suppose that phil had decided to take out a private loan for $9,000 where loan payments start as soon as the loan amount is deposited in his student account and continue for 10 years.the interest rate is 8.1% what is the total amount he will pay back?

Answers

Answer 1

The total amount he will pay back=$16290

Step-by-step explanation:

Given, Phil had decided to take out a private loan for $9,000 where loan payment start as soon as the loan amount is deposited in his student account for 10 year. The interest rate is 8.1% .

P =$ 9,000   r = 8.1%   and t = 10 years

Simple interest

Interest(I)  [tex]= \frac{P\times r \times t}{100}[/tex]

                 [tex]=\$\frac{9000\times 8.1 \times 10}{100}[/tex]

                 [tex]=\$ 7290[/tex]

The total amount he will pay back =$(7290 + 9,000)=$16290

                   

Answer 2

Final answer:

To calculate the total amount Phil will pay back on a $9,000 private loan with 8.1% interest over 10 years, multiply the principal by (1 + interest rate) raised to the number of years. The total amount paid back is $17,925.56.

Explanation:

To calculate the total amount Phil will pay back, we need to calculate the loan payments for 10 years. First, we can calculate the annual payment using the formula:

Annual Payment = Principal x (1 + Interest Rate)^Number of Years

Substituting in the values Principal = $9,000, Interest Rate = 8.1% (or 0.081), and Number of Years = 10, we have:

Annual Payment = $9,000 x (1 + 0.081)^10 = $9,000 x 1.991729 = $17,925.56

Therefore, the total amount Phil will pay back over 10 years is $17,925.56.


Related Questions

Write a system of equations to describe the situation below, solve using any method, and fill in the blanks.
The student council at Princeton High School is making T-shirts to sell for a fundraiser, at a price of $11 apiece. The costs, meanwhile, are $9 per shirt, plus a setup fee of $140. Selling a certain number of shirts will allow the student council to cover their costs. How many shirts must be sold? What will the costs be?
Selling shirts will cover the $ in costs.

Answers

Final answer:

To cover costs, the student council needs to sell 70 T-shirts, which will cover the $770 in costs.

Explanation:

To solve the student council's problem, we need to find the number of T-shirts that must be sold so that the total revenue equals or exceeds the costs associated with making the T-shirts. Let's define x as the number of T-shirts to be sold. The total revenue from selling the T-shirts at $11 apiece can be represented as 11x. The costs consist of a setup fee of $140 and $9 per shirt, so the total cost is 9x + 140. To determine when the revenue will cover the costs, we can set up the following equation:

11x = 9x + 140

Solving this equation for x, we subtract 9x from both sides:

2x = 140

Then divide both sides by 2:

x = 70

Therefore, the student council needs to sell 70 T-shirts to cover their costs, which will be $770 ($11 per shirt multiplied by 70 shirts).

Mary has 15 points with the total value of $1.75 if the coins are nickels and quarters how many of each kind are there

Answers

Answer:

The number of nickel coins is 10 and the number of quarter coins is 5

Step-by-step explanation:

The correct question is

Mary has 15 coins with the total value of $1.75 if the coins are nickels and quarters how many of each kind are there

Let

x ----> the number of nickel coins

y ----> the number of quarter coins

Remember that

[tex]1\ nickel=\$0.05[/tex]

[tex]1\ quarter=\$0.25[/tex]

we know that

Mary has 15 coins

so

[tex]x+y=15[/tex] -----> equation A

The total value of the coins is $1.75

so

[tex]0.05x+0.25y=1.75[/tex] ----> equation B

Solve the system by graphing

Remember that the solution is the intersection point both graphs

using a graphing tool

The solution is the point (10,5)

therefore

The number of nickel coins is 10 and the number of quarter coins is 5

A cylindrical jar's lid has a radius of 4 inches. If the volume is 351.68 in , approximately what is the height of the jar?

Answers

Answer:

7 inches

Step-by-step explanation:

The volume of a cylinder is calculated using

[tex]V = \pi {r}^{2}h[/tex]

where r =4 inches is the radius and V=351.68 is the volume.

To find the height of the jar, we substitute these values and solve for h.

[tex]351.68 = 3.14 \times {4}^{2} \times h[/tex]

[tex]351.68 = 50.24h[/tex]

Divide both sides by 50.24 to get:

[tex]h = \frac{351.68}{50.24} [/tex]

h=7 inches

Therefore the height of the jar is 7 inches

How many times does 5 go into 236

Answers

Answer:

47.2

Step-by-step explanation:

236/5

47.5

Answer:

47.2

Step-by-step explanation:

Because,

= 236/5

= 47.2

Therefore, 47.2 tines 5 goes into 236.

