

Answers

Answer:

Flowers: 5

Vegetables: 25

Step-by-step explanation:

Which inequality represents the stated situation :

A bus is made to carry a maximum of 85 passengers.
p ≤ 85

p > 85

p < 85

p ≥ 85

Answers

Answer: p ≤ 85

Step-by-step explanation: The value of p cannot be greater than 85 but can be equal to or less than 85.

from birth to 6 months, babies gain 6 ounces every week. How many ounces does a baby gain in 11 weeks ?

Answers

Answer:

156oz

Step-by-step explanation:

Hope this help and have wonderful day!!!

Jack is 15 years younger than Sydney, The sum of their ages is 57. What is Sydney’s age?

Answers

Answer:

Sydney is 42 years old

Step-by-step explanation:

57 - 15 = 42

what is the slope of the line that contains the points (13,2) and (3,-2)

Answers

Answer:

Step-by-step explanation:

please like my answer and brainliest me... hshshshshs

Help!!!!!!!!!!!!!!!!!!!!!

Answers

As a decimal it is 0.45

As a fraction it is 9/20

Hope this helped :T

Substract 9/10

Multiply 9/20

Which fractions have a LCD of 84? A. 3/14 1/42 1/6 B. 2/84 1/16 1/42 C. 2/21 1/4 1/3 D. 2/3 1/6 1/7

Answers

Answer:

D.)

2/3 1/6 1/7

Step-by-step explanation:

Given the fractions :

A. 3/14 1/42 1/6 B. 2/84 1/16 1/42 C. 2/21 1/4 1/3 D. 2/3 1/6 1/7

We need ot Obtian the set of fractions whose L. C. M of denominator multiplied by the numerator gives an of 84 for all its values.

A.)

L. C. M of 14, 42 and 6 = 42

42 * 3 = 126 ( not true)

B.)

L. C. M of 84, 16, 42 = 336

Can't be true

C.)

L. C. M of 21, 4, 3 = 84

84 * 2 = 168 (not true)

D.)

L.C.M of 3, 6, 7 = 42

Answer:

d

Step-by-step explanation:

Graph the line y = 6x + 8

Answers

Answer:

The answer is in the explanation

Step-by-step explanation:

I hope this helps you

Match the statements to the correct ratios. 6 : 5 1 : 3 3 : 4 1 : 4 1 : 2 3 : 1 There are 12 boys and 8 girls in a class. If 2 more girls join the class, what is the new ratio for the number of boys to the number of girls in the class? arrowRight Joshua is 11 years old, and his dad is 33 years old. What is the ratio of Joshua's age to his dad's age? arrowRight Jemma has 24 balls. Out of the 24 balls, 12 are yellow, 4 are pink, and the rest are red. What is the ratio of the number of red balls to the number of balls that are either yellow or pink? arrowRight A box contains 84 chocolates, of which 63 are dark chocolates. The rest are milk chocolates. What is the ratio of milk chocolates to the total number of chocolates in the box? arrowRight

Answers

Answer:

Step-by-step explanation:

The one about the boys and girls are 3:1

The one about the balls no h0m0 is 1:4

The one about the chocolates is 1:3

The one about the Joshua and his dad is 3:4

If you be so kind mark me as brainliest

Answer:

A box contains 84 chocolates - 1 : 3

Jemma has 24 balls - 1 : 4

There are 12 boys - 3 : 1

Joshua is 11 years old - 3 : 4

Step-by-step explanation:

This is the correct answer for edmentum

Sarah was thinking of a number. Sarah divides by 7, then adds 9 to get an answer of 3. What was the original number?

Answers

Answer:

-42

Step-by-step explanation:

x/7 = y

y + 9 = 3

3 - 9 = y

y = -6

-6 * 7 = x

x = -42

Answer:

-42

Step-by-step explanation:

Do it backwards

Start with 3

SUBTRACT 9 to get -6

MULTIPLY by 7 to get -42.

Check:

Start: -42

Divide by 7: -6

Add 9: 3

Ding Ding!

Please help, points are (-6, -2) and (-3, -7)

Answers

Answer:

-1/3

Step-by-step explanation:

-6+3=-3

2 and -7 is 9

Answer:

the correct answer is B

Step-by-step explanation:

go it right!!!

Please help, finding radius, giving brainliest pls asap

Answers

Answer:

line segment EF EH EG EI

Step-by-step explanation:

I want to know the AWNSER to 71.77x6.1

Answers

The exact answer is: 437.797

When a normal six-sided die is rolled, what is the probability of getting a 7?

A. 0
B. 1/2
C. 6/7
D. 7/6

[No Links I need an answer and explanation]

Answers

Answer:

0

Step-by-step explanation:

probably 0, because a normal dice has six sides and the greatest number is 6, therefore you cannot roll a 7

As an estimation we are told €4 is $5. What is the conversation rate from euros to dollars? Give your answer rounded to 2 decimal places?

Answers

If 5$ is 4€ you need to multiply by 0,80

Christopher's backyard is in the shape of a trapezoid. The bases of his backyard are 30 and 40 feet long. The height is 8 feet long. What is the area of Christopher's backyard.

Answers

the formula for area of a trapezoid is 1/2h•(b+b)

so let's plug in the numbers

1/2h•(70)=525

so divide both sides by 70

1/2h=7.5

now divide both sides by 0.5

h=15

so the area is 150.

--HEART IF IT HELPED--

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