Jack took out a 6-year loan for $25,000 to purchase a boat at a 4.5% interest rate. If the interest is compounded monthly, what will he have paid total over the course of the loan?

Answers

Answer 1

Answer: $32,732.58

Step-by-step explanation:

To calculate the total loan payment over the course of the loan period, use the future value formula:

= Loan amount * (1 + rate) ^ number of years

As this loan is compounded monthly, you need to convert certain terms to monthly figures:

Number of periods = 6 * 12 months = 72 months

Interest = 4.5 / 12 = 0.375%

Total payment:

= 25,000 * ( 1 + 0.375%)⁷²

= $32,732.58

Answer 2

He will have to pay $34,236.31 over the course of the loan.

Using the compound interest formula expressed as:

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

P is the principal = $25000

r is the rate = 4.5% = 0.045

t is the time in years = 6 years

n is the compounding amount = (12)monthly

Substitute into the formula:

[tex]A =25000(1+0.045/12)^{12(7)}\\A=25000(1.36945)\\A = \$34,236.31[/tex]

Hence he will have to pay $34,236.31 over the course of the loan

Learn more on compound interest here: https://brainly.com/question/24274034


Related Questions

Find measure angle GJK (5x + 8) (7x - 16)

Answers

Hi there!

[tex]\large\boxed{22^o}[/tex]

Find m∠GJK by finding the value of its complementary angle and subtracting from 90°.

Using the Alternate Interior Angle theorem:

m∠HJI = m∠JHG, so:

7x - 16 = 5x + 8

Solve for x:

2x - 16 = 8

2x = 24

x = 12

Substitute in this value of x to solve for m∠HJI:

7(12) - 16 = 84 - 16 = 68°

Thus:

m∠GJH = 90 - 68° = 22°

what is the chancr of rolling a 7 or a 9 on two dice .

Answers

Answer:

5/18 0r 27.77%

Step-by-step explanation:

I am assuming both are six-sided and have numbers 1-6 on each of the six sides. There are 36 possible roll combinations. Of the 36, four result in 9 and six result in 7. Therefore there is a 10/36 chance of rolling a 7 or a 9. That can be simplified however by dividing by two on both numbers. That equals 5/18. As a percent you would divide 5 by 18 and get 0.2777. After that you multiply 0.2777 by 100 to get 27.77%.

What angle is this?

-Complementary
-Supplementary
-Vertical
-Adjacent

Answers

Answer:

Adjacent

Step-by-step explanation:

Since angle a and b are right next to each other, they would be adjacent.

Will mark brainliest ❤️

Answers

Answer:

The answer is A

Step-by-step explanation:

Well, there is an actual way of doing it but I forgot how to do it, my calculator got A so yeah, hope that helps

need help with finding measurement for the cylinder

Answers

Answer:

3

Step-by-step explanation:

[tex]\pi V = \pi r^{2} h\\75\pi = \pi 5^{2} h\\75\pi =25\pi *h\\h = 3[/tex]

How many terms are in the following expression:

45x + 13x − 19 + 16/3(3)x − 21.5

Answers

Answer:

45+13−19+163(3)⋅\−21.5   They also have a pdf if you need it

unit 6-10 answer key.pdf

Step-by-step explanation:

1
2.- of a number is 8, what is the number?
a ,
4​

Answers

Answer:

the answer for this question is 4

Which graph is the solution to x < 6

Answers

Answer:

C.

Step-by-step explanation:

hope this helps

Answer:

C

Step-by-step explanation:

C shows it being anything below six, and if x is less than six this is the correct answer.

A square garden has an area of 400 square feet. Each side of the garden is (x-10) feet in length.

Write an equation that represents the AREA of the garden

Find the value of x using the square root method

What is the length of the side of the garden?

