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Mathematics : asked on okitsfrizz6366
 13.01.2020

Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced.

Assume that you take out a $3000 loan for 30 months at 9% APR. What is the monthly payment? (Round your answer to the nearest cent.)
$

. 9

Step-by-step answer

02.03.2022, solved by verified expert
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Bhaskar Singh Bora
p PhD
Mathematics, Physics. Q&A Expert
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Principal amount P = $3000 

Time interval t = 30 years

Number of installments n = 30×12 = 360 

Apr (r) = 9%  = 0.09(decimal value

The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)^n/((1 + r)^n - 1) 

where P= Loan amount, r= interest rate, n=tenure in number of months

Monthly payment = 3000×0.09×(1+0.09)^360/{(1+0.09)^360 -1} 

Emi = $270

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Mathematics
Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume that you take out a $2000 loan for 48 months at 3.5% APR. How much total interest will you have paid at the end of the 48 months? (Round your answer to the nearest cent.) $
Step-by-step answer
P Answered by Master

146.08

Step-by-step explanation:

Let's start by figuring out the payment

effective rate: .035/12= .002916667

2000=x\frac{1-(1+.002916667)^{-48}}{.002916667}\\x=44.71

then it's just

44.71*48-2000=146.08

Mathematics
Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume that you take out a $2000 loan for 30 months at 8% APR. How much of the first month s payment is interest? (Round your answer to the nearest cent.) $
Step-by-step answer
P Answered by Specialist

Step-by-step explanation:

its your answer

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Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answ
Mathematics
Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume that you take out a $3000 loan for 30 months at 8.5% APR. What is the monthly payment? (Round your answer to the nearest cent.)
Step-by-step answer
P Answered by Specialist

111.35

Step-by-step explanation:

effective rate: .085/12= .00708333333333

3000=x\frac{1-(1+.00708333333333)^{-30}}{.00708333333333}\\x=111.35

Mathematics
Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume that you take out a $3000 loan for 30 months at 8.5% APR. What is the monthly payment? (Round your answer to the nearest cent.) $
Step-by-step answer
P Answered by Specialist

111.35

Step-by-step explanation:

effective rate: .085/12= .007083333333333333

payment=x

3000=x(\frac{1-(1+.007083333333333333)^{-30}}{.007083333333333333})\\x=111.35

Mathematics
You can buy jars of the same jam in 2 sizes large jar:440g for £1.54 small jar:340g for £1.26 By considering the price per gram, work out which jar is the best value for money. Working must be shown
Step-by-step answer
P Answered by PhD
Answer: 440 grams for 1.54 is the better value
Explanation:
Take the price and divide by the number of grams
1.54 / 440 =0.0035 per gram
1.26 / 340 =0.003705882 per gram
0.0035 per gram < 0.003705882 per gram
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An ice cream shop offers 5 different flavors of ice cream and 9 different toppings. How many choices are possible for a single serving of ice cream with one topping?
Step-by-step answer
P Answered by PhD

For 1 flavor there are 9 topping

Therefore, for 5 different flavors there will be 5*9 choices

No of choices= 5*9

=45 

Mathematics
The ratio of tables to chairs at the furniture store is 1:6. There are 30 chairs. How many tables are there?
Step-by-step answer
P Answered by PhD

The solution is in the following image

The solution is in the following image
Mathematics
The value of a collectible coin can be represented by the equation y = 2 x + 15, where x represents its age in years and y represents its total value in dollars. What is the value of the coin after 19 years? $2 $23 $38 $53
Step-by-step answer
P Answered by PhD

y=2x+15

where y=Value of coin

x=Age in years

Value of coin after 19 years=2*19+15

=$53

Therefore, Value after 19 years=$53

Mathematics
Stefania pure 2 liters of orange juice and 1.5 liters of pineapple juice into a punch bowl how many kiloliters are in the punch bowl
Step-by-step answer
P Answered by PhD
The answer is in the image 

The answer is in the image 

Mathematics
Thomas got a haircut from the barber. If the haircut costs $32 and he wants to leave a 18% tip, how much will he pay in total?
Step-by-step answer
P Answered by PhD

Here,

tip=18%of $32

tip=(18/100)*32

=0.18*32

=$5.76

Total payment=32+5.76=$37.76

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