Charles needs a $10,000 loan in order to buy a car. Which loan option would allow him to pay the LEAST in interest? A) A 2-year loan with a 4.75% interest rate compounded annually. B) A 3-year loan with a 4.00% interest rate compounded annually. C) A 4-year loan with a 3.75% interest rate compounded annually. D) A 5-year loan with a 3.00% interest rate compounded annually.

Answers

Answer 1

formula used : [tex]\sf A = P(1 + \dfrac{r}{n})^{nt}[/tex]

============================

✔A) A 2-year loan with a 4.75% interest rate compounded annually.

[tex]\hookrightarrow \sf A = 10,000 (1 + \dfrac{4.75\%}{1})^{(1)(2)}[/tex]

[tex]\hookrightarrow \sf A = \$10,972.56[/tex]

interest : $10,972.56 - $10,000 = $972.56

B) A 3-year loan with a 4.00% interest rate compounded annually.

[tex]\hookrightarrow \sf A = 10,000 (1 + \dfrac{4.00\%}{1})^{(1)(3)}[/tex]

[tex]\hookrightarrow \sf A = \$11248.64[/tex]

interest : $11,248.64 - $10,000 = $1248.64

C) A 4-year loan with a 3.75% interest rate compounded annually.

[tex]\hookrightarrow \sf A = 10,000 (1 + \dfrac{3.75\%}{1})^{(1)(4)}[/tex]

[tex]\hookrightarrow \sf A = \$11586.50415[/tex]

interest : $11,586.50415 - $10,000 = $1586.5

D) A 5-year loan with a 3.00% interest rate compounded annually.

[tex]\hookrightarrow \sf A = 10,000 (1 + \dfrac{3.00\%}{1})^{(1)(5)}[/tex]

[tex]\hookrightarrow \sf A = \$ 11592.74074[/tex]

interest :  $11,592.74074 - $10,000 = $1592.74

Thus loan of 2-year loan with a 4.75% interest which is compounded annually will allow him to pay the least interest of only $972.56.

Answer 2

The least interest is 972.56 dollars. Then he has to select a 2-year loan with a 4.75% interest rate compounded annually.

What is compound interest?

Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.

We know that the formula for the amount will be

[tex]A = P (1 + r) ^t[/tex]

A = Amount

P = Loan amount

r = rate of interest

t = time

The interest is given as

Interest = A - P

Charles needs a $10,000 loan in order to buy a car.

A) A 2-year loan with a 4.75% interest rate compounded annually. Then the amount will be

[tex]\rm A = 10000(1.0475)^2\\\\A = 10972.56[/tex]

Then the interest will be

Interest = 10972.56 - 10000

Interest = 972.56

The amount of interest is $972.56.

B) A 3-year loan with a 4.00% interest rate compounded annually.  Then the amount will be

[tex]\rm A = 10000(1.04)^3\\\\A = 11248.64[/tex]

Then the interest will be

Interest = 11248.64 - 10000

Interest = 1248.64

The amount of interest is $1248.64.

C) A 4-year loan with a 3.75% interest rate compounded annually.  Then the amount will be

[tex]\rm A = 10000(1.0375)^4\\\\A = 11586.50[/tex]

Then the interest will be

Interest = 11586.50 - 10000

Interest = 1586.50

The amount of interest is $1586.50.

D) A 5-year loan with a 3.00% interest rate compounded annually. Then the amount will be

[tex]\rm A = 10000(1.03)^5\\\\A = 11592.74[/tex]

Then the interest will be

Interest = 11592.74 - 10000

Interest = 1592.74

The amount of interest is $1592.74.

More about the compound interest link is given below.

https://brainly.com/question/25857212


Related Questions

ILL GIVE BRAINLIEST TO THE CORRECT ANSER BUT ANSWER ASAP

Answers

Answer:

12 and 13

Step-by-step explanation:

I hope this helps! Have a lovely day!! :)

it would be between 12 and 13 as 12 squared is 144 and 13 squared is 169 and 151 falls between that

According to this line plot, 3 players on this team each had 15 strikeouts for a total of 45 strikeouts. How many strikeouts did this team have in one season?

Answers

Answer: 195

Step-by-step explanation: (3x15)+(5x16)+(2x17)+(2x18)=195

Tyrone read a book for his school project. On the first day, he read 40 pages. On the second day, he read 1 4 of the remaining pages. After the second day, he still had to read 1 2 of the total number of pages to complete the book. How many pages are there in the book?

Answers

Answer:

160

Step-by-step explanation:

he read 40 pages on the first day. he read 1/4 of the remaining pages, and still had 1/2 of the book to read. this means that 40 is about 1/4 and to find the total amount of pages, you have to multiply 40 by 4.

40 x 4 = 160

hope this helps :)

Answer:

70 pages. (If by 1 4 and 1 2, you mean fractions.)

Step-by-step explanation:

1/4 of 40 is 10. This is calculated by dividing 40 by 4, since the denominator in 1/4 is 4.

1/2 of 40 is 20. This is calculated by dividing 40 by 2, since the denominator in 1/2 is 2.

Add that together and that's 70.

Please Help I'll give brainiest!! (answer quick please!!!!)
1) Which statement is correct for the graph of the specified function?
A) The minimum value of the quadratic function occurs at x = 0.
B) The maximum value of the quadratic function occurs at y = 0.
C) The x-values of the linear function increase as the y-values decrease.
D) The x-values of the linear function decrease as the y-values increase.
------
2) Which statement is correct for the graph of the specified function?
A) The rate of change for the linear function is 2.
B) The rate of change for the linear function is −1.
C) The maximum value of the quadratic function occurs at y = 4.
D) The minimum value of the quadratic function occurs at x = 4.

Answers

Answer:

im pretty sure that the first one is C, but the other one i don't know

Answer:

Q: Which statement is correct for the graph of the specified function?

A: The x-values of the linear function increase as the y-values decrease.

Q: Which statement is correct for the graph of the specified function?

A: The maximum value of the quadratic function occurs at y = 4.

Step-by-step explanation: The minimum value of the quadratic function occurs at x = 0 is false because this quadratic does not have a minimum value. It has a maximum value when y=4. The true statement is that the x-values of the linear function increase (go up) as the y-values decrease (go down). Also i took the test

Find the perimeter of a triangle with sides lengths 8, 10, and 12.

36

14

15

30

Answers

Answer:

30

Step-by-step explanation:

Answer:

its 30

Thats my solving process , As its scalene triangle so use its formula

perimeter of triangle= a+b+c

Step-by-step explanation:

Let the sides lengths of the triangle be a, band c respectively

given ,

a= 8

b= 10

c = 12

To find : perimeter of the triangle = ?

We know ,

Perimeter of triangle = a+b+c

= 8+10+12

= 30 cm²

therefore, the perimeter of the given triangle is 30 cm ² .

There are 7 piles of papers on a desk. Each pile has the same number of papers. There are 21 papers in all on the desk. How many papers are in each pile?

Answers

Answer:

3

Step-by-step explanation:

7 x 3 = 21

7 + 7 = 14 + 7 = 21 :)

Answer:

3

Step-by-step explanation:

7*3=21

3*7=21

21/3=7

21/7=3

Every month, Jim makes $49 less than his best friend Keenan.
Let m represent the amount of money that Jim makes every month
and let d represent the amount of money that Keenan makes every
month.
Write an equation to represent the relationship between m and d.

Answers

Answer:

m+49=d ; d-49 = m

Step-by-step explanation:

Jim $ = m

Keenan $ = d

m+49=d ; d-49=m

btw please lmk if i get this wrong

Answer:

m + 49 ≥ d - 49

Explanation:

m + 49 is the money that Keenan makes.

d - 49 is the money Jim makes.

The smiley face has a radius of 8cm. What is the area of the smiley face?


