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nata0808 [166]
2 years ago
5

Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly. What will his balance be after he has made exactly

half of his monthly payments
Mathematics
2 answers:
Nastasia [14]2 years ago
5 0

Answer: 21,990.07

Step-by-step explanation: A P E X

damaskus [11]2 years ago
3 0

Answer:

The balance be after he has made exactly half of his monthly payments is $56881.4.

Step-by-step explanation:

Given : Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly.

To find : What will his balance be after he has made exactly half of his monthly payments?

Solution :

Formula of monthly payment ,

M=\frac{\text{Amount}}{\text{Discount factor}}  

Discount factor D=\frac{1-(1+i)^{-n}}{i}  

Where, Amount = $40,000

Rate r= 4% compounded monthly

i=\frac{4}{100}=0.04  

Time = 10 years  

n=10\times12=120  

Now, put all the values we get,  

D=\frac{1-(1+i)^{-n}}{i}  

D=\frac{1-(1+0.04)^{-120}}{0.04}  

D=\frac{1-(1.04)^{-120}}{0.04}  

D=\frac{1-0.00903}{0.04}  

D=\frac{0.9909}{0.04}  

D=24.7725  

M=\frac{\text{Amount}}{\text{Discount factor}}  

M=\frac{40000}{24.7725}  

M=1614.69  

Half of the monthly payment is $807.345

Payment for 10 years is 807.345\times 120=96881.4

The balance is $96881.4-$40000=$56881.4

Therefore, The balance be after he has made exactly half of his monthly payments is $56881.4.

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ivanzaharov [21]

Alright, lets get started.

At the beginning of her training, she is able to run 2 miles without stopping means 2 will be in the addition when we will write the equation for her running miles.

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Suppose she runs x weeks, so shee will add distance = \frac{3}{4}x

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5 0
2 years ago
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ziro4ka [17]

Answer:

The graph in the attached figure

Step-by-step explanation:

we have

y=3\sqrt{x+2}

Remember that the radicand must be greater than or equal to zero

so

x+2\geq 0

solve for x

subtract 2 both sides

x\geq -2

The domain is the interval [-2,∞)

All real number greater than or equal to -2

For x=-2

y=3\sqrt{-2+2}=0

so

The range is the interval [0,∞)

All real number greater than or equal to 0

Find the y-intercept

Remember that the y-intercept is the value of y when the value of x is equal to zero

For x=0

y=3\sqrt{0+2}

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y=4.243

The y-intercept is the point (0,4.243)

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7 0
2 years ago
Natasha is seeding her backyard. The backyard is square in shape and has an area of 4225 square feet. What is the length of one
N76 [4]

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List the first five terms of the sequence. a1 = 4, an+1 = 5an − 3
RUDIKE [14]

The recursive formula

a_{n+1} = 5a_n-3

is telling you that the next term in the sequence is five times the previous one, minus 3.

So, if we start with a_1=4, we have to multiply it by 5 and subtract 3 to get the next:

a_2 = 5a_1-3 = 5\cdot 4 - 3 = 20-3 = 17

And similarly we can obtain all the next terms:

a_3 = 5a_2-3 = 5\cdot 17 - 3 = 85-3 = 82

a_4 = 5a_3-3 = 5\cdot 82 - 3 = 410-3 = 407

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5 0
2 years ago
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svp [43]

n(A-B) denotes elements which are in A but not in B

n(Au B) denotes elements in A and B

n(AnB) denotes elements that are common in A and B

Now I will add one more set

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So, n(AuB) = n(A-B) + n( B-A) +n(AnB)

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So, n(B) = n( B-A) + n( AnB)

= 27+25

= 52

4 0
2 years ago
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