Answer:
The correct answer is False
Step-by-step explanation:
I already took this test. I got it right.
Hope this helps! ;)
Arthur took out a 20 year loan for $60,000 at an APR of 4.4% compounded monthly. Approximately how munch would save if he paid it off 3 years early Apex A. $4516.32,B. $1129.08,C. $376.36,D.$877.96
Answer:
D. $877.96
Step-by-step explanation:
You want the amount saved if a 20 year loan of $60,000 at 4.4% is paid off 3 years early.
PaymentThe monthly payment on the loan can be found from ...
[tex]A=\dfrac{Pr}{12(1-(1+r/12)^{-12t})}[/tex]
where P is the loan amount at rate r for t years.
For the 20 year loan of $60,000 at 4.4%, the payment is calculated as ...
[tex]A=\dfrac{60000(.044)}{12(1-(1+0.044/12)^{-12\cdot20})}=\dfrac{220}{0.584549}=376.3585[/tex]
Balance dueAfter 204 payments on the loan, the remaining balance due is ...
[tex]A=P\left(1-\dfrac{(1+r/12)^n-1}{(1+r/12)^{12t}-1}\right)\\\\\\A=60000\left(1-\dfrac{1.0036667^{204}-1}{1.0036667^{240}-1}\right)=12671.04[/tex]
SavingsThe remaining 36 payments on the loan come to about ...
36 × 376.3585 ≈ 13548.91
So, the savings from early payoff is about ...
13548.91 -12671.04 ≈ 877.86
Choice D, $877.96, is the best match for this value.
__
Additional comment
The actual savings will depend on the details of rounding of intermediate values in the calculation, and on the timing of the early payment. If the loan is amortized over 17 years, so more is paid each month, the savings can be more than $5000.
Here, we have calculated the savings on the assumption that payment number 204 includes the payoff amount.
Using the loan formula, monthly payments are $458.14. Remaining balance after 17 years is approximately $58,214.19. The savings would be approximately $1,785.81. The closest option to this calculation is C. $376.36
To calculate the amount saved by paying off the loan 3 years early, we need to find out the remaining balance of the loan after 17 years (20 years - 3 years). Then, we compare the remaining balance to the original balance to find the savings.
Let's break down the steps:
1. Find the monthly interest rate (r):
[tex]\[ r = \frac{4.4\%}{12} = \frac{0.044}{12} \][/tex]
2. Calculate the total number of payments (n):
[tex]\[ n = 20 \times 12 = 240 \text{ months} \][/tex]
3. Use the formula for the monthly payment (PMT) of a loan:
[tex]\[ PMT = \frac{P \cdot r \cdot (1 + r)^n}{(1 + r)^n - 1} \][/tex]
where:
P = principal amount (loan amount)
r = monthly interest rate
n = total number of payments
We'll use PMT to find out the monthly payment Arthur has to make.
4. Use the monthly payment (PMT) to find the remaining balance after 17 years (204 months).
5. Finally, calculate the savings by comparing the remaining balance to the original loan amount.
Let's do the calculations:
1. Monthly interest rate:
[tex]\[ r = \frac{0.044}{12} = 0.00367 \][/tex]
2. Total number of payments:
[tex]\[ n = 20 \times 12 = 240 \text{ months} \][/tex]
3. Monthly payment (PMT):
[tex]\[ PMT = \frac{60000 \cdot 0.00367 \cdot (1 + 0.00367)^{240}}{(1 + 0.00367)^{240} - 1} \][/tex]
[tex]\[ PMT = \frac{60000 \cdot 0.00367 \cdot (1.00367)^{240}}{(1.00367)^{240} - 1} \][/tex]
[tex]\[ PMT = \frac{60000 \cdot 0.00367 \cdot 1.937}{1.937 - 1} \][/tex]
[tex]\[ PMT = \frac{429.33}{0.937} \][/tex]
[tex]\[ PMT= 458.14 \][/tex]
4. Remaining balance after 17 years (204 months):
[tex]\[ PV = \frac{PMT \cdot (1 - (1 + r)^{-n})}{r} \][/tex]
[tex]\[ PV = \frac{458.14 \cdot (1 - (1 + 0.00367)^{-204})}{0.00367} \][/tex]
[tex]\[ PV = \frac{458.14 \cdot (1 - 0.533)}{0.00367} \][/tex]
[tex]\[ PV = \frac{458.14 \cdot 0.467}{0.00367} \][/tex]
[tex]\[ PV = \frac{213.94}{0.00367} \][/tex]
[tex]\[ PV = 58214.19 \][/tex]
5. Savings:
Savings = 60000 - 58214.19
Savings ≈ 1785.81
So, Arthur would save approximately $1785.81 by paying off the loan 3 years early.
