To pay for a home improvement project that totals $11,000, Genesis is choosing between taking out a simple interest bank loan at 6% for 3 years or paying with a credit card that compounds monthly at an annual rate of 16% for 6 years. Which plan would give Genesis the lowest monthly payment?

The monthly credit card payment would be $396.49, which is lower than the monthly payment on the bank loan.
The monthly payment on a bank loan would be $360.56, which is lower than the monthly credit card payment.
The monthly credit card payment would be $354.44, which is lower than the monthly payment on the bank loan.
The monthly payment on a bank loan would be $323.89, which is lower than the monthly credit card payment.

Answers

Answer 1

The monthly payment on a bank loan would be $360.56, which is lower than the monthly credit card payment.

What is the monthly payment under simple interest?

The total interest on the simple interest basis can be determined as the cost of the home improvement multiplied by the annual simple interest rate and also multiplied by the number of years

I=PRT

I=interest for 3 years=unknown

P=principal=$11,000

R=simple interest rate=6%

T=number of years=3

I=$11000*6%*3

I=$1980

There are 12 months multiplied by 3 years

monthly payment=($11,000+$1,980)/(3*12)

monthly payment=$360.56

Monthly compounding option:

PV=PMT*(1-(1+r)^-N/r

PV=loan amount=$11,000

PMT=monthly payment=unknown

r=monthly interest rate=16%/12=0.0133333333333333

N=number of monthly payments in 6 years=12*6=72

$11,000=PMT*(1-(1+0.0133333333333333)^-72/0.0133333333333333

PMT=$238.61

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Related Questions

A company invests $12,000 to produce a product that will sell for $49.60. Each unit costs $7:45 to produce. (a) How many units must the company sell to break even? units (b) How many units must the company sell to make a profit of $115,0002 units

Answers

Answer:

Step-by-step explanation:

a=number of products

product profit=49,60-7,45=42,15

115000+1200=42,15xa

127000=42,15xa

a=3013

How long will it take
you to
drive 135 miles at a speed of
45 miles per hour?

Answers

Answer: It takes 3 hours to drive 135 miles at a speed of 45 miles per hour.

Step-by-step explanation:

Define Time and Distance and Speed:

The length of distance traveled is proportional to the time taken to cover the distance, and we can represent this relationship as

      DistanceTime          (Eq. 1)

The speed of any object is directly proportional to the distance traveled and inversely proportional to the time taken.

Speed Distance  (Eq.2)

Speed∝1/Time     (Eq.3)

Then, we can represent each parameter through the following equations:

Speed =Distance/Time

Distance=Speed × Time

Time =Distance/Speed

We can write:

Distance covered by driving:  d=135 miles

Driving speed:  s=45 mph

Recall the formula for the relationship of time, distance, and speed.

Time =Distance/Speed

Substitute d=135 and s=45 into the above formula, and simplify.

t=d/s

t=135/45

t=3 hours

Thus, it takes 3 hours to drive 135 miles at a speed of 45 miles per hour.

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Help pleaseeeeeeeeee

Answers

Answer:

y2 = m*(x2 - x1) + y1

Step-by-step explanation:

m = (y2 - y1) / (x2 - x1)

y2 - y1 = m*(x2 - x1)

y2 = m*(x2 - x1) + y1

Solve the proportion.
4/5= y/7 what is y

Answers

Answer: Exact Form: 28/5

Step-by-step explanation:

Answer:

y = 28/5

Step-by-step explanation:

Let's solve the problem,

→ 4/5 = y/7

→ y = 7 × (4/5)

→ [ y = 28/5 ]

Hence, the value is 28/5.

Determine if there is an outlier in the given data. if yes, please state the value(s) that are considered outliers. 43,44,25,13,47,34,9,53,25,41,9,54,31,6

Answers

There is an upper outlier and lower outlier that is 86.875 and -26.875.

An outlier is an observation that lies an abnormal distance from other values in a random sample from a population. In a sense, this definition leaves it up to the analyst (or a consensus process) to decide what will be considered abnormal. Before abnormal observations can be singled out, it is necessary to characterize normal observations.

Descriptive statistics

data=n=14

 

mean= 30.29

sample standard deviation= 18.35

sample variance = 336.84

minimum= 1

maximum= 52

range=  51

 

1st quartile

16.25 = median

37.50 = 2nd Quartile.

3rd quartile = 44.50

4th interquartile range = 28.25

mode = 3.00

Lower limit for outlier = Q1-1.5*IQR =16.25-1.5*28.25 =-26.125

Upper limit for outlier = Q3+1.5*IQR =44.50+1.5*28.25 =86.875

All the data points inside the limits.

