kostas gets a four year bank loan to buy a new car that is priced at 20,987. after four years Kostas Will have paid the bank it’s total of $22,960. what interest rate did the bank give him if the interest was compounded monthly. Show your work .

Answers

Answer 1

Answer:

r = 2.04%

Step-by-step explanation:

r = n{(A/P)^1/nt - 1}

Where,

r = interest rate = ?

n = number of periods = 12

A = future value = $22,960

P = present value = $20,960

t = time = 4 years

r = n{(A/P)^1/nt - 1}

r = 12{(22,960/20,987)^1/12*4 - 1}

= 12{(1.09)^1/48 - 1}

= 12{(1.09)^0.02 - 1}

= 12 (1.0017 - 1)

= 12(0.0017)

= 0.0204

r = 0.0204 × 100

= 2.04%

r = 2.04%


Related Questions

Find the value of x.
Area of rectangle = 36
▅ х
x + 5

Answers

The value of x is 4, which is determined by the quadratic equation.

What is the area of the rectangle?

The area of a rectangle is defined as the product of the length and width.

The rectangle of a rectangle = L × W

Where W is the width of the rectangle  and L is the length of the rectangle

We have been given that area of the rectangle = 36

Area of rectangle = width of the rectangle × length of the rectangle

Here the width of the rectangle = x

And length of the rectangle = x + 5

The rectangle of a rectangle = x × (x + 5)

36 = x² + 5x

x² + 5x - 36 = 0

x² + 9x - 4x - 36 = 0

(x + 9)(x - 4) = 0

x = -9 and x = 4

Take the value of x = 4 and the negative value is neglected because the dimension can't be negative.

Therefore, the value of x is 4.

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Solve x2 = −169. Thank youuuuuuuuuuu

Answers

Answer:

x=-84.5

Step-by-step explanation:

Which of the following is a rational number?
v1, v2, v3, v5

Answers

Answer:

5

Step-by-step explanation:

can you use a square to tile a floor?

Answers

Answer:

Uh, what is the square made out of? A square tile, then, sure, I guess.

Find the value of x, Need help--- test tomorrow!!!!
The answer is 14.
I need to show the equations.

THANK YOU

Answers

(4x + 2) + (2x + 4) =90 is the equation

assume that a varies directly as b. when the value of a is 5 the value of b is 18. when the value of a is 22 what is the value of b?

Answers

Answer:

The value of b when a is 22 is 79 1/5

Step-by-step explanation:

a varies directly as b

Let k be the constant of proportionality;

then;

a = kb

5 = k * 18

k = 5/18

Finding the value of b, when a is 22

22 = 5/18 * b

5b = 18 * 22

b = (18 * 22)/5 = 79 1/5

product of two integers is -175 and if one of the integers is 7 then what is the other integer

Answers

Answer:

The other integer is -25

Which equation represents the line that passes through the points (–4, 3) and (2, –12)?

–9x + 2y = 42

x + 2y = 2

5x + 2y = –14

2x + 5y = 7

Answers

Answer:

5x + 2y = –14

Step-by-step explanation:

Graph the points and find the equation from there.

Answer:

the answer is 5x + 2y = –14 their right

Step-by-step explanation:

HELP!! 20 POINTS

What type(s) of symmetry does this figure have?

rotational symmetry only

point symmetry only

no symmetry

both point and rotational symmetry

Answers

Answer:

rotational symmetry only

Rotational symmetry only, it looks like the original shape 3 times when rotated 360 degrees

Zahmiere and Brayden are playing basketball. Yesterday, Zahmiere made 3 shots in 5 attempts, while Brayden made 4 shots in 6 attempts. If they continue at those rates, who will make more shots in 30 attempts? Plsss answer fast!!!!! Plssssss

Answers

Answer:

i think the answer would be Brayden

Step-by-step explanation:

What is the value of r for 19 and 20?

Answers

Answer:

19.) r = -4    20.) r = 1

Step-by-step explanation:

19.) Because we know the slope and have some points, we can use point-slope form to find the equation.

Point-slope form is:

y - y1 = m(x - x1)

Substitute the numbers into the equation:

y - 3 = 7/6(x - 1)

y - 3 = 7/6x -7/6

y = 7/6x + 11/6

Now that we know the equation, we can put in the x value to find the y (In this case, y = r):

r = 7/6(-5) + 11/6

r = -35/6 + 11/6

r = -4

20.) Because the slope is undefined, that means on the graph, the line will appear straight and vertical. This means the equation will be something like x = a number.

