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olganol [36]
2 years ago
15

You have just finished paying off your $35,125 loan, a feat which took ten years of quarterly payments. The loan had an interest

rate of 7.44%, compounded quarterly. If you also paid $5,180.70 in service charges, what percentage of the total cost was made up by your finance charges? Round all dollar values to the nearest cent. a. 25.69% b. 36.47% c. 57.41% d. 27.10%
Mathematics
2 answers:
erastovalidia [21]2 years ago
7 0

Answer:

36.47%

Step-by-step explanation:

mezya [45]2 years ago
3 0
We have to compute first for the total cost of the loan by obtaining the monthly amortization:
<span> A= P/ [(1+ r/n)^n-1] /r(1+r/n)^n</span>
where
P= loan amount 
P= $35125
r=interest rate of 7.44%
n = compounding frequency of 4
t= length of loan 10 years
A= $1252.7
Total cost = $1252.7x40=$50108
Computing the percentage of the finance charges 
Finance charge = debt charge+service charge
Finance charge% =($50108-$32125+$5180.7)($50108+$5180.7)x 100
                               =36.47%
The answer is letter b.36.47%


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You haven't provided the choices, therefore, I cannot provide an exact answer. However, I will help you with the concept.

For an order pair to be a solution to a system of equations, it has to satisfy <u>BOTH</u> equations. If it satisfies only one equation of the system or satisfy neither of the equations, the, it is not a solutions

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<u>System 2:</u>
y = x + 3
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Yuliya22 [10]
Xy = -109i
We could find the value of i by substitute the algebraic form of x and y to the equation above

xy = -109i
(10 - 3i)(3 - 10i) = -109i
(10)(3) -3i(3) + 10(-10i) - 3i(-10i) = -109i
30 - 9i - 100i -30i² = -109i

multiply both side by -1
-30 + 9i + 100i + 30i² = 109i
30i² + 9i + 100i - 109i - 30 = 0
30i² - 30 = 0
30i² = 30
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Then find the value of x and y if i = -1
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y = (3 - 10i)
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x/y = 13/13 = 1

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x/y = 7/-7 = -1

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