Suppose you borrow P dollars at a monthly rate of r expressed as a decimal. Suppose further that you repay the loan in
monthly payments and that interest is compounded monthly. Then your monthly payment, in dollars, is given by
.
?
A: What is your monthly payment if you borrow 10878 dollars at a monthly rate of 0.01 and pay it off over 3 years?B: Use your answer to part A to determine the total amount you pay the bank.C: If you accept a $1000 rebate, you only need to borrow 9878.00 dollars, but your monthly rate is 0.015. What is the total amount you pay the bank in this circumstance? (Round the monthly payment to two decimal places before you calculate your answer.)
What will be an ideal response?
A: $361.31?B. $13007.16?C.$12855.96
You might also like to view...
Solve the problem.The radius r and height h of a cylinder are changing with time. At the instant in question,
and
At what rate is the cylinder's volume changing at that instant?
A. 2.51 cm3/sec B. 1.38 cm3/sec C. 3.52 cm3/sec D. 1.01 cm3/sec
Perform the indicated operation.9 tons 506 lb - 4 tons 871 lb
A. 5 tons 365 lb B. 4 tons 1,635 lb C. 5 tons 1,635 lb D. 13 tons 1,377 lb
Solve the problem.Ken is 6 feet tall and is walking away from a streetlight. The streetlight has its light bulb 14 feet above the ground, and Ken is walking at the rate of 4.1 feet per second. Find a function, d(t), which gives the distance Ken is from the streetlight in terms of time. Find a function, , which gives the length of Ken's shadow in terms of d. Then find
.
A. (S ? d)(t) = 6.93t B. (S ? d)(t) = 2.26t C. (S ? d)(t) = 3.08t D. (S ? d)(t) = 3.9t
Perform the indicated operation.21.6 ml ÷ 4.8
A. 0.045 ml B. 4.5 ml C. 45 ml D. 0.45 ml