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Why is 3x1/10 less than 3x10 I need help ASAP
A the value of 1 ten is less than the value of 1 tenth
B the value of 1 tenth is less than the value of 3 tenths
C The value of 1 ten is less than the value of 3 tens
D The value of 1 tenth is less than the value of 1 ten

Answers

Answer:

The value of 1 tenth is less than the value of 1 ten

Step-by-step explanation:

1 tenth = 0.1
1 ten = 10

0.1 is way less than 10 so that is why 3 x 1/10 is less than 3 x 10. Even though the 3 is the same, 1/10 is less than 10 so that is why 3 x 1/10 has less value.

Solve for x.
(x+40)°
(3x-17)
(2x-5)

Answers

Answer:

x = 27

Step-by-step explanation:

All angles in a triangle add up to 180 degrees

180 = (3x - 17) + (x + 40) + (2x - 5)

Combine like terms.

180 = 6x + 18

Subtract 18 from both sides.

162 = 6x

Divide both sides by 6.

x = 27

2, 4, 8, 16, 32, 64, ... The number 4,096 belongs to this sequence. What is the number that immediately precedes it?​

Answers

8,192 because the next number in the sequence is found by being multiplied by 2. 2*2=4…4*2=8

Roman earns $8.50 an hour as an intern at law firm. Usually he works 30 hours a week. This week however, there is a big case and he worked 47 hours. What is his gross pay for this week? (Standard overtime rules.)

Answers

The gross pay for this week after working overtime is $471.75.

What is the overtime pay rule?

The civil overtime vittles are contained in the Fair Labor norms Act,  Unless pure, workers covered by the Act must admit overtime pay for hours worked over 40 in a workweek at a rate not lower than time, and That's an illustration of total pay for a hand who worked 42 hours in a workweek Regular pay rate x 40 hours = Regular pay, plus. Regular pay rate x1.5 x 2 hours = Overtime pay, equals.

Usual earning Earning = $8.5 for 30 hours for a week

Overtime = 47 hours-30 =17 hours

Overtime rate = $8.5 + $8.5/2 = $ 12.75 for hour for a week

Gross pay= ($8.5*30)+($12.75*17)

      = 255 + 216.75

       = 471.75.

The gross pay for this week after working overtime is $471.75.

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How do I find the slope

Answers

Answer:

y=4x-1

Step-by-step explanation:

to find the slope you use this equation

(y2-y1) / (x2-x1)

you also need y=mx+b to write in your final equation for the slope,

m is the slope and b is the y intercept (where the point meets the y axis, horizontal line that goes like this | )

first, you got lucky this equation gave you the b value( remember, b is the y intercept) , which you can find when x is 0.

to find the slope we choose any two coordinates (x,y) from the table

i choose (0,-1) and (5,19)

and we put this in this formula

(y2-y1) /

(x2-x1)

(19+1) it’s plus because subtracting a negative - - makes it positive

so

(19+1)/

(5-0)

= 20/5 which is 4. so m( the slope) m=4

now that we have b=-1 and m=4 we can write the final answer equation

which is

y=4x-1

1. Simplify. Show all steps for full credit. Circle your final answer. (4 points).
(4+1)^3/ 2+4^2-13

Answers

Answer: 25

Step-by-step explanation:

(4+1)^3/ 2+4^2-13=

5^3/(2+16-13) =

125/(18-13)=

125/5=25

The result of dividing 107 by 10^-3 is?10-4. 102.5. 1010. 104.

Answers

The result of diving 107 by 10⁻³ is (E) 107,000.

What do we mean by division?The division is one of the four basic operations of arithmetic, which are the methods by which numbers are combined to form new numbers. Addition, subtraction, and multiplication are the other operations.At the most basic level, the division of two natural numbers is the process of calculating the number of times one number is contained within another. For example, if 20 apples are distributed evenly among four people, each receives five apples (see picture).

So, we know that 10⁻³ is 0.001.

Now, 107/0.001 = 107,000.

Therefore, the result of diving 107 by 10⁻³ is (E) 107,000.

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The correct question is given below:

The result of dividing 107 by 10^-3 is?

a. 10-4.

b. 102.5.

c. 1010.

d. 104.

e. 107,000

Solve 7x2 - 2x = −3
Please

Answers

Pretty sure it’s the second answer

Answer:

I think the answer to this question is the last multiple choice answer

Step-by-step explanation:

a runner wants to run 11.7 kmkm . her running pace is 8.1 mi/hrmi/hr . how many minutes must she run?

