Monthly payments, P = {R/12*A}/{1- (1+R/12)^-12n}
Where R = APR = 4.4% = 0.044, A = Amount borrowed = $60,000, n = Time the loan will be repaid
For 20 years, n = 20 years
P1 = {0.044/12*60000}/{1- (1+0.044/12)^-12*20} = $376.36
Total amount to be paid in 20 years, A1 = 376.36*20*12 = $90,326.30
For 3 years early, n = 17 year
P2 = {0.044/12*60,000}/{1-(1+0.044/12)^-12*17} = $418.22
Total amount to be paid in 17 years, A2 = 418.22*17*12 = $85,316.98
The saving when the loan is paid off 3 year early = A1-A2 = 90,326.30 - 85,316.98 = $5,009.32
Therefore, the approximate amount of savings is A. $4,516.32. This value is lower than the one calculated since the time of repaying the loan does not change. After 17 years, the borrower only clears the remaining amount of the principle amount.
For this case, the first thing we are going to do is rewrite the function.
We have then:
h (x) = 505.5 + 8 * exp (-0.9 * x)
We evaluate the value of x = 5 in the function.
We have then:
h (5) = 505.5 + 8 * exp (-0.9 * 5)
h (5) = 505.588872
round to the nearest tenth:
h (5) = 505.6
Answer:
the value of h (5) is:
h (5) = 505.6
First month she payed 1451 dollars
Second month she payed 1/3 of that, which is:
1451/3 = 483.66
Third month she payed 1/3 of 483.66 because as text says, every next month she pays 1/3 of previous month payed amount.
483.66/3 = 161.22
Forth month she payed
161.22/3 = 53.74
In total she payed:
$2149.62 - B.
hope this helps :)
Answer:
He pays to the cab driver for 25 miles.
Step-by-step explanation:
Consider the provided information.
Let us consider he walks x miles at the rate of 4 miles per hour.
As we know 
Therefore, time taken is: 
He get a taxi for (31-x) miles at the rate of 50 miles per hour.
Therefore, time taken is: 
It took 2 hours after he started.
That means the sum of time take is 2 hours.
Hence he walk 6 miles and he get a taxi for 31-6=25 miles.
He pays to the cab driver for 25 miles.
