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zaharov [31]
1 year ago
9

Dahlia is trying to decide which bank she should use for a loan she wants to take out. In either case, the principal of the loan

will be $19,450, and Dahlia will make monthly payments. Bank P offers a nine-year loan with an interest rate of 5.8%, compounded monthly, and assesses a service charge of $925.00. Bank Q offers a ten-year loan with an interest rate of 5.5%, compounded monthly, and assesses a service charge of $690.85. Which loan will have the greater total finance charge, and how much greater will it be? Round all dollar values to the nearest cent.
a.
Loan Q’s finance charge will be $83.73 greater than Loan P’s.
b.
Loan Q’s finance charge will be $317.88 greater than Loan P’s.
c.
Loan P’s finance charge will be $20.51 greater than Loan Q’s.
d.
Loan P’s finance charge will be $234.15 greater than Loan Q’s.
Mathematics
1 answer:
vovangra [49]1 year ago
3 0

Answer:

  a.  Loan Q’s finance charge will be $83.73 greater than Loan P’s.

Step-by-step explanation:

<u>Loan P</u>

Monthly payments for a 9-year 5.8% loan for $19,450 are $231.59, so the total repaid is ...

  108 payments × $231.59 per payment = $25,011.72

Together with the service charge, the cost of the loan is ...

  $25,011.72 + 925.00 - 19,450 = $6,486.72

__

<u>Loan Q</u>

Monthly payments for a 10-year 5.5% loan for $19,450 are $211.08, so the total repaid is ...

  120 payments × $211.08 per payment = $25,329.60

Together with the service charge, the cost of the loan is ...

  $25,329.60 +690.85 -19,450 = $6,570.45

__

Difference of charges

The cost of Loan Q exceeds that of Loan P by ...

  $6,570.45 -6486.72 = $83.73 . . . . . matches choice A

_____

The payment values here were computed using a financial calculator. They can be found using the TVM Solver of a graphing calculator (TI-84), or by any spreadsheet. A number of web sites will also calculate loan payment values, or you can use the formula in your text to compute them yourself.

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VLD [36.1K]

Answer:

<u>The measure of the arc CD = 64°</u>

Step-by-step explanation:

It is required to find the measure of the arc CD in degrees.

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1 year ago
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Answer:

It is not possible to draw a triangle with given measurements of 3.5, 3.5, and 9.

Step-by-step explanation:

<em><u>Scalene Triangle</u></em> - All 3 sides have different lengths.

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You must be thinking that it would be Isosceles triangle, but it is not. The measurements you gave is 3.5, 3.5, and 9. Grab a piece of paper, ruler, and a pencil. First draw the length of 9 cm with your pencil and ruler (let us pretend that the measurements are in cm). Then draw 3.5 cm by placing your ruler on the end/start of your 9cm line that you drew before. Then, once again draw a 3.5 cm on the other end of the 9cm line. You will see something like the picture above. You can see that the two sides of the triangle are not intersecting on the top. This means that the triangle formation cannot be made by the given measurements of 3.5, 3.5, and 9.

I hope you understand my answer and this is an easy way to find if, from the given measurements, a triangle is able to be drawn. Thank you !!

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All you got to do first is:

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