Terry and Jim have two car loans totaling $ 26,004.
One loan has an annual percentage rate (APR) of 3.1 % and the other has an APR of 7%.
If the total interest they paid after one year is $1,481.25, what is the amount owed on each car?
(1 = PRT. Note t = 1 year).
Answer needed right away!! With explanation

Answers

Answer 1

The annual percentage rate is the interest rate for payment for the car

loan.

The mount owed on the car with an APR of 3.1% is approximately $8,693.08.

The mount owed on the car with an APR of 7% is approximately $17,310.92.

The given parameters are;

The amount of loan Terry and Jim have = $26,004

The annual percentage rate (APR) on one loan = 3.1 %

The annual percentage rate (APR) on the other loan = 7 %

Total interest paid after one year = $1,481.25

Required:

The amount owed on each car

Solution:

Let X represent the loan, with 3.1% APR, we have;

The other loan with 7% APR = 26,004 - X

Therefore;

0.031·X + 0.07·(26,004 - X) = 1,481.25

0.031·X + 1,820.28 - 0.07·X = 1,481.25

1,820.28 - 1,481.25 = 0.07·X - 0.031·X = 0.039·X

339.03 = 0.039·X

[tex]X = \dfrac{339.03}{0.039} \approx 8693.08[/tex]

Therefore;

The amount owed on the car with an APR of 3.1%, X ≈ $8,693.08

Therefore;

The amount owed on the car with an APR of 7% ≈ 26,004 - 8693.08 =

17310.92.

The amount owed on the car with an APR of 7% ≈ $17,310.92

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https://brainly.com/question/15400760


Related Questions

what is x over 5 = -3 find x value

Answers

5*-3=-15

x=-15

hope this helps

Answer:

x = -15

Step-by-step explanation:

[tex]\frac{x}{5}=-3~(Given)\\\\5(\frac{x}{5})=5(-3)~(Multiply~5~on~both~sides)\\\\x=-15~(Simplify)[/tex]

❗❗CORRECT ANSWER+EXPLANATION=BRAINLIEST❗❗
Simplify: (question in the pic)​​

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The simplified form of the function is [tex]f(x) = \frac{x+3}{x}[/tex]

Functions and equation

Given the following function as shown:

[tex]f(x)=\frac{x^2-9}{x^2-3x}[/tex]

This can be factorized as:

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

Cancel out the common terms:

[tex]f(x) = \frac{x+3}{x}[/tex]

Hence the simplified form of the function is [tex]f(x) = \frac{x+3}{x}[/tex]\

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Hi Phoenix! :)

I'm much late lol.

Answer:

[tex]\boxed{ \cfrac{x + 3}{x}} [/tex]

Step-by-step explanation:

Given:

[tex] \cfrac{x {}^{2} - 9}{x {}^{2} - 3x } [/tex]

Solution:

[Here the best option is to factorise the expression.]

Rewrite the numerator of the expression as

[tex] \cfrac{x {}^{2} - 3 {}^{2} }{x {}^{2} - 3x} [/tex]

It can be seen that the numerator is like an algebraic identity:

> a² - b² = (a+b)(a-b)

ATP, numerator : a = x² and b = 3²

[tex] \cfrac{(x + 3)(x - 3)}{ {x}^{2} - 3x} [/tex]

Now in the denominator take x common:

[tex] \cfrac{(x + 3)(x - 3)}{x(x - 3)} [/tex]

(x-3) in the denominator and (x-3) in the numerator gets canceled.

[tex] \cfrac{(x + 3) \cancel{(x - 3)}}{x \cancel{(x - 3)}} [/tex][tex] \boxed{\cfrac{x + 3}{x} }[/tex]

Welp,Done, that's it! :D

Please take a look at the picture

Answers

Answer:

D

Step-by-step explanation:

-6-(-5)=-6+5

         =-1

Answer:

D) The number that is 5 to the right of -6 on the number line

Hope this helps :)

simplify √6+3√6 please and thank you

Answers

Answer:

4√6

Step-by-step explanation:

√6 is a common factor on either side of the plus sign.

Therefore you can use the distributive property to get it out as a common factor. If you do not know what the distributive property is, then you can just say that √6 is a common factor.

√6(1 + 3)            Combine the like terms in the brackets.

√6(4)   or

4√6

Answer:

Exact Form: 4√6

Decimal Form: 9.79795897...

Step-by-step explanation:

Please vote brainliest!

Find the surface area of the following cylinder. Round your answer to the nearest square centimeter.

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Answer:

V=2(pi)(r)(h)+2(pi)(r^2)

v=2(pi)(10/2)(0.8)+2(pi)(10/2)^2

TSA=159.512

TSA=160

Step-by-step explanation:

what is the greatest number of obtuse angles that a right triangle can contain

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Step-by-step explanation:

i think this is the answer

Answer:

Zero

Step-by-step explanation:

Obtuse angle is the angle greater than 90°.

