Manuel borrowed $1,500 from his bank and signed a
contract to make monthly payments for two years at 4%
interest compounded annually. How much total interest
will Manuel pay on this loan?

Answers

Answer 1

Answer:

The total interest to pay back on the loan is $122.40

Step-by-step explanation:

Here. we want to get the amount of interest on the loan

We are going to use the compound interest formula here

A = P(1 + r/n)^nt

where A is the amount to be paid back

P is the amount borrowed called the principal which is $1,500

r is the interest rate which is 4% annually

This is same as 4/100 = 0.04

n is the number of times the interest will be compounded per year ; annually means yearly and so for this case, n = 1

t is the number of years = 2

So we have;

A = 1500(1 + 0.04/1)^(2)(1)

A = 1500(1.04)^(2)

A =$ 1,622.40

So the amount of interest is the difference between the amount borrowed and the value to pay back

That will be;

$1,622.40 - $1,500

= $122.40


Related Questions

What is the smallest perfect square ​

Answers

Answer:

Answer: 0 is smallest perfect square but if Any number that can be written as a POSITIVE integer to the power of 2. then 1 is the smallest perfect square number.

Step-by-step explanation:

Answer:

Answer: 0 is smallest perfect square but if Any number that can be written as a POSITIVE integer to the power of 2. then 1 is the smallest perfect square number.

Step-by-step explanation:

Can someone help Solve these 2 questions for me? It's about Slope Intercept Forms.

Answers

Answer:

9.) The slope is 3 and the y-intercept is -5

10.) y = 0.25x -11

Hope this helped!

Stay safe! <3

Nov. 1 Loaned $52,200 cash to C. Bohr on a 12-month, 7% note. Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $1,800, 90-day, 8% note. Dec. 16 Received a $4,800, 180-day, 10% note to settle an open account from A. Murdock. Dec. 31 Accrued interest revenue on all notes receivable.

Answers

Answer:

Dr Notes Receivable $52,200

Cr Cash $52,200

Dec. 11

Dr Notes Receivable $1,800

Cr Cash $1,800

Dec. 16

Dr Notes Receivable $4,800

Cr Accounts Receivable $4,800

Dec. 31

Dr Interest Receivable $637

Cr Interest Revenue $637

Step-by-step explanation:

Preparation of the journal entries

Nov 1

Dr Notes Receivable $52,200

Cr Cash $52,200

Dec. 11

Dr Notes Receivable $1,800

Cr Cash $1,800

Dec. 16

Dr Notes Receivable $4,800

Cr Accounts Receivable $4,800

Dec. 31

Dr Interest Receivable $637

Cr Interest Revenue $637

($609+$8+$20)

Working:.

Interest Revenue

Note that 1 Nov to Dec 31st will give us 2 months

=$52,200 x 0.07 x 2/12 =$609

Note that Dec 11 to Dec 31st will give us 20 days

=$1,800 x 0.08 x 20/360 =$8

Note that Dec 16 to Dec 31st will give us 15 days

=$4,800 x 0.10 x 15/360=$20

Whoever answers correctly gets brainliest.

Answers

Answer:

C. r+r+r+t+t = 3r + 2t

Step-by-step explanation:

because we cant add numbers with different variables

Help plssssss! Thnx!

Answers

Answer:

$55.48

Step-by-step explanation:

nice to help you.hope it helps

Write the equation, in slope-intercept form, for the line shown in the graph below​

Answers

y=5x+3

:::::)))))))))

Which of the statements below is an accurate way to describe volume?

A: The number of unit cubes it takes to fill up a solid.

B: The space occupied by a flat shape or the surface of an object.

C: The distance around a two-dimensional shape.

D: The total area of the surface of a three-dimensional object.

Answers

Answer:

D: The total area of the surface of a three-dimensional object.

Which of the following pairs of functions are inverses of each other?

Answers

Answer:

THE ANSWER IS B

Step-by-step explanation:

IT JUST MAKES SENSE TO CHOOSE B

The option D pairs of functions are inverses of each other.

