You purchase a car using a $20,000 loan with a 5% simple interest rate.
(a) Suppose you pay the loan off after 4 years. How much interest do you pay on your loan? Show your
work and don’t forget the unit!
(b) Suppose you pay the loan off after 3 years. How much interest do you save by paying the loan off
sooner? Show your work and don’t forget the unit.
Answer: a) b)

Answers

Answer 1
the answer is A) I=prt; I=20,000(.05)(4) = $4000 b) I = prt; I = 20,000(.05)(2) = $2000 $4000-$2000 = $2000. You save $2000 by paying it off in 2 years vs. 4 years
Answer 2

The total interest paid on a $20,000 loan at 5% simple interest over 4 years is $4,000.

To solve part (a) of the question, we calculate the amount of interest paid on a $20,000 loan over 4 years with a 5% simple interest rate:

Calculate the annual interest: $20,000 * 5% = $1,000.

Multiply the annual interest by the number of years: $1,000 * 4 years = $4,000.

The total interest paid after 4 years is $4,000.

For part (b), to find the interest saved by paying off the loan after 3 years instead of 4 years, we do the following:

Calculate the interest for 3 years: $1,000  imes 3 years = $3,000.

Deduct the 3-year interest from the 4-year interest: $4,000 - $3,000 = $1,000.

The interest saved by paying the loan off after 3 years is $1,000.


Related Questions

Which of the following is equivalent to 0.01?
A.10^00.1
B.10^-2
C.10^-1
D.10^1

Answers

D is the answer to your question
the answer is b. 10^-2

what is the value of the following expression 2x (6+[12÷(3+1)])-1

Answers

First you do the problem in the parentheses ( 3+1 ) which equals 4 then the brackets wich is [ 12 divided by 4 ] wich is 3 then the parentheses 6 + 3 equals 9 then times 2 wich is 18 - 1 is 17 so ur answer is. 17 notify me if I'm right or wrong

The value of the given expression will be 17.

What is an expression?

Expressions in maths are mathematical statements that have a minimum of two terms containing numbers or variables, or both, connected by an operator in between.

Given an expression, 2(6+[12÷(3+1)])-1

2{6+12/4}-1

= 2(6+3)-1

= 2*9-1

= 17

Hence, The value of the given expression will be 17.

For more references on expression, click;

https://brainly.com/question/14083225

#SPJ5

A group of 140 tourists are going on a tour. The tour guide rents 15 vans. Each van holds 9 tourists. What does the remainder mean in the context of the problem?

Answers

The remainder mean are the tourist who aren't able to get on the ban so you need to make sure you have enough vans for all the tourists
The context is the amount of the tourists who can't get on a van

need help plz supposed to turn 8/27 into exponents please help

Answers

Really simple when you look at it.

You need 3 numbers multipled together, which means you need the third root

what is a number that multipled by itself will give 8? how about 27?

2x2x2 = 8
3x3x3 = 27

so the answer in all of them is (2/3)x(2/3)x(2/3)

73÷1391 find each quotient and the remainder

Answers

the anwser is 19 remainder 4 

At the start of the week, you could complete 12 push-ups. By the end of the week, you could complete 17 push-ups. Which proportion could you use to find the percent increase in the number of push-ups you can complete

Answers

It would be: 5/12 * 100 = 500/12 = 41.66%

So, your final answer is 41.66%

Hope this helps!

Answer:

The percentage increase is equal to [tex]41.67\%[/tex]

The proportion to find the percentage increase is equal to [tex]\frac{5}{12}*100[/tex]

Step-by-step explanation:

we know that

[tex]12\ push-ups[/tex] ------> represent the [tex]100\%[/tex]

The increase of push-ups is equal to

[tex]17-12=5\ push-ups[/tex]

by proportion

[tex]\frac{12}{100}\frac{push-ups}{\%} =\frac{5}{x}\frac{push-ups}{\%}\\ \\x=\frac{5}{12}*100\\ \\x=41.67\%[/tex]

The percentage increase is equal to [tex]41.67\%[/tex]

The proportion to find the percentage increase is equal to [tex]\frac{5}{12}*100[/tex]

the perimeter of the rectangle is 96 feet find the dimension of the rectangle If the ratio of the length is the width is 7:5 which of the following would be the best equation to use to solve this problem.

A.2x+2x=96

B.7x+5x=96

C.2 (7x)+2 (5x)=98

D.7x/5x=96

Please help.

Answers

I hope this helps you

cassie has 8 red and 12 yellow marbles. her mom doubles her collection. use tyhe distributive property to show how many she has now.