16 sq. feet

50.24 sq. feet

128 sq. feet

200.96 sq. feet

Answers

Answer:

B.

Step-by-step explanation:

The smiley face has a radius of 8 centimeters.

We need to find the area of the smiley face.

The formula to find the area of a circle is:

A = [tex]\pi[/tex]r²

A = (3.14)(8)(2)

A = (25.12)(2)

A = 50.24

The area of the smiley face would be 50.24 square feet.

hope this helps :)

Hey hun!!!! I hope you’re having a great day!! the answer for this is c!

PLEASE HELP!
A triangular sign has a 45 degree angle angle and a 52 degree angle. Describe how you could find the 3rd angle of the sign

Answers

Answer:

83

Step-by-step explanation:

X + 52+45=180

X=180-97

So, x= 83


-note sorry for getting the question wrong it is now fixed.

Answer:

83

Step-by-step explanation:

triangles are 180º
45 + 52 = 97
180 - 97 = 83

Cliff really loves ice cream. He decided to make a list of all the possible combinations from these choices. Then he remembered that he could have all those choices on a cone or in a bowl. How many outcomes are there?

Bowl or Cone

Ice Cream: Chocolate, Vanilla, Strawberry

Toppings: Chocolate syrup, Caramel, Marshmallows

Answers

Answer:

uh

Step-by-step explanation:

You have to find how many different outcomes there are in all.

Bowl or Cone (2)

Ice Cream Flavors: Chocolate, Vanilla, and Strawberry (3)

Toppings: Chocolate syrup, Caramel, and Marshmallows (3)

(2)(3)(3) = 18

There are 18 different outcomes in all

There is 24 out comes of the ice cream

Below is a two-way table for a college basketball team during the NCAA playoffs. Complete the table. What is the value of each basket on average.

Answers

Answer:

64%

Step-by-step explanationI added total and points earned and divided 66/102 and I got 0.64. I moved my decimal 2 places to the right and got 64%

What is the volume of a hemisphere with a diameter of 7.6 m, rounded to the nearest tenth of a cubic meter?

Answers

Answer:

the volume of a hemisphere with a diameter of 7.6 m, rounded to the nearest tenth of a cubic meter is 919.4 cubic meter.

(20 POINTS PLS HELP!!)

Answers

Answer:

c

Step-by-step explanation:

there is an endpoint at A and the line continues on after g

Answer:

C)

Step-by-step explanation:

If the number line goes from one side to another, it is going from left to right (AKA, AG), and the number line already has an arrow going to the right, but none going to the left, so the arrow on top, has to also be facing the right.

hope this helps!

Please Help!!
What type of transformation happened from (x,y) --> (-x,y)?
-----
A.Rotation 90*
B.Reflection over the y-axis
C.Translation left 1
D.Reflection over the x-axis

Answers

Answer:

B

Step-by-step explanation:

This is a reflection over the y-axis. The x value is changing sign while the y value is staying the same. The general rule for a reflection over the y axis is  (x,y) --> (-x,y), and similarly for a reflection over the x axis is (x,y) --> (x,-y). When you reflect a point over an axis, you flip the sign of the opposite value.

the answer would be B

Ken, Leon, and Mark collect seashells as a hobby. Ken has (3x - 5) seashells, Leon has (2x + 1) seashells, and Mark has (0.25x + 7) seashells. a. Write an expression for the total number of seashells they collected. b. If the total number of seashells they collected is 45, determine the number of seashells each of them have.

Answers

Answer:

Ken, Leon, and Mark collect seashells as a hobby. Ken has (3x - 5) seashells, Leon has (2x +1) seashells, and Mark has (0.25x + 7) seashells. a. Write an expression for the total number of seashells they collected.