A right triangle has one 90° and the sum of remaining angles is 90°.

It means a right triangle can't have an obtuse angle.

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Answer:

First is death valley it goes on the bottom, next is New Orleans its after death valley, Next is Washington it goes in the middle, next is Dublin its after Washington, Lastly is Paris it goes on the top

Step-by-step explanation:

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Which of the following equations represents the greatest value of x?

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Equation 2
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Equation 3
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Equation 4
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Answers

Answer:

Equation 2 represents the greatest value of x!

Step-by-step explanation:

Let's solve each equation for x.

Equation 1; x = 4.1 (about)

Equation 2: x = 5 (about)

Equation 3: x = 4 (exact)

Equation 4: x = 3 (exact)

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Should the United States return to a gold standard? Why?

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Answer:

No

Step-by-step explanation:

If the U.S goes in a gold standard it can put the whole state in a crises

There were 5 times the number of students in ninth grade at the soccer game. How many students attended the soccer​ game? It dosent tell me the previous number and it only gave me one.

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Answer

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Step-by-step explanation:

5 x 5 = 25 I think

Answer:

We’ll you can not physically or mentally get a answer

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In the penny game exercise, why do you think it takes longer for one person to flip five batches of two pennies then one batch of ten pennies

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Find ML of the trapezoid

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Answer:

Formula for Volume of a Trapezoidal Prism. If the prism length is L,trapezoid base width B, trapezoid top width A, and trapezoid height H, then the volume of the prism is given by the four-variable formula: V(L, B, A, H) = LH(A + B)/2. In other words, multiply together the length, height, and average of A and B.Step-by-step explanation:

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I WILL GIVE BRAINLIEST



How is the product of 2 and 5 shown on a number line?
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101235
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5
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Answers

Answer:

4th option

Step-by-step explanation:

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Barack is saving up his money to buy a television that costs $395.50. Right now he has $85.00 and can save $29.00 each week. How many weeks will it take for Barack to have enough money to buy the television?

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Answer:

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Step-by-step explanation:

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Answer:

The last one is incorrect

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Answers

if it is asking for point slope form the answer is : y-34=-7(x+4)

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Question 2
Which statement best explains
why the sum of the areas of the
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The combined area of the four triangles is equal to the area of the large white
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In each triangle, the length of side a plus the length of side b equals the length
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Answers

Answer:

the third option

Step-by-step explanation:

that is actually the proof for Pythagoras :

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Answer:

I dont know

Step-by-step explanation:

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BEST ANSWER GETS BRAINLIEST!!!!

A store is having a sale on trail mix and jelly beans. For 3 pounds of trail mix and 8 pounds of jelly beans, the total cost is $31. For 5 pounds of trail mix and pounds of 2 jelly beans, the total cost is 12. Find the cost for each pound of trail mix and each pound of jelly beans.

Answers

Answer:

3x + 8y = 31

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Let's solve your system by elimination.

Multiply the second equation by -4, then add the equations together.

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−4 (5x + 2y = 12)

Becomes:

3x + 8y = 31

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3x + 8y = 31

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Write 2 over 5 as a percent.

Answers

Answer:

40%

Step-by-step explanation:

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Evaluate. (2a−1/3)÷b/15 when a=−4/5 and b=−2.25 Enter your answer as a simplified mixed number in the box.

Answers

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Answers

Answer:

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Step-by-step explanation:

Let t and c represent the price of a table and a chair, respectively. The given relations are ...

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Covert fractions to percents
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Answers

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Step-by-step explanation:

Convert the fraction into a percentage.

[tex]\frac{3}{8}[/tex] = [tex]\frac{x}{100}[/tex]

Solve for x:

[tex]\frac{3}{8}[/tex] = [tex]\frac{x}{100}[/tex]

3 × 100 = 300300 ÷ 8 = 37.5

x = [tex]\frac{37.5}{100}[/tex] = 37.5%

Answer:

Now we can see that our fraction is 37.5/100, which means that 3/8 as a percentage is 37.5%.

Step-by-step explanation:

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Answer:

y = 2x + 3

Step-by-step explanation:

In the slope-intercept form of the equation of a line,

y = mx + b,

m = slope, and b = y-intercept.

Let's look at Adriana's equation and understand the parts:

y = 2x + 4

y = mx + b

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Now let's look at the description of Henry's equation.

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y = mx + b

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Answer: y = 2x + 3

Answer:

y=2x+3

Step-by-step explanation:

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2/3 cup of juice for every 1/3 cup of oj. How many cups of juice is used for 1 cup of OJ

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X = 28. Hope that helps

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Answer: second one is the correct answer

Step-by-step explanation:

Q2). Let A={1,2,3,4} B={a,b,c} which of the following are relation from B to A?
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Step-by-step explanation:

Given sets are :

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(i)

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