The closest option to this calculation is C. $376.36
A right rectangular prism is shown. What shape best describes the cross section cut perpendicular to the base of a right rectangular prism? Parallelogram Trapezoid Rectangle Square
Tripp and Rico are two dogs. Tripp weighs exactly 35 pounds more than Rico. Together, they weigh exactly 49 pounds. How much does each dog weigh? Please use Two-step equations!!!! plz, help!
Using a system of equations, it is found that Tripp weighs 42 pounds and Rico weighs 7 pounds.
What is a system of equations?A system of equations is when two or more variables are related, and equations are built to find the values of each variable.
In this problem, the variables are given as follows:
Variable x: Tripp's weight.Variable y: Rico's weight.Tripp weighs exactly 35 pounds more than Rico, hence:
x = 35 + y.
Together, they weigh exactly 49 pounds, hence:
x + y = 49
35 + y + y = 49
2y = 14 -> y = 7
x = 35 + y -> x = 42
Hence, Tripp weighs 42 pounds and Rico weighs 7 pounds.
To learn more about a system of equations, you can check https://brainly.com/question/24342899
Which equation could have been used to create this function table? 1 2,3 6,4 8,5 10, 10 20 A. y = 5x B. y = x + 1 C. y = x + 2 D. y = 2x
Try the first table value and see what you get from the various choices. For x = 1, the answer choices give you
... A: y = 5×1 = 5
... B: y = 1 + 1 = 2
... C: y = 1 + 2 = 3
... D: y = 2×1 = 2
Both B and D give the correct value (2), so we need to try another table entry. For x = 3 (the second table entry), the answer choices give you
... B: y = 3 + 1 = 4
... D: y = 2×3 = 6
Only selection D gives you the correct value (6). The appropriate choice is
... D. y = 2x
if a 9 inch pizza serves 4 people, how many people will a 12 inch pizza serve?
: Your experience indicates that offering a discount in your emails increases responses by 80%. Your last email, without a discount, got 23,000 responses. If you mail to the same size list and offer a discount, how many responses would you expect? a) 41,400 b) 44,000 c) 48,300 d) 52,400
The expected number of responses after offering a discount leads to an 80% increase from 23,000 is 41,400.
The student's question relates to predicting email response rates when a discount is offered. Since the history suggests an 80% increase in responses when a discount is included and the last email got 23,000 responses, we can expect:
Find the amount of increase in responses: 23,000 responses * 80% = 18,400 additional responses.Add the increase to the original number of responses: 23,000 responses + 18,400 added responses = 41,400 total expected responses.Thus, the answer is (a) 41,400 responses expected with a discount offer.
Use forward or backward substitute to conjecture a closed formula which describes the nth term of the sequence an = an-1 – n, where a0 = 4.
Create a box and whisker plot for the average daily temperatures in Tucson, Arizona, in December: 67, 57, 52, 51, 64, 58, 67, 58, 55, 59, 66, 50, 57, 62, 58, 50, 58, 50, 60, 63
Normal Distributions
I couldn't see the whole graph in the answer above, but using the quartiles, I chose graph A and that was right.