What is the function?

A relationship between a group of inputs and one output is referred to as a function. In plain English, a function is an association between inputs in which each input is connected to precisely one output. A domain, codomain, or range exists for every function. Typically, f(x), where x is the input, is used to represent a function.

To find the inverse of a function, write the function f(x) as a function of x and then solve for x as a function of f(x).

For option A,

f(x) = 2 + ∛x

To solve for x,

∛x = f(x) - 2

x = (f(x) - 2)³

That is also the inverse So,

g(x) = (x -2)³ "Not correct"

For Option B,

f(x) = x/6 + 8

To solve for x,

x/6 = f(x) -8

x = 6f(x) - 6 *8

That is also the inverse So,

g(x) = 6x - 6 *8 "Not correct"

For Option C,

f(x) = 7/x - 9

To solve for x,

7/x = f(x) +9

x = [tex]\frac{7}{f(x) +9}[/tex]

That is also the inverse So,

g(x) = [tex]\frac{7}{x +9}[/tex] "Not correct"

For Option D,

f(x) = 5x - 11

To solve for x,

5x= f(x) + 11

x = (f(x) + 11)/5

That is also the inverse So,

g(x) =(x + 11)/5 "correct"

Thus, the option D pairs of functions are inverses of each other.

Learn more about function here:

https://brainly.com/question/29633660

#SPJ7

Item 6
Question 1
The box-and-whisker plot represents the numbers of gallons of water needed to fill different types of dunk tanks offered by a company.





a. What fraction of the dunk tanks require at least 500 gallons of water? Write the fraction in simplest form.

About ___
of the dunk tanks require at least 500 gallons of water.

Answers

Answer:

a)  1/2

about 50%

Step-by-step explanation:

Solve for x -(-2x+1)=9-14x​

Answers

Answer:

x = 5/8

Step-by-step explanation:

Can I get help with this

Answers

Answer:

the red one represents nature trails in Panama city. because by plugging in a number into the equation say for 1 in x = y being 3 which corresponds to be linear.

Jacksonville will have more nature trails sine the formula is growing exponentially rather than Panama linear growth.

What are the solutions to this equation?

16x2 + 9 = 25

Answers

Answer:

x = 1, -1

Step-by-step explanation:

Answer: 16x2 + 9 = 25 A. x = -4 and x = 4 B. x = 0 and x = 4 C.

Step-by-step explanation:

Math question pls help

Answers

Answer: 190 is the answer!!!

Explanation: have a good day

I need to know the answer to this question? 9(p−4)=−18

Answers

Answer:

p = 2

Step-by-step explanation:

Solve the equation:

Distributive property: 9p - 36 = -18

Isolate the variable: 9p = 18

Divide: p = 2

Can I have Brainliest?

Will give brainlyest!! the measures of the angles of the triangle are 50, 30 and 95 degrees.
What is the measure of the largest exterior angle of the triangle

Answers

Answer:

145 degrees

Step-by-step explanation:

The largest exterior angle would be the one with the smallest interior angle, which is 35 And exterior and interior angles is always 180.

180 - 35 = 145 degrees

I need the brainliest

Answer:

145 degrees

Step-by-step explanation:

I don't want the brainleist.

PLSSS I NEED THE HELP I HAVE SOME MANY QUESTIONS!
A cylindrical waste can has a volume of 197.92 cubic inches and its base has a radius of 3 inches. Which measurement is closest to the height of the waste can

Answers

Answer:

7inches

Step-by-step explanation:

Volume of a cylinder = πr²h

r is the radius of the cylinder

h is the height of the cylinder

Given

r = 3inches

Volume = 197.92 cubic inches

Substitute

197.92 = 3.14(3)²*h

197.92 = 28.26h

28.26h = 197.92

h = 197.92/28.26

h = 7.003in

Hence the measurement that is closest to the height of the waste can is 7inches

The difference of two numbers is 8. If the sum of the smaller number and the square of the larger number is 148, what is the larger number?