Della Ahkta has a whole life policy for $50,000. She pays an annual premium rate of $13.47 per
$1,000. When she signed her insurance contract she chose to use the annual dividend to reduce the
annual premium. When she gets a notice that her insurance premium is due, she is notified that her
policy has paid an annual dividend of $27.94. What amount will Della need to send the insurance
company to pay the balance due on the annual premium?

Answers

Answer:

645.56

Step-by-step explanation:

50000/1000 13.37=673.50

673.50

-27.94

-4/3x-3=1/3x+3/4 solve for X

Answers

Answer:

-9/4

Step-by-step explanation:

-4/3x-3=1/3x+3/4

-4/3x-1/3x-3=3/4

-5/3x=3/4+3

-5/3x=3/4+12/4

-5/3x=15/4

x=(15/4)/(-5/3)

x=(15/4)(-3/5)

x=-45/20

simplify

x=-9/4

There are 180 calories in 3 scoops of vanilla ice cream. How many calories are in 7 scoops.

Answers

Answer:

420 calories

Step-by-step explanation:

180 / 3 = 60 calories

60 x 7 =420 calories

What is the final amount if 943 is decreased by 13% followed by a further 6% decrease?
Give your answer rounded to 2 DP.

Answers

Final answer:

The final amount after a 13% decrease followed by a further 6% decrease from 943, rounded to two decimal places, is 771.19.

Explanation:

To calculate the final amount after sequential percentage decreases, you first apply the initial percentage decrease to the original amount, then apply the second percentage decrease to the new, lower amount.

Here’s how you can do it step by step:

Calculate the first decrease of 13%: 943 × 0.13 = 122.59Subtract the first decrease from the original amount: 943 - 122.59 = 820.41Calculate the second decrease of 6% on the new amount: 820.41 × 0.06 = 49.2246Subtract the second decrease from the new amount: 820.41 - 49.2246 = 771.1854

The calculator answer is 771.1854, but since we want the answer rounded to two decimal places, we must look at the third decimal place. Since the digit in the thousandths place (5) is greater than or equal to 5, we round up giving us a final answer of 771.19.

Ava’s aquarium is 95% filled with water. The tank holds 1,120 gallons of water. Which is the remaining number of gallons of water needed to fill the aquarium to the top?

Answers

Answer:

The aquarium needs 56 more gallons to be completely filled.

Step-by-step explanation:

To get the amount remaining you have to first divide 1120 by 100

1120/100=11.2

Then multiply it by 95

11.2*95=1064

You take the maximum amount (1120) and subtract the amount in the tank (1064) to get the amount left.

1120-1064= 56

With 56 gallons as your final answer.

What is 7 3/8 + 3 1/4?

Answers

Answer:

10 5/8

Step-by-step explanation:

1/4 = 2/ 8

7 3/8 + 3 1/4 = 7 3/8 + 3 2/8

7 3/8 + 3 2/8 = 10 5/8

Answer:

10.675

Step-by-step explanation:

HELPPP....PLEASE...........

Answers

Answer:

9 1/3, 12 1/2, 14 3/4

Step-by-step explanation:

I assume the formula you’re working with is A=b*h since nothing says otherwise...

((Patio 1))

So you have your area (147) and your base (15 3/4), now you need to plug them in, which should look like this:

147= 15 3/4*h

You need to isolate your h in order to get the missing number, so you should divide both sides by 15 3/4 OR 63/4 ((15*3—>60+3=63))

Dividing by a fraction is the equivalent of multiplying by its reciprocal... so

147 * 4/63 = 588/63 which can be simplified to 84/9 once both the numerator and denominator are divided by 7

In mixed number for it is 9 3/9 which simplified becomes 9 1/3

You solve the other similarly

Population in Millions
World: 7,691
Canada: 37.4
What percent of the 2019 world population lives in Canada? Round the percentage to three decimal places.

Answers

Answer:

0.486% of world population lives in Canada.

Step-by-step explanation:

Given: World Population= 7691 million.

           Canada Population= 37.4 million.

Now, finding the percentage of world population lives in Canada.

[tex]Population\ percentage= \frac{Canada\ population}{World\ population} \times 100[/tex]

⇒ [tex]Population\ percentage= \frac{37.4}{7691} \times 100[/tex]

⇒ [tex]Population\ percentage= 0.00486\times 100[/tex]

∴ [tex]Population\ percentage= 0.486\%[/tex]

Hence, 0.486% of world population lives in Canada.

erin makes $18 an hour. she