1. b. mean=75.8, median=76.5, mode=63
2. a. dots at 50, 53.5, 58, 62.5, and 67
3. c. 30th percentile=105, 90th percentile=176.
This is a controversial question because some of the numbers repeat, but as of 5/19, answer c is right.
4. d. mean=8, variance=18.3, standard deviation=4.3
5. a. 2
6. b. 22%
7. d. a^6-30d^5+375d^4-2,500d^3+9,375d^2-18,750d+15,625
8. a. 93%
9. b. 16%
10. c. 84%
The gpa at the super university has a normal distribution with a mean 2.29 and standard deviation 1.29 to be an honors student at this university your GPA has to be in the top 20% what is the smallest gpa you need to have to be an honors student?
simplify 3 square root of 2 minus square root of 2
Jean gets an allowance of $15 each month plus an extra $2 for each chore she completes around the house. How much allowance will she earn if she does x chores in a month?
a. 15x + 2 dollars
b. 2x dollars
c. 2x + 15 dollars
d. 17x + 15 dollars
Instructions.find the volume and surface area of the rectangular prisms
The minimum value of a function is the smallest y-value of the function. A. True B. False
If (2 − 3i) + (x + yi) = 6, what is x + yi? 4 + 3i 4 − 3i -4 − 3i -4 + 3i 4x + 3i
Find the length of the arc shown in red. Leave your answer in terms of x.
Determine b , given that A = 63°, C = 49°, and c = 3.
To find side b in the triangle, we use the fact that angles in a triangle sum up to 180° to find angle B, and then apply the Law of Sines to solve for b using angles B and C and side c.
To determine b in a triangle where angle A = 63°, angle C = 49°, and side c = 3, first, we need to find angle B using the fact that the sum of angles in a triangle is 180°. Therefore, B = 180° - A - C. Calculating this gives us B = 180° - 63° - 49° = 68°. Since angles A, B, and C are known, we can use the Law of Sines to find side b:
b/sin(B) = c/sin(C)
Rearranging this for b yields:
b = c * sin(B) / sin(C)
We substitute the known values to find b:
b = 3 * sin(68°) / sin(49°)
By solving this, we get the length of side b is 3.68
What is the domain of the function y= square root x?
Answer:
[0, ∞) or 0 ≤ x
Step-by-step explanation:
You want to know the domain of the function y = √x.
DomainThe domain of a function is the set of values of the independent variable for which the function is defined. The square root function is defined for all non-negative real numbers. So, ...
The domain of
y = √x
is all real numbers greater than or equal to zero.
0 ≤ x . . . . domain of y=√x
In interval notation, this is ...
[0, ∞) . . . . domain of y=√x
__
Additional comment
The inequality for the domain of y=√x can also be written as x ≥ 0.
It is sometimes useful to write the inequality with a left-pointing inequality symbol so the limit and the variable map directly to a region of the number line. Here, the limit (0) is at the left end of the ray on the number line that identifies the domain of x.
The "practical" domain of a function is the set of values the function may be expected to utilize in the real world. A function may be defined for all values of mass, for example, but is of no practical use for negative mass or values of mass greater than that of the known universe.
Final answer:
The domain of the function y = √x consists of all real numbers greater than or equal to 0. The function is non-differentiable only at x = 0. The restriction ensures that the square root is of a non-negative number, conforming to real-valued outputs.
Explanation:
The domain of a function is the set of all possible input values (x-values) for which the function is defined. Considering the function y = √x, the domain is all real numbers greater than or equal to 0 because we cannot take the square root of a negative number in the real number system. This ensures that the values under the square root are non-negative, allowing the function to produce real number outputs. When we consider functions like l(x) = x² √√x, we must also consider that while x² is defined for all real numbers, the part √√x restricts the domain since x must be greater than or equal to 0 for the function to be real-valued. Thus, the domain of l(x) is also limited to x values greater than or equal to 0.
When seeking nondifferentiable points within the domain, we look for values of x where the derivative of the function does not exist. For the function y = √x, all points in the domain are differentiable except at x = 0, where the function has a cusp and is, therefore, not differentiable.