The answer:

Ken has 5 shells, Leon has 2 shells, Mark has 1.50 shells

how do we know:

because the 5 is negative we have -5 + -5=0 because negatives only go up by subtracting so 0+-5 is 5.

because the 1 is positive we can do 1+1 as were doing 2x1 so 1+1=2.

because we are doing 0.25x7 we need to know that we can flip the problem so we get 7x0.25. this makes things easy for you and me, we already know that 4 0.25's make 1 and we also know that 0.25+0.25 is 0.50 and 1 + 0.50 is 1.50 or just 1.5

hope this helps!

Solve rational Equation

Please Show Full Steps Please!


Answers

Answer:

x=1

Step-by-step

Step 1:

Simplify x/x2

Dividing exponential expressions :  

1.1    x1 divided by x2 = x(1 - 2) = x(-1) = 1/x1 = 1/

Equation at the end of step 1:

  2    1         1

 (((—+1)-—)-1)-((2•—)-1)  = 0

    x    x         x

STEP 2:Rewriting the whole as an Equivalent Fraction:

2.1   Subtracting a whole from a fraction

Rewrite the whole as a fraction using  x  as the denominator :

        1     1 • x

   1 =  —  =  —————

        1       x  

Equivalent fraction : The fraction thus generated looks different but has the same value as the whole

Common denominator : The equivalent fraction and the other fraction involved in the calculation share the same denominator

Adding fractions that have a common denominator :

2.2       Adding up the two equivalent fractions

Add the two equivalent fractions which now have a common denominator

Combine the numerators together, put the sum or difference over the common denominator then reduce to lowest terms if possible:

2 - (x)     2 - x

——— = ———  

   x          x  

Equation at the end of step 2:

2    1     (2-x)

 (((—+1)-—)-1)-—————  = 0

    x    x       x  

STEP 3:

Simplify 1/x

Equation at the end of step 3:

2          1           (2 - x)

 (((— +  1) -  —) -  1) -  ———————  = 0

    x          x              x  

STEP4:

Simplify: 2/x

Equation at the end of step 4:

    2          1                 (2 - x)

 (((— +  1) -  —) -  1) -  ———————  = 0

    x          x                      x  

STEP 5:

Rewriting the whole as an Equivalent Fraction :

5.1   Adding a whole to a fraction

Rewrite the whole as a fraction using  x  as the denominator :

        1         1 • x

   1 =  —  =  —————

        1            x  

Adding fractions that have a common denominator :

5.2       Adding up the two equivalent fractions

2 + x                x + 2

—————  =  —————

  x                       x  

Equation at the end of step 5:

(x + 2)    1                                (2 - x)

 ((——————— -  —) -  1) -  ———————  = 0

      x       x                                  x  

STEP 6:Adding fractions which have a common denominator :

Adding fractions which have a common denominator

Combine the numerators together, put the sum or difference over the common denominator then reduce to lowest terms if possible:

(x+2) - (1)                            x + 1

———————————  =  —————

     x                                       x

Equation at the end of step 6:

  (x + 1)                           (2 - x)

 (——————— -  1) -  ———————  = 0

     x                               x

STEP 7:

Rewriting the whole as an Equivalent Fraction :

7.1   Subtracting a whole from a fraction

Rewrite the whole as a fraction using  x  as the denominator :

        1     1 • x

   1 =  —  =  —————

        1       x  

Adding fractions that have a common denominator :

7.2       Adding up the two equivalent fractions

(x+1) - (x)                           1

———————————  =  —

     x                                   x

Equation at the end of step 7:

 1       (2 - x)

 — -  ———————  = 0

 x         x

STEP 8:

Adding fractions which have a common denominator :

8.1       Adding fractions which have a common denominator

Combine the numerators together, put the sum or difference over the common denominator then reduce to lowest terms if possible:

1 - ((2-x))                              x - 1

———————————  =  —————

     x                                     x    

Equation at the end of step 8:

 x - 1

 —————  = 0

   x  

STEP 9:

When a fraction equals zero :

9.1    When a fraction equals zero ...

Where a fraction equals zero, its numerator, the part which is above the fraction line, must equal zero.