Answers

Answer:

400 = (x - 10)²

x² -20x -300 = 0

x = 30 and x = -10

Length side of the garden = 20 feet

Step-by-step explanation:

Given:

Area of square garden = 400 square feet

Length side of the garden = (x - 10) feet

Find:

Length side of the garden

Computation:

Area of square = side²

Area of square garden = Length side of the garden²

400 = (x - 10)²

400 = x² -20x + 100

x² -20x -300 = 0

x² -30x  + 10x -300 = 0

x(x - 30) + 10(x - 30) = 0

(x - 30)(x + 10) = 0

So,

x = 30 and x = -10

Use x = 30 positive number

Length side of the garden = (x - 10) feet

Length side of the garden = (30 - 10) feet

Length side of the garden = 20 feet

Find the theoretical probability that the spinner below lands on the letter B. Write your answer as a fraction in simplest form. Use "/" for fractions with no s

Answers

Answer:

The theoretical probability that the spinner below lands on the letter B is 1/2

Step-by-step explanation:

Given

[tex]S =\{A,B,B,B,C,C\}[/tex]

[tex]n(S) = 6[/tex]

See attachment for spinner

Required

P(B)

From the attached spinner, we have:

[tex]n(B) = 3[/tex] --- occurrence of B

So:

[tex]P(B) = \frac{n(B)}{n(S)}[/tex]

[tex]P(B) = \frac{3}{6}[/tex]

[tex]P(B) = 1/2[/tex]

Help, please
The function f(x) = 2x − 1 is transformed to function g through a horizontal shift of 7 units left. What is the equation of function g?
Replace the values of h and k in the equation.

g(x)=2x+h+k

Answers

Answer:

g(x)=2x-1+7 or g(x)=2x+6

Step-by-step explanation:

Its the opposite when your subtracting and adding

Write an equation to fit the following situation. On Monday, 340 students
went on a trip to the zoo. All 7 buses were filled equally and 4 students had
to travel in cars.
use your equation from above to solve how many students were on each bus

will mark brainliest

Answers

Answer:

48

Step-by-step explanation:

first you need to subtract the total number of students 340, by 4:00 because four of them had to travel in cars so they weren't on the bus. since there are seven buses and now 336 students going to travel on buses each buses must be split equally so you need to divide 336 by 7 giving you 48

Andrew is thinking of a number. 30 more than 10 times a number is 90. Find Andrew's number.

Answers

Answer:

Step-by-step explanation:

90 = 10x+30

60 = 10x

6 = x

Find the value of p when 3^p=1/9

Answers

Answer:

[tex]p = -2[/tex]

Step-by-step explanation:

Create equivalent expressions in the equation that all have equal bases, then solve for  p .

Find the a value, b value, and c value.​

Answers

Answer:

aX²+bX+c=0

a=1

b=-8

c=12

A=1
B=-8
C=12
I hope this helps!

You spin a spinner and flip a coin. Find the probability of the events.
15. Spinning a 4 and flipping heads
16. Spinning an even number and flipping tails
17. Spinning a multiple of 3 and flipping heads
18. Spinning white and not flipping heads

Answers

The answer is 16. Spinning an even number and flipping tails

A.

B.

C.

D.

Choose the one that would not fall on this line

Answers

The answer is B (2, 1)

Explanation:

The y-coordinate of the second point is not twice of its x-coordinate, hence it does not fall on the line.

There are 3 liters of orange juice at a school party. 10 students want to drink all of the orange juice, and they all want to get exactly the same amount. How much orange juice can each get?

Answers

Step-by-step explanation:

would you still like me to help you with this question

Answer:

0.3

Step-by-step explanation:

Y
х
B В
The transformation below is applied
to AXYZ
(XY) → (0.5x, 0.5y)
What are the coordinates of point X"?
0 62.0.5)
(0.5,-2)
(2.0.5)
0 1.2, 0.5)

Answers

Answer:

(-2, 0.5) first

Step-by-step explanation:

X (-4, 1) → X' (-4*0.5, 1*0.5)

X'(-2, .5)

PLEASE HELP FOR BRAINLIST

Answers

The Answer Is B Because Count The Number Of Hours By The Amount Of Money He Is Being Paid

HELP PLEASE ASAP PLESDE HELP

Answers

Answer:

16^¼=2

Step-by-step explanation:

16^¼=⁴√16

so, 2⁴=16

so it's 2,

verification

2×2×2×2=16

Answer:

2

Step-by-step explanation:

zuma took a loan of 630 000 from the bank. he will repay the loan over 48 months at 9.5% per annum simple interest. how much interest will zuma pay on the loan​

Answers

Answer:

Interest amount = 239400

Step-by-step explanation:

Below is the calculation of interest amount:

Given the loan amount or present value = 630000

Time period  = 48 months or 4 years

Interest rate give = 9.5%

Total amount = P ( 1 + rt)

P = 630000

r = 9.5%

t = 4 years

Total amount = 630000 ( 1 + 9.5% x 4)

Total amount = 869,400

Interest amount = 869400 - 630000

Interest amount = 239400

Please answer this math question please and fast

Answers

Answer:

its do9ne

Step-by-step explanation:

Answer:

its the one next to the yellow one. hope it helps.

Step-by-step explanation:

Melissa wants to expand her rectangular sandbox that measures 4 feet by 8 feet. Two sides of the sandbox are against a fence. She wants to increase the length and the width of the sandbox by the same amount on the two sides that are not against the fence. The total area of the new sandbox will be 60 square feet. What is the amount of increase?

Answers

Answer:

The amount with which she should increase the length and the with of the sandbox is 2 feet each

Step-by-step explanation:

The dimensions of Melissa's rectangular box are;

Width of the box = 4 feet

Length of the box = 8 feet

The total area of the new sandbox, A = 60 square feet

Let 'x' represent the amount by which she increases the width and lengths of sides that not against the fence, we have;

The area of the new sandbox, A = The new length × The new width

A = 60 ft.²

The new length = 8 + x

The new width = 4 + x

∴ A = 60 = (8 + x) × (4 + x) = x² + 12·x + 32

60 = x² + 12·x + 32

60 - 60 = 0 = x² + 12·x + 32 - 60

∴ x² + 12·x - 28 = 0

(x + 14)·(x - 2) = 0

x = -14 or x = 2

Therefore, the amount she can increase the width and lengths of sides that not against the fence to have make a new sandbox with an area of 60 ft.² is, x = 2 feet

The amount of increase of the length and the width of the sandbox, x = 2 feet each.

What is the surface area of the cylinder with a height of 3 m and radius of 4 m? Round your answer to the nearest thousandth.

Answers

Answer:

The surface area of the cylinder is of 131.947 square meters.

Step-by-step explanation:

Surface area of a cylinder:

The surface area of a cylinder of height h and radius r is given by the following equation:

[tex]S_a = 2\pi r(h+r)[/tex]

What is the surface area of the cylinder with a height of 3 m and radius of 4 m?

[tex]h = 3, r = 4[/tex].

So

[tex]S_a = 2\pi r(h+r) = 2\pi(3)(3+4) = 42\pi = 131.947[/tex]

Height and radius are in meters, so the surface area will be in square meters.

The surface area of the cylinder is of 131.947 square meters.

The perimeter, P, of a rectangle is equal to twice the sum of the length and width of the rectangle. Determine the width of a rectangle with a perimeter of 34 inches and a length of 5 inches. In your final answer, include all necessary calculations.

Answers

Answer:

12 inches

Step-by-step explanation:

5 + 5 = 10

34 - 10 = 24

24 ÷ 2 = 12

Therefore, the answer is 12 inches.

Please help I need it in 5 minutes

Answers

i cant see the picture, post it again pls.

If the sales tax rate is 7.6%.how much sales tax will you pay on 330
item

Answers

Answer:

25.08

Step-by-step explanation:

330 x .076=25.08

Which function has the least rate of change?

Answers

yes, you’re correct; while the last answer choice is negative, that only implores it has a negative trend, a rate of change of 1 is the smallest in numeric value

What is the answer of this

Answers

-3 ; 32 ; 45 ; 84 ; 9 ; -4 ; 15 ; 31 ; 0 ; -4
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