Answers

The runner should run for roughly around 54 minutes.

What do we mean by conversion factors?A conversion factor is an amount that is used to multiply or divide one set of units into another. When converting to an equal value, the appropriate conversion factor must be used. To convert inches to feet, for example, the suitable conversion value is 12 inches equal to 1 foot.

To find how many minutes must the runner run:

1 mile = 1.6 kmSo, 8.1 miles = 1.6 km

Minutes required are:

11.7 × 60 / 8.1 × 1.6 = 54.16

Therefore, the runner should run for roughly around 54 minutes.

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How many cubes with side lengths of 1/4 cm does it take to fill the prism?
2 cm
7/4 cm
1 cm

Answers

Numbers of cubes are  224

We have been given that

side length of cubes is = 1 /4 cm

dimension of prism are

2 cm

7/4 cm

1 cm

Each cube with side lengths of 1/4 have a volume of (1/4)3 . To find how many cubes are needed to fill the prism.

Prism: A glass or other transparent object in prism form, especially one that is triangular with refracting surfaces at an acute angle with each other and that separates white light into a spectrum of colors.

To compute the prism volume in the given dimensions (cm³) and the cube volume in the same dimensions, then find the number of cube volumes in the prism volume.

Prism volume = l×w×h

Cube volume = (side)³

than Prism volume =(2×7/4×1)cm

                               = (3.5)cm

and cube volume = (1/4)³cm

                            = (1/64)cm

Then the number of cubes that will fit in the prism is ...

(Prism volume)/(cube volume)

(3.5)/(1/64)cm= 224 cubes

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Without simplifying the expression, determine weather [tex]\frac{1}{50}[/tex] - [tex]\frac{1}{51}[/tex] is a positive or a negative number.

Answers

1/50 - 1/51 will be a positive number because 1/50 is greater than 1/51 :)

what is equivalent to -28x2 + 35x?

Answers

(35x) + (-56) this is an equivalent equation.

Answer:

7x(-4x+5)

Multiplying: -56+35x

Step-by-step explanation:

[tex]\mathrm{Factor\:assuming\:x\ge-\\\infty}\\\:a^{b+c}=a^ba^c\\x^2 = xx\\-28xx+35x\\-7 \times 4xx + 7 \times 5x\\=7x\left(-4x+5\right)[/tex]

The only reason I had to assume x was any negative number was so that the absolute value did not matter in this instance, therefore making x become a negative number.

The other result, however, came from this:

[tex]-28\cdot \:2=-56\\=-56+35x[/tex]

Inform me of any concerns. Hope this helps.

Please help due soon.

Answers

Answer:

Step-by-step explanation:

Answer:D

Step-by-step explanation:

What is 5 x x I don’t know the answer please give me it!

Answers

Answer:

5i is an imaginary number and it's square is - 25.

by definition zero is considered to be both real and imaginary.

Step-by-step explanation:

#studywell #workhard #worksmart

the width of a rectangular garden is x-meter and it's length is & more than it's width
Find the (a)areas, (b)perimeter.

pa help po need po now​

Answers

Answer:

 A.  width = x - 4.5

 B.  111 = 2(x + (x -4.5))

Step-by-step explanation:

A. The width is 4.5 meters shorter than x, so is x -4.5.

__

B. The perimeter is twice the sum of length and width. It is 111 meters, so an equation for it could be ...

 111 = 2(x + (x -4.5))

What is 3458 rounded to the nearest thousand

Answers

Answer:

3000

Step-by-step explanation:

If it was 3500 then it would've been 4000. However, since 3458 is below 3500 it's 3000. Hope this helps. Good luck!

Answer: 3,000

Reasoning: 1, 2, 3, & 4 always round down, while 5, 6, 7, 8, & 9 always round up. Since 3,458 has a 4, it will round down to 3,000.

What is 4x4....................................................

Answers

Answer:

16

Step-by-step explanation:

16 wich is also 4+4+4+4

a mini bottle of water contains 8 ounces of water you need 4 1/4 gallons of water how many mini water bottles do you need

Answers

The number of mini bottles required is;  68 mini bottles

How to convert units of measurement?

We are told that a mini bottle of water contains 8 ounces of water.

Now, we are told that you require 4¹/₄ = 4.25gallons of water.

Now from conversions, we know that;

1 gallon = 128 ounces

Thus; 4.25 gallons = 4.25 * 128 = 544 ounces

Since a mini bottle of water contains 8 ounces of water, then we can say that;

Number of mini bottles required is;

544/8 = 68 mini bottles

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Lashonda is participating in a 4 day cross-country biking challenge. she biked for 50,51,63 and miles on the first three days. how many miles does she need to bike on the last day so that her average (mean) is 54 miles per day?