We have the point (1,4). Since we know that the x value will never change, we know that r will have to equal 1 as well.

r = 1

Find the value of x
3x + 40
5x - 45

Answers

3x + 40 = 5x - 45

2x = 85

x = 42.5

Answer:

<HOPE IT WILL HELP YOU >

Step-by-step explanation:

3x + 40

3x+40=0

3x= -- 40

x= -- 40/3

5x--45

5x--45=0

5x= 45

x =45/5

x = 9

Surveyors wished to know the distance across a lake between A and B. They measured the distance from B to C as 100 m and the angle from C to A to be 55°. Knowing that the angle between CB and BA was 90°, they used trig to solve for the distance. Show how it was done

Answers

Answer:

AB ≈ 70m

Step-by-step explanation:

Check the attachment for the diagram.

You can see from the diagram that it is a right angled triangle with opposite side AB and adjacent side BC. Using SOH, CAH, TOA trig identity to get the length of AB. According to TOA;

tan 35° = opposite/adjacent

tan 35° = AB/BC

tan 35° = AB/100

AB = 100tan35°

AB = 100 * 0.7002

AB = 70.02m

Hence the distance across a lake between A and B is approximately 70m

(1) 5 years ago a man's age was 5 times the age of his daughter's. 3 years hence, twice
his
age will be equal to 6 times his daughter's age. Find their present ages.​

Answers

Answer: Daughter = 13,   Man = 45

Step-by-step explanation:

                     Today           5 yrs ago          3 years hence (future)

Man                    x                  x - 5                     x + 3

Daughter           y                  y - 5                      y + 3

5 years ago a man's age was 5 times the age of his daughter's

EQ1:  x - 5 = 5(y - 5)    →     x - 5 = 5y - 25        →      x - 5y = -20

3 years hence, twice the man's age will be equal to 6 times his daughter's age.

EQ2: 2(x + 3) = 6(y + 3)     →    2x + 6 = 6y + 18      →     2x - 6y = 12

Solve the system of equations using the Elimination method:

EQ1:  x - 5y = -20  →  -2(x - 5y = -20)   →   -2x + 10y = 40

EQ2: 2x - 6y = 12  →    1(2x - 6y = 12)   →    2x -  6y = 12  

                                                                             4y =  52

                                                                           ÷4     ÷4  

                                                                              y =  13

Substitute y = 13 into either equation to solve for x:

EQ1: x - 5y = -20

       x         = 5y - 20

       x         = 5(13) - 20

       x         =  65   - 20

              x = 45

7.RP.
A supermarket is having a sale on canned foods. The sale includes 10 cans to beans for
$12.50. What is the unit price per can of beans?

Answers

Answer:

1.25

Step-by-step explanation:

because you do 12.5 and divide by 10 and it equals 1.25

What is the slope of the line on the graph?
THANKS TO WHOEVER HELPS

Answers

Answer:

m = -2

Step-by-step explanation:

The points I will be using are (-3, 6) and (0,0).

To find the slope, you sub these points into the slope formula - rise over run.

Answer:

The slope is -2

Step-by-step explanation:

to get from (0,0) to (-3,6) you rise 6 and go left 3. Then 6÷-3= -2.

Please HELPPP 9 mins left!!!

Answers

Answer: 8°

Step-by-step explanation:

57+90=147

147+4x+1= 180

147+1= 148

148+4x=180

180-148=32

32/4=8

x=8°

Hey, can you please help me with this? thanks btw :)

Answers

28.27 is the area of the circle with a diameter of 6

Answer:

Step-by-step explanation:

Area of Circle: πr²

Diameter = radius * 2

Diameter = 3 * 2 = 6

Plug into the formula πr²

(3)²π ≈ 28.274 or 9π

I REALLY NEED HELPPPPP!! Write a paragraph proof for the following conjecture:

Given: m∠ 1 + m∠ 2 = m∠ 4

Prove: m∠3 + m∠1 + m∠2 = 180

Answers

Answer:

Given: measure 1 + measure 2 = measure 4

measure 4 + measure 3 must be 180 degrees because they are supplementary

If measure 4 + measure 3 is 180, and measure 1 + measure 2 = measure 4, we can substitute measure 4 in the first equation for measure 1 + measure 2.

Therefore, we arrive at the answer measure 1 + measure 2 + measure 3 = 180.

I really hoped this helped, and if it did, please consider giving me brainliest.

what's -5/1 + (-5/3)​

Answers

Answer:

Fraction = -20/3 = -18 2/3Decimal = −6.66666666667

Step-by-step explanation:

Just times the -5/1 by 3 on both sides and then

add both of the fraction numbers so you can get =

-20/3 in improper fraction or -18 2/3 in mixed number form

or the decimal = −6.66666666667 I hope this helps you, have a great day!

