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June 26, 2019 / By Nichola
Question: 1. An account earns 3% interest compound annually. The balance after 4 years is \$1125.51. What is the principle? 2. The principle on a home mortgage is \$150,000. The monthly payment is \$1025.75 and the term is 30 years. How much interest is paid on the loan? 3. A loan summary is shown. How much interest is paid on the loan? Loan Amount ------------- \$1660.00 Monthly Payment ------- \$286.43 Annual Interest Rate --- 12% Term ------------------------- 6 months

Lyndi | 10 days ago
This one is fast and a common sense answer. The total interest is just over 12% at the end of the term and the number is 12.551% over \$1000.00 The proper way is to divide the 1125.51 by 1.03 and keep doing it 4 times, but you could also use common sense and start with 1000 and multiply it by 1.03 to get the final value. Addition, subtraction, multiplication? 1025.75x360-150000? 219270 looks good. The interest rate, that is way too much, isn't required. You're paying \$500. because you will have paid \$2160 in 6 months.
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We found more questions related to the topic: Addition homework year 1000

Originally Answered: Pedro spent 2 1/5 hours on his math homework and half as long on his science homework one weekend. If his English & Social studies homework?
I'm thinking it goes this way . . . math = 2 1/5 hours science = 1/2 of 2 1/5 = 1 1/10 English & Social Studies = 7/8 of 2 1/5 = 7/8 * 11/5 = 77/40 total time studying = 2 1/5 + 1 1/10 + 77/40 = 3 + 8/40 + 4/40 + 77/40 = 3 + 89/40 = 3 + 2 + 9/40 = 5 9/40 hours 9/40 hours = 9/40 * 60 minutes = 13.5 minutes total time studying (if I interpreted the question correctly): 5 hours 13 minutes 30 seconds (or 5 9/40 hours) ;)
Originally Answered: Pedro spent 2 1/5 hours on his math homework and half as long on his science homework one weekend. If his English & Social studies homework?
"English and Social Studies took ⅞ as long" ⅞ as long as what? ⅞ as long as his math homework, or ⅞ as long as math and science combined?

Kaylin
1. The original principle is P. (((1.03P)1.03)1.03)1.03 = 1125.51 ((1.03P)1.03)1.03 = 1092.728 (1.03P)1.03 = 1060.9011 1.03P = 1030.001 P = 1000 2. Not enough information: no interest rate 3. After the first month, a 1% interest applies, then you pay 286.43, leaving you with 1390.17 to pay off. There then applies another 1% interest, and you pay another 286.43. On the first month, you pay \$16.6 interest. On the second month, you pay \$13.9 interest. Continue the pattern until you have no more to pay off.
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Originally Answered: Hi i need help with one math question for my sisters math homework?
a=2(M+L) the total carrots marios harvest will be M for Mario's carrots the total carrots Lamont harvest will be L for Lamont's carrots So the total amount of carrots mario and lamont harvest is (M+L) Since augusto harvests 2 times as many as the total of Mario and lamont he harvests 2(M+L) If we say Augusto harvests "A" Carrots then the equation is A=2(M+L)

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