Answers

Small number is 4 and the large number is 12.

12 - 4 = 8

12^2 + 4 = 144 + 4 = 148

Have a nice day sie

PLEASE HELP AND HURRY!!!!!

A square playground is covered with pebbles, except for two equal size triangular portions that have grass. How many square feet do the pebbles cover?
7ft
14ft

Answers

Answer:28\2

Step-by-step explanation:

7+7=14

7+7=14

14+14=28

Triangle A=1\2bh

So 28\2

The pebbles cover an area of 147 sq ft. We can use the Pythagorean theorem to find the solution.

What is Pythagoras theorem?

The Pythagoras theorem states that in a right triangle, the square of the hypotenuse is equal to the sum of the square of the other two sides.

Now, Let's call the length of the third side of the triangle "x".

Since the two triangles are equal in size, and they share two sides with the square, we can use the Pythagorean theorem to find x.

a² + b² = c²

7² + 7² = c²

49 + 49 = c²

98 = c²

c = √(98)

c = 7 √(2)

So, each triangle has a base of 7 ft and a height of 7 √(2) ft.

And, Area of each triangle = (base × height) / 2

                                          = (7 × 7√(2)) / 2

                                          = 24.5 ft²

Since, there are two triangles,

Hence, the total area of the grass is,

⇒ 24.5 sq ft × 2 = 49 sq ft

Hence, The square has an area of,

⇒  14ft × 14ft = 196 sq ft

So, The pebbles cover an area of,

⇒ 196 sq ft - 49 sq ft = 147 sq ft.

Learn more about Pythagorean theorem here: brainly.com/question/14930619

#SPJ2

simplify (3x+2)(3x-2)

Answers

Answer:

9 (*2)  − 4

Step-by-step explanation:

the *2 is the square unit

find the diffrence of the following sequence : -7,-9,-11

Answers

Answer:

-2

Step-by-step explanation:

you're subtracting 2 from each to get the next number, so the answer is -2

hope this helps, have a wonderful day :))

Which set of angles are supplementary?

Answers

Answer:

the third option

Step-by-step explanation:

im pretty sure about this <3

The price of the video game was reduced from $60 to $45. By what percentage was the price of the video game reduced.

Answers

Answer:

It was reduce by 25%

45 so it would be reduced by 25%

___

60

x 100% = 75%

Answer:

25%

Step-by-step explanation:

$60 - $45 = $15

$15/ $60 = 0.25 = 25%

Please help!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

C

Step-by-step explanation:

There is a larger variety of lengths in the 9th grade textbook

find the circumference of the circle. circle radius is 8cm

Answers

Answer:

50.24

Step-by-step explanation:

you multiply 8 x 2 to get 16

then you multiply 16 x 3.14 to get 50.24


Russell has already taken 540 quizzes during past quarters, and he expects to have 5 quizzes
during each week of this quarter. After attending 5 weeks of school this quarter, how many
quizzes will Russell have taken in total? Write and solve an equation to find the answer.
quizzes
Help please it’s IXL

Answers

Answer:

565

Step-by-step explanation:

5x5=25

540+25=565

hello my friend is from 7th grade she need help with her math 5200 at 49% for 3years??

Answers

Answer:

At the end you will have 12,844$ and you have earned 7644$

Step-by-step explanation:

49% 49 times the money 5,200$ = 254,800 divided by 100 = 2548 in 1 year.

Times 2548 by 3 and get 7644$ ( Interest Earned ) add that by original money and get 12,844$ (Money In Total)

Two cards are dealt from a standard 52-card deck, with replacement. What is the probability that
both cards are face cards?

Answers

They were split into two decks

Marc is filling 1-cup containers with juice.
He has 5 gallons of juice. How many 1-cup
containers can he fill? (1 gallon = 16 cups)

Answers

Answer:

80

Step-by-step explanation:

5*16 = 80

Hence, the Marc has the number of cups are [tex]80[/tex].

What is the equation?

An equation can be defined as a mathematical statement consisting of an equal symbol between two algebraic expressions that have the same value.