To summarize, the domain of y = √x is all x ≥ 0, and with the function l(x), we are careful to include only those x-values where the square root and the entire expression are defined, which also turns out to be x ≥ 0.
"a fair coin is tossed 5 times. what is the probability of exactly 4 heads?"
What is value of M in the figure below?
Based on the right-angled triangle, the value of m is equal to: C. [tex]\sqrt{95}[/tex].
What is the geometric mean (leg) theorem?According to the geometric mean (leg) theorem, the length of the leg of a right-angled triangle is the geometric mean between its hypotenuse and the segment of the hypotenuse which is adjacent to that leg.
Mathematically, the geometric mean (leg) theorem can be modeled by the following formula;
Hypotenuse/leg = leg/part
where;
hypotenuse = 14 + 5 = 19
leg = m
part = 5
By applying geometric mean (leg) theorem, the length of the part (x) can be calculated as follows;
19/m = m/5
By cross-multiplying, we have the following:
[tex]m^2=19 \times 5\\\\m^2=95\\\\m=\sqrt{95}[/tex]
Read more on geometric mean here: brainly.com/question/26257841
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If the perimeter of a rectangle is 52 cm and the area is 165 square cm, then what are the dimensions of the rectangle?
Answer:
11 cm by 15 cm
Step-by-step explanation:
The perimeter is double the sum of length and width, so that sum is 26 cm. The area is the product of length and width, so you want to find two numbers whose product is 165 and whose sum is 26.
165 = 1·165 = 3·55 = 5·33 = 11·15
The numbers in the last factor pair total 26. These are the dimensions.
The dimensions are 11 cm by 15 cm.
which picture justifies wheather -3x(5-4)+3(x-6) is equivalent to -12x-6
Answer:
Your answer would be a. or the first problem.
Step-by-step explanation:
food costs are expected to rise 6% each month for the next year. Which series correctly depicts the cost (to the nearest cent) for the next three months if the current cost is $150 per month?
a. $150.00 + $159.00 + $168.00
b.$150.00 + $159.00 + $168.54
c.$159.00 + $168.00 + $177.00
d.$159.00 + $168.54 + $178.65
Answer:
the final answer is the last option, D
Step-by-step explanation:
can someone help me 3y-20=8y
9=7x-13x-21 show step by step
Identify the function in which Y varies directly with X
Cynthia invests some money in a bank which pays 5% compound interest per year. She wants it to be worth over £8000 after 3 years. What is the smallest amount, to the nearest pound, she can invest?
Simple steps please ?
the median of the values in a data set is y. if 48 were subtracted from each of the values in the data set what would be the median of the resulting data
Answer: Y-48
If the median of the values in the data set is Y, it means that Y is the value in the middle of the data set. If 48 will be deducted from each of all values in the data set including Y, then the median of the resulting value will be Y-48.
housing prices in a certain neighborhood average at 97.86 per square foot. If one house in this neighborhood is 1400 square feet, what should it be priced at?
An executive invests $22,000, some at 8% and the rest at 6% annual interest. If he receives an annual return of $1,660, how much is invested at each rate?
In a tournament team A won 7 less games than Team B, and Team B won exactly three times as many games as team C. If If Team C won g games, how many games did Team A win?
Team A won 3g - 7 games, where g is the number of games won by Team C. To determine the number of games Team A won, multiply the number of games Team C won by 3 and subtract 7.
Let's denote Team C's number of wins as g. According to the information provided, Team B won three times as many games as Team C, which can be expressed as 3g. It is also stated that Team A won 7 fewer games than Team B. So, if Team B won 3g games, then Team A won 3g - 7 games.
To find the number of games Team A won, simply multiply the number of games Team C won by 3 and subtract 7 from that total. This can be represented by the algebraic expression A = 3g - 7, where A represents the number of games won by Team A and g represents the number of games won by Team C.