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alex41 [277]
2 years ago
5

kostas gets a four year bank loan to buy a new car that is priced at 20,987. after four years Kostas Will have paid the bank it’

s total of $22,960. what interest rate did the bank give him if the interest was compounded monthly. Show your work .
Mathematics
1 answer:
yanalaym [24]2 years ago
6 0

Answer:

r = 2.04%

Step-by-step explanation:

r = n{(A/P)^1/nt - 1}

Where,

r = interest rate = ?

n = number of periods = 12

A = future value = $22,960

P = present value = $20,960

t = time = 4 years

r = n{(A/P)^1/nt - 1}

r = 12{(22,960/20,987)^1/12*4 - 1}

= 12{(1.09)^1/48 - 1}

= 12{(1.09)^0.02 - 1}

= 12 (1.0017 - 1)

= 12(0.0017)

= 0.0204

r = 0.0204 × 100

= 2.04%

r = 2.04%

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Answer:

-1050

Step-by-step explanation:

I know the answer because descending means going down so 2100 is the big number and its negative to if you do -2100 divided by 2 then you will get -1050.

8 0
2 years ago
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A motorboat covers the distance from one pier to the other pier in 4 hours and the way back in 5 hours. What is the speed of the
stiv31 [10]
Speed of current ------ y km/h 

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<span>distance against the current = 5(x-y) </span>

<span>we know that 3.5(x+y) = 70 </span>
<span>x+y = 20 </span>

<span>but 4(x+y) = 4(20) = 80 </span>
<span>then 5(x-y) = 80 </span>
<span>x-y = 16 </span>

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<span>x-y=16 </span>
<span>add them </span>
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5 0
2 years ago
Felecia left her home to visit her daughter, driving 45mph. Her husband waited for the dog sitter to arrive and left home 20 min
Jet001 [13]

Felecia's husband will catch up to her 1 hour 30 minutes after leaving.

Step-by-step explanation:

Step 1; Felecia is traveling at 45 mph, her husband starts 20 minutes after her but travels at a speed of 55 mph. So first we need to calculate how much of a head start Felecia got.

Head start = \frac{1}{3} × 45 miles an hour = 15 miles.

So Felecia got a head start of 15 miles.

Step 2; Since Felecia and her husband are traveling at different rates, we can determine how much distance there is between them. Since Felecia is traveling at 45 mph and her husband is traveling at 55 mph, their gap in between is closing at a rate of 55 - 45 = 10 miles every hour. So for every hour, the gap between them is closing by 10 miles.

Total gap initially = 15 miles.

The rate at which gap is being closed = 10 miles an hour.

Time to close the gap = 15 / 10 = 1.5 hours.

8 0
2 years ago
Andy, who loves to cook, makes apple cobbler for his family. The recipe (serves 6) calls for 434 pounds of apples, 514 cups of f
Tamiku [17]

This question was not written properly

Complete question;

Andy, who loves to cook, makes apple cobbler for his family. The recipe (serves 6) calls for 4 3/4 pounds of apples, 5 1/4 cups of flour, 1/6 cup of margarine, 2 7/8 cups of sugar, and 2 teaspoons of cinnamon. Since guests are coming, Andy wants to make a cobbler that will serve 15 (or increase the recipe 2 1/2 times). How much of each ingredient should Andy use?

Answer:

To serve 15, number of ingredients Andy should use =

Apples = 11 7/8 pounds

Flour = 13 1/8 cups

Margarine = 5/12 cups

Sugar = 7 3/16 cups

Cinnamon = 5 teaspoons.

Step-by-step explanation:

The recipe (serves 6) calls for 4 3/4 pounds of apples, 5 1/4 cups of flour, 1/6 cup of margarine, 2 7/8 cups of sugar, and 2 teaspoons of cinnamon. Since guests are coming, Andy wants to make a cobbler that will serve 15 (or increase the recipe 2 1/2 times). How much of each ingredient should Andy use?

For Apples

Serving for 6 = 4 3/4 pounds of apples

Serving for 15 =

= 15 × 4 3/4 pounds/6

= 11 7/8 pounds of apples

For flour

6 servings = 5 1/4 cups of flour,

15 servings =

15 × 5 1/4 cups/6

= 13 1/8 cups of flour

For Margarine

6 servings = 1/6 cups of margarine

15 servings =

= 15 × 1/6 cups/6

= 5/12 cups of margarine

For Sugar

6 servings = 2 7/8 cups of sugar

15 servings =

15 × 2 7/8 cups/6

= 7 3/16 cups of sugar

For Cinnamon

6 servings = 2 teaspoons of cinnamon

15 servings =

15 × 2/6

= 5 teaspoons

Therefore, to serve 15, number of ingredients Andy should use =

Apples = 11 7/8 pounds

Flour = 13 1/8 cups

Margarine = 5/12 cups

Sugar = 7 3/16 cups

Cinnamon = 5 teaspoons.

5 0
2 years ago
Melissa and Joey enjoyed dinner at a restaurant. They paid the waiter $100.50 plus a 20% tip. How much did each person pay if th
BigorU [14]

Each person should pay if the total bill should split is $60.30.

Given that,

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Based on the above information,

The total amount paid including the tip is

= $100.50 + 20% of $100.50

= $120.60

Now the above amount should be split into 2 persons so it should be $60.30.

Therefore we can conclude that each person should pay if the total bill should split is $60.30.

Learn more: brainly.com/question/19877146

7 0
1 year ago
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