The most basic and common algebraic equations in math consist of one or more variables.

Here given that,

Marc is filling one-cup containers with juice. He has five gallons of juice.

As we know,

[tex]1gallon=16cups[/tex]

So, it would be [tex]5(16)=80[/tex].

Hence, the Marc has the number of cups are [tex]80[/tex].

To know more about the equation

https://brainly.com/question/12788590

#SPJ2

Solve by using common denominators 2/1 divide 1/4

Answers

Answer:

8

Step-by-step explanation:

That'd be "2/1 divided by 1/4" and if we use common denominators we get:

   2      8

 ----- = -----             divided by 1/4      comes out to 8/1, or just 8

    1       4

The time t required to do a job varies inversely as the number of people working. It takes 5 hr for 3 cooks to prepare the food for a wedding rehearsal dinner. How long will it take 8 cooks to prepare the dinner?

Answers

Answer: It will take 1.875 hours

Step-by-step explanation:

Given that time t required to do a job varies inversely as the number of people working.

we have it expressed as

t∝1/N

where t is time  required to do a job

N is the number of people working.

Introducing our constant of proportionality, we have tht

t=k1/N

t=k/N

Now since it takes 5 hr for 3 cooks to prepare the food , K becomes

t=k/N

5=K/3

K=5X3=15

Given that there are 8 cooks, time required to prepare dinner will be

t=k/N

t=15/8

t=1.875 hours

Other Questions
In what ways did the Mexican American War help fulfill Manifest Destiny? A medical equipment industry manufactures X-ray machines. The unit cost C (the cost in dollars to make each X-ray machine) depends on the number of machines made. If X machines are made, then the unit cost is given by the function C(x)=0.7x^2-462x+88218 . What is the minimum unit cost? You have a paid internship working in an after-school academic program. Your supervisor mentions that the program, and your position, are possible because of Title I. What can you logically conclude about your program?a. It employs traditional models of discipline and learning.b. It is composed of students from low-income families.c. It is the result of highly organized systems of data collection.d. It has a strong and dedicated teaching staff. Use the Daily Compounding chart in your book to answer the following question. Alana Geltner deposited $2,250 in a savings account that pays 5.5 percent interest compounded daily. How much interest did she earn after 130 days? What is the area of kite QRST? If necessary, round to the nearest tenth. do you think the increase of R10 towards the child support grants is enough? Sam loaned $8,000 to his brother to make a down payment on a new home. Threeyears later, he paid her back the $8,000 along with an interest of $900. If theinterest that was collected was simple interest, what was the annual interest rate?Round answer to two decimal places.I need help this one someone please I will Mark someone brainliest and if you post any links I will report you. help me please someone........... Shady rivers summer cam has 188 campers this week. If there are 22 campers to each cabin what is the fewest numbers of cabins needed Soil has a specific heat capacity of 1.700J/g C. During the day, the temperature of soil in aflowerpot increased from 15.6C to 35.5C. If the energy from the sun was calculated to be 251 175J,what was the mass of the soil? Show your work. Here are two patterns made using identical rhombuses. Without using a protractor, determine the value of a and b. Which statement best describes bias?(1 point) Math Problem Below.Match Each Expression from the column on the left to an equivalent expression in the column on the right. Question 5 of 10What are the disadvantages of a contractfor deed? Select two. hi can you please help me with my work Which of the following statements best represents the reasoning used by the author of "Benefits of an Arranged Marriage"? When she discusses Obama in the first paragraph, the authors tone is best described asA angry and uncertainB largely criticalC apologetic yet determinedD nonchalantE self-deprecating A contractor decided to build homes that will include the middle 80% of the market. If the average size of homes built is 1810 ft2 with a standard deviation of 92 ft2, find the maximum and minimum sizes of the homes the contractor should build. Assume that the size of homes is normally distributed. Find the area of the sector. Use 3.14 for the value of 5. Round your answer to the nearest tenth. What message does the League of Nations send to Italy after they invaded Ethiopia?