Hope this helps! <3

Levi bought 14 chicken wings for $22.40 how much would it cost for 12 wings

Answers

Answer:

x =19.20

Step-by-step explanation:

We can use ratios to solve

14 wings      12 wings

------------- = ---------------

22.40          x

Using cross products

14x = 22.40 * 12

14x =268.8

Divide each side by 14

14x/14 = 268.8/14

x =19.20

Which of the following statements BEST proves that ∠XWY ≌ ∠ZYW?

A.
If two parallel lines are cut by a transversal, then corresponding angles are congruent.

B.
If two parallel lines are cut by a transversal, then complementary angles are congruent.

C.
If two parallel lines are cut by a transversal, then alternate interior angles are congruent.

D.
If two parallel lines are cut by a transversal, then alternate exterior angles are congruent.

Answers

Answer: C

Step-by-step explanation:

The pair of angles created on the inner side of the parallel lines intersected by a transversal but on opposing sides of the transversal is known as an alternative interior angle. The correct option is C.

What are Alternate Interior angles?

When two parallel lines are intersected by a transversal, the pair of angles created on the inner side of the parallel lines but on opposing sides of the transversal is known as an alternative interior angle. These angles are always equal in measure.

The best statements BEST that proves ∠XWY ≌ ∠ZYW is that If two parallel lines are cut by a transversal, then alternate interior angles are congruent.

Hence, the correct option is C.

The complete question is mentioned in the image below.

Learn more about Alternate Interior Angles here:

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x>-4
Examine the inequality and its graph.
6 5 4 -3 -2 -1 0 1 2
Which values are part of the solution set? Check all
that apply.
O x= 3
x= -5
OX=--
1
2
x= -4.5
x= -4

Answers

Answer:

A and C

Step-by-step explanation:

did assignment on edge

UGENT PLZ HELP FAST​

Answers

The correct answer is A and D!

Select all of the zeros of the function f(x)=(3x−4)(x+2).

(I NEED TO SHOW MY WORK SO PLEASE SHOW HOW YOU GOT THE ANWSER)
Select all that apply:
4

2

43

− 43

− 2

− 4

Answers

Answer:

The zeros of the function are x = 4/3 or x = -2

Step-by-step explanation:

To find the zeros of the function, we set f(x) to zero

Thus;

(3x-4)(x + 2) = 0

3x - 4 = 0

or x + 2 = 0

3x = 4 or x = -2

x = 4/3 or x = -2

5 × 100 + 4 × 10 + 2 + ( 3 × 1⁄10 ) + ( 6 × 1⁄100 ) + ( 9 × 1⁄1000 ) Write as a numeral

Answers

Answer:

542.369

Step-by-step explanation:

Its the steps of writing it this is super easy also you can do the math to check if you want

Necesito la gráfica lineal de esto porfa

Y= 3x -2

Answers

Answer:

La respuesta es x=2/3

Step-by-step explanation:

Remplasa Y por un 0. Y luego conviertelo en -3x=2. A ultimo divide lod dos adas por -3. Tu respuesta es x=2/3

In the table, x represents minutes, and y represents the altitude of an airplane.

Altitude of an Airplane
Minutes, x
Altitude in feet, y
15
22,500
20
20,000
25
17,500
30
15,000

Which statement is correct about the slope of the linear function that the table represents?

Answers

Answer:

100% d

Step-by-step explanation:

Answer:d

Step-by-step explanation:

a right triangle contains 35° angle. if the length of the shorter leg is 12. what is the length of the other leg?​

Answers

Answer:

22

Step-by-step explanation:

Which of the following tables of values represent ordered pairs for the function f(x) = 2x – 1?
PLEASE HURRY 10 POINTS

A.
x 3 6 9 12
f(x) 6 12 18 24
B.
x 2 4 6 8
f(x) 5 9 13 17
C.
x 1 2 3 4
f(x) 1 3 13 17
D.
x 0 4 8 12
f(x) -1 7 15 23

Answers

Answer:

D

Step-by-step explanation:

x 0,4,8,12

f(x)‒1,7,15,23

we can prove as the following

f(x)=2x‒1

‒1=2(0)‒1

‒1=0‒1

‒1=‒1

f(x)=2x‒1

7=2(4)‒1

7=8‒1

7=7

f(x)=2x‒1

15=2(8)‒1

15=16‒1

15=15

f(x)=2x‒1

23=2(12)‒1

23=24‒1

23=23

i wish it helps you

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