Answers

2(8+12)
2(8)+2(12)
that is 16 plus 24 which makes 40

how do you shade the model to show the decimal 0.542

Answers

You turn the decimal into a percent

Suppose you had to find 4x57. How are expanded algorithm and standard algorithm alike? How are they different?

Answers

i guess 4 x 57 = 4(50 + 7) = 200 + 28 = 228. 
The other is to say 57 x 4: 
7x4 = 28 write down the 8 and carry the 2. 
5x4 = 20, add 2 to get 22 and write 22. 
Answer is 228. 

_ 57 
_ x4 
------ 
228

triangle has angles that measure 106° and 59°. What is the measure of the third angle? A. 15° B. 47° C. 74º D. 121°

Answers

Add 106º+59º together which gives us 165º

We know that triangles are 180º

Therefore the answer is A: 15º

Convert 3/20 to a percent.

Answers

15% because 20 to 100, you have to multiply by five and what you do to the denominator, you do to the numerator
3*5=15 
so the answer is 15/100 or 15%

Answer is provided in the image attached.

Last year you received 25 valentine cards from all of your friends. This year you received 30 total valentines. Calculate the percent change

Answers

15%  i could tell after finding 25s half point which is 14.50

Rita sprinted 77 feet in 10 seconds. how many miles per hour is this

Answers

There are 60 seconds in a minute. 77 x 6 = 462 feet.
60 minutes in an hour. 462 x 60 = 27,720 feet converted feet into miles = 5.25 MPH.

--
;)

Final answer:

Rita sprinted 77 feet in 10 seconds. Her speed is approximately 5.25 miles per hour.

Explanation:

To convert the distance covered by Rita from feet to miles, we need to divide the distance by the number of feet in a mile:

77 feet ÷ 5280 feet/mile = 0.0145833 miles

To convert the time from seconds to hours, we need to divide the time by the number of seconds in an hour:

10 seconds ÷ 3600 seconds/hour = 0.00277778 hours

To calculate the speed in miles per hour, we divide the distance by the time:

Speed = Distance ÷ Time = 0.0145833 miles ÷ 0.00277778 hours ≈ 5.25 miles per hour

Fast way to solve: sum of prime numbers between 60 and 70

Answers

61 and 67 these are the prime numbers between 60 and 70
61 and 67 are the prime numbers

convert 3.09kg to grams

Answers

If u converted to grams it would = 3090g

:)
3090. Please tell me if this is right!

An automobile detailer can detail 20 cars in 10 hours. At this rate, how many cars can he detail in 1 hour?

Answers

20/10 is 2 so he can detail two cars an hour

Explain why it is possible to draw more than two different rectangles with an area of 36 square units, but it is impossible to draw more than two different rectangles with an area of 15 square units. The sides of the rectangles are whole numbers.

Answers

area=legnth times width
see the factor pairs
36=
1*36
2*18
3*12
4*9
6*6
more than 2 factor pairs so more than 2 ractangles


15 factor pairs
15=
1*15
3*5
those only
there are only 2 factor pairs

At medina middle school 2% of the students ride bikes to school. If 950 students attend Medina middle school how many students ride a bike to school?

Answers

19 students.  950 times 0.02= 19

Answer:

19

Step-by-step explanation:

it is 19

a bowl contains 15 granola bars and 10 fruit bars what is the ratio of granola bars to fruit bars?

Answers

granola bars:fruit bars
15:10=3:2
3:2. Hope this helps

Allen is traveling 65 MPh. how many hours will it take for him to travel 585 miles?

Answers

Final Answer:

It will take Allen approximately 9 hours to travel 585 miles at a speed of 65 miles per hour.

Explanation:

To determine the time Allen will take to cover a distance of 585 miles while traveling at 65 miles per hour, the formula for time, which is distance divided by speed, is used. Using this formula: Time = Distance / Speed. In this case, Time = 585 miles / 65 miles per hour, which equals approximately 9 hours. This calculation is derived by dividing the total distance Allen needs to travel, which is 585 miles, by his speed of 65 miles per hour, giving us the time it will take for him to complete the journey.

This formula of time equals distance divided by speed is a fundamental concept in physics and helps calculate the time taken to cover a given distance at a certain speed. By dividing the distance of travel by the speed at which Allen is traveling, we get the time required for the journey.

Understanding the relationship between distance, speed, and time enables us to compute travel durations accurately. In this case, for Allen traveling at a constant speed of 65 miles per hour, dividing the total distance of 585 miles by his speed reveals that it will take him approximately 9 hours to reach his destination.

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7 more than the product of a number and 4 is 51 what is the number? A.4 B.5 C.13 or D.11

Answers

I would say 13 would be your answer. Hope this helps!

what is 2 fifths of 25

Answers

25 ÷ 5 = 5 = 1 fifth
5 × 2 = 10 = 2 fifths
Hope this helps!
the answer is 10 two fifths of 25 is 10

what is the percent of increase for a population that changed from 438000 to 561000

Answers

It would be: 561000 - 438000 / 438000 * 100
 = 12300 / 438000 * 100
 = 1230000 / 438000
 = 28.08

So, your final answer is 28.08%

Hope this helps!

You float 2000 feet along a lazy river water ride. The ride takes less than 10 minutes. Give two examples of possible times and speeds.

Answers

if you travel at 200 feet per minute you can make in ten minutes
Because 200 times 10 equals 2000

3x+1/5y=7 solve for y

Answers

Hello!

First, let's write the problem.
[tex]3x+\frac{1}{5}y=7[/tex]
Subtract 3x from both sides.
[tex]3x+\frac{1}{5}y-3x=7-3x[/tex]
[tex]\frac{1}{5}y=7-3x[/tex]
The opposite of division is multiplication, so we are going to multiply in order to undo the fraction.
[tex]5\cdot \frac{1}{5}y=5\cdot \:7-5\cdot \:3x[/tex]

Our final answer would be, 
[tex]y=35-15x[/tex]

Thanks!
-TetraFish

Which of the tables represents a function?


Table A
Input Output
4 3
3 2
3 1
Table B
Input Output
1 3
3 5
5 7
Table C
Input Output
0 0
1 4
1 5
Table D
Input Output
4 1
4 2
4 3








Table A
Table B
Table C
Table D

Answers

Table B. The same input can't go to different outputs

Answer:

In functions, there can be more than one of the same output, but there cant be more than one of the same input.

Step-by-step explanation:

Let's look at table A.

Input Output

4 3

3 2

3 1

We have two 3's for our input.

Let's take a different approach to this if you don't understand.

Let's imagine we have a vending machine.

If you press the number 2 you get Doritos

If you press the number 4 you get Sprite

Though if you press the number 3 you could either get Cashews or Cheetos. If you paid for the Cheetos and you get Cashews, that wouldn't be good; Its like a guessing game.

So, therefore Table A is NOT correct, as two of our input's are the same number.

Now let's look at Table B

Input Output

1 3

3 5

5 7

All of our input's are different, which is good. Let's imagine the vending machine again.

Pressing number 1 gives us Doritos

Pressing number 3 gives us Barbecue Chips

Pressing number 5 gives us Kettle Chips.

We get what we pay for, which means, in this equation, if you input is number 1, we will have number 3 as our output, ect.

This table IS correct.

I think you can apply this procedure to the other two tables to determine which one is right :)

Hope this helps, reach out if you need any more help!

Which answer option shows the correct placement of the parentheses to make this a true number sentence? 8 + 4 ÷ 2 = 6

Answers

(8+4)/2=6 would be the correct placement of the parentheses.
The correct placement would be (8+4) divided by 2 = 6. I don't have the division key on my device. In addition, the sum of 8 and 4 is 12. Then 12 divided by 2 is 6.

One pound of chicken costs $3.Jim buys 8 and 2/3 pounds of chicken.how much does jim pay for the chicken?

Answers

it would cost $26 because 3x8=24. 3/1/3=1. so 1/3=$1.

Using scale factor of 1 inch = 5 feet, the blueprint dimensions of bedroom that is 12 feet x 18?

Choices
A) 2.2 in. X 3.3 in.
B) 2.4 in. X 3.6 in.
C) 2.8 in. X 4.2 in.
D) 2.9 in. X 5.0 in.

Answers

The only thing that you need to do on this problem is divide.

The first dimension is 12 feet so we need to divide that by 5.

12 / 5 = 2.4

The first dimension is 2.4. 

From this point we don't need to solve any more because there is only one answer with 2.4 in it, so we can conclude that the answer is B

The blueprint dimensions for a bedroom that is 12 feet by 18 feet using a scale factor of 1 inch = 5 feet are 2.4 inches by 3.6 inches, which is choice B.

To find the blueprint dimensions of a bedroom that is 12 feet by 18 feet using a scale factor of 1 inch = 5 feet, we need to convert the actual dimensions to inches on the blueprint. For the length:

12 feet / 5 feet per inch = 2.4 inches

And for the width:

18 feet / 5 feet per inch = 3.6 inches

Therefore, the dimensions on the blueprint would be 2.4 inches by 3.6 inches, which corresponds to choice B.

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