Answers

Lashonda biked for 50,51, and 63 miles on the first three days, to make average 54 miles per she needs to bike 52 miles on the last day.

As given,

Lashonda biked for first three days = 50, 51, 63 miles

Let x miles she bike last day

Average = 54 miles per day

Average = (50 + 51 + 63 + x) /4

⇒ 54 = (164 + x) /4

⇒ x = 216-164

⇒ x= 52 miles

Therefore, Lashonda needs to bike 52miles last day to make average 54miles per day.

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PLEASE PLEASE ANSWER QUICK
What is the domain of the relation?

Answers

The first one {x|x€R}

13. Which function includes the data set below?
{(2, -2), (6, 10), (13, 31)) (Lesson 2-1)
A. f(x)=2x-3
B. f(x) = -2x + 2
C. f(x) = 3x8
D. f(x) = 4x 10.
-

Answers

Answer:

C. 3x-8

Step-by-step explanation:

To solve this, we put the x values into the functions and calculate the y values.

A

y = (1/2)x - 3

test for (2, -2)

-2 = 1/2 × 2 - 3 = 1 - 3 = -2 correct

test for (6, 10)

10 = 1/2 × 6 - 3 = 3 - 3 = 0 wrong

so, A cannot be right.

B

y = -2x + 2

test for (2, -2)

-2 = -2×2 + 2 = -4 + 2 = -2 correct

test for (6, 10)

10 = -2×6 + 2 = -12 + 2 = -10 wrong

so, B cannot be right.

C

y = 3x - 8

test for (2, -2)

-2 = 3×2 - 8 = 6 - 8 = -2 correct

test for (6, 10)

10 = 3×6 - 8 = 18 - 8 = 10 correct

test for (13, 31)

31 = 3×13 - 8 = 39 - 8 = 31 correct

so, C is a right answer.

D

y = 4x - 10

test for (2, -2)

-2 = 4×2 - 10 = 8 - 10 = -2 correct

test for (6, 10)

10 = 4×6 - 10 = 24 - 10 = 14 wrong

so, D cannot be right.

I hope this helped! Have a good day! :D

Use cross products to solve the proportion.

StartFraction 4 over 3 EndFraction = StartFraction x over 12 EndFraction

1. Use cross products: (4)(12) = 3x

2. Multiply: 48 = 3x

3. Divide both sides by 3:
= x
drawing.

Answers

According to the cross product, The value of x in the expression becomes 16.

According to the statement

We have to find that the value of the expression.

So, For this purpose, we know that the

Cross product is a binary operation on two vectors in three-dimensional space.

From the given information:

The expression is a

StartFraction 4 over 3 EndFraction = StartFraction x over 12 EndFraction

IN simple words, it becomes:

4/3 = x/12

Then we have to find the value of the x then

4/3 = x/12

Now cross multiply each other then

4 =3x/12

3x = 48

Then

x = 48/3

x = 16.

So, According to the cross product, The value of x in the expression becomes 16.

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A water tank discharges at the rate of 80 L/min. How long would it take to
discharge 4800 L?

Answers

Step-by-step explanation:

so, 80 L can get out of the tank every minute.

how long for 4800 L ?

that simply means "how many minutes for 4800 L ?"

and this we get by dividing 4800 by 80 (to see how often 80 fits into 4800) :

4800 / 80 = 60 minutes

so, it takes 60 minutes or 1 hour to discharge 4800 L.

Identify the name of the picture

Answers

Answer:

A blank one

Step-by-step explanation:

There's no picture

Answer:

Sussy

Step-by-step explanation:

1. There is nothing

2. Imposters are barely visible.

3. Your welcome

Thomas has a bag with 7 green marbles, 5 blue marbles, and 4 red marbles. For each part below, if the marble selected is replaced before the next marble is drawn, find the probability for the given draw :
A red marble?
A red or a green marble?
An Orange marble?

Answers

Using it's concept, the probabilities are given as follows:
A. 1/4.B. 11/16.C. 0.What is a probability?A probability is given by the number of desired outcomes divided by the number of total outcomes.In this problem, the number of marbles is given by:7 + 5 + 4 = 16.Then:For item a, 4 are red, hence the probability is 4/16 = 1/4.For item b, 4 are red and 7 are green, hence the probability is 11/16.For item c, there are no orange marbles, hence the probability is of 0.

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