Now,to get rid of the denominator, Tiger multiplys both sides of the equation by the denominator.

Here's how:

 x-1

 ——— • x = 0 • x

  x

Now, on the left hand side, the  x  cancels out the denominator, while, on the right hand side, zero times anything is still zero.

The equation now takes the shape :

  x-1  = 0

.2      Solve  :    x-1 = 0

Add  1  to both sides of the equation :

                     x = 1

One solution was found :

x = 1

   

Mr kepner recorded for the last 7 years the number of students in his classes who owned cell phones the mean of his data is 15 and the median is 18 which of the following statements is true?

Answers

Answer:

A

Step-by-step explanation:

Median means the number in the middle and if there is 7 numbers then one is in the middle which is 18 so at least one year he had 18 students who owned a phone.

(SEND HELP) 50 points!!

Answers

Answer:

A And D

Step-by-step explanation:

THOSE ARE THE CORRECT ANSWER.

Answer:

3units, 4units, 8 units and 12units, 6units, 4units. Aka A and D

Step-by-step explanation:

Jenny is studying the growth of a particular type of plant. She is testing the effects of three growth factors: lighting, age, and temperature. Here are the levels she's testing for each.
Growth factor Levels
Lighting Low, Medium, High, Very high
Age month, months, months, months, months
Temperature , , ,
She wants to find the number of ways of combining one level from each of the growth factors. How many ways are there?

Answers

Answer:

there are so many ways

Step-by-step explanation:

such as observing day by day and checking its height with a scale everyday etc

The number of ways of combining different growth factors to form a level is 80.

What is Permutation?

The act of organizing all the components of a set into some sequence or order is known as permutation. Permuting, in other words, is the act of reordering the components of a set that has previously been sorted.

A permutation is the selection of r items from a collection of n items without replacement, with the order of the items being significant.

nPr = (n!) / (n-r)!

What is a Combination?

The combination is a method of picking elements from a collection in which the order of selection is irrelevant (unlike permutations).

A combination is a selection of r items from a collection of n items with no replacements and no regard for order.

nCr = (n!)/{(r!)((n-r)!)}

How do we solve the given question?

We are given that Jenny is studying the growth of a particular type of plant. She is testing the effects of three growth factors: lighting, age, and temperature. Here are the levels she's testing for each.

Growth factor Levels

Lighting: Low, Medium, High, Very high.

Age: 1 month, 2 months, 3 months, 4 months, 5 months.

Temperature: 20°, 22°, 24°, 26°.

We are asked to find the number of ways in which she can combine different levels to form one level.

We first check the number of combinations for each factor and then multiply them all to get the total number of ways possible.

Lighting: 4 (∵ All the 4 levels are possible, so the combinations are 4P1 = 4).

Age: 5 (∵ All the 5 levels are possible, so the combinations are 5P1 = 5).

Temperature: 4 (∵ All the 4 levels are possible, so the combinations are 4P1 =4).

∴ Total number of ways of combining different growth factors to form a level = 4*5*4 = 80

∴ The number of ways of combining different growth factors to form a level is 80.

Learn more about permutations and combinations at

brainly.com/question/4658834

#SPJ2

Please help! As long as it is correct you will get brainliest!

Land developers are dividing a property into several sections to develop a new neighborhood, as shown below.


• Find the area, in square blocks, of the mall section of the property. Show all your work.



• Find the area, in square blocks, of the park section of the property. Show all your work.



• Find the total area, in square blocks, of the sections with homes. Show all your work.



• If the developers paid $500.00 per square block, how much did they pay for all the property being developed? Explain your answer.

Answers

Answer:

$97500.00

Step-by-step explanation:

the homes of the homes facing south is 10 times (7 plus 3) = 100 blocks

the area of the east facing homes is 8 times 10= 80 blocks

and the area of the trapezoid is 5 plus 3 times 3 = 15 blocks

so 100+80+15= 195 square blocks

195 times 500 = $97500.00

o Mr. Math S. Fun is looking for his missing pair of
socks. He had 8 pairs from the beginning. 1 red pair,
3 blue pairs, 4 green pairs. He uses 7 pairs last week

and he knows he has a pair of socks remaining. He
left clues on what he used each day last week, help
him which among his socks missing?

Answers

Answer:

1/3

Step-by-step explanation:

add all of the totals including the missing pair

we now have 24

7+1 is 8

24 minus 8 is 16

24 can be split into 2 groups of 8

and we have 2/3 left. which makes our solution 1/3

brainliest if its right

Answers

Answer:

14

Step-by-step explanation:

28=Diameter

Radius= D/2

=14

pls help im really bad at this stuff

Answers

Answer:

Student B

Step-by-step explanation:

Student B

Their wages increase at intervals of $6 each hour.

6*1 = $6

6*2 = $12

6*3 = $18

6*4 = $24

6*5 = $30

6*6 = $36

6*7 = $42

6*8 = $48

This shows a proportional relationship between the wages earned and the number of hours worked. 

Hope this helps!

Part B
Because when you say proportional way it means (corresponding in size or amount to something else).

Since in B the amount is increasing by 6, 12, 18 etc…..

0.6 ÷ 30 = (0.6 ÷ 3) ÷ 10 = 0.2 ÷ 10 =

Answers

Answer:

0.02

use BODMAS

bracketorderdivisionmultiplicationaddition subtraction

⇒ 0.6 ÷ 30

⇒ (0.6 ÷ 3) ÷ 10

⇒ 0.2 ÷ 10

⇒ 0.02

Let's see

0.6÷30

3×10=30

So

(0.6÷3)÷100.2÷10(0.2÷2)÷50.1÷50.02

Which represents a proportional relationship between y and x

Answers

Answer:

A proportional relationship between a quantity y and a quantity x that has a constant of proportionality k is represented by the equation y = kx.

Step-by-step explanation:

Jordan is chopping wood for the winter. For 10 days in a row, he follows the same process:
In the morning, he chops 20 pieces of wood, and in the evening, he chops an additional 30 pieces of wood.
After Jordan chopped all the wood, he sorted the wood into 5 equal-sized piles.
Which numerical expression shows the amount of wood that would go into each pile?

Answers

Answer:

100

Step-by-step explanation:

Answer:

(20x+30x)/5

Step-by-step explanation:

20*10+30*10/5

We can swap out the 10 for "x" the amount of days Jordan works.

what is ten to the power of three times ten to the power of four divided by ten to the power of five?

Answers

The answer should be 100 ………

Answer:

The answer would be 100

I have done this around a month ago and got it right at my school

need help!!! how do i do this

Answers

Answer:

A

Step-by-step explanation:

typ 2^0 in you calculator

Ages
The ages of 10 different students in a college math class were used to make the box plot shown above. Which of the sets of ages below matches the given box plot?
A.
Ages: 18, 19, 19, 20, 20, 20, 21, 22, 22, 26

B.
Ages: 18, 19, 20, 20, 20, 20, 21, 22, 22, 26

C.
Ages: 18, 19, 19, 20, 21, 21, 21, 22, 22, 26

D.
Ages: 18, 19, 19, 20, 20, 20, 21, 21, 22, 26

Answers


D.
Ages: 18, 19, 19, 20, 20, 20, 21, 21, 22, 26
I think the answer is D!

A storage container that is in the shape of a rectangular prism has a volume of 60 cubic feet. What could be the dimensions of the container if one dimension is 3 feet and all dimensions are whole units? Select all that apply.

(A) 3 feet by 4 feet by 5 feet

(B) 3 feet by 3 feet by 5 feet

(C) 3 feet by 5 feet by 6 feet

(D) 3 feet by 2 feet by 10 feet

(E) 3 feet by 2 feet by 15 feet

Answers

Answer:

it's A, 3 feet by 4 feet by 5 feet

Other Questions
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