Hailey is considering taking out an 8-year loan with monthly payments of $115 at an APR of 3.2%, compounded monthly, and this eq
2 answers:
Solution:
Let initial amount of loan = $ x
Total amount that Hailey,is thinking about taking as loan= $ 9728.75
Number of months in 8 years = 12 × 8 =96 months
So, If monthly payment= $ 115
Total money paid after 96 months = 115 × 96=$ 11040
Monthly amount if APR= 3.2 % monthly of amount x=
Total money paid after 6 years= 72 months = 115 × 72=$ 8280
Total money paid after 10 years= 120 months = 115 × 120=$ 13,800
Option (D) : →→ If it were a 10-year loan, the amount of the loan that Hailey is considering taking out would be more than $9728.75 is true.
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Answer:
Step-by-step explanation:
<h3> The complete exercise is: " A theatre has the capacity to seat people across two levels, the Circle, and the stalls. The ratio of the number of seats in the circle to a number of seats in the stalls is 2:5. Last Friday, the audience occupied all the 528 seats in the circle andLet be "s" the total number of seats in the Stalls.
The problem says that the ratio of the number of seats in the Circle to the number of seats in the Stalls is .
Since the number of seats that were occupied last Friday was 528 seats, we can set up the following proportion:
Solving for "s", we get:
So the sum of the number of seats in the Circle and the number of seats in the Stalls, is:
We know that of the seats in the Stalls were occupied. Then, the number of seat in the Stalls that were occupied is:
Therefore, the total number of seats that were occupied las Friday is:
Knowing this, we can set up the following proportion, where "p" is the the percentage of occupancy of the theatre last Friday:
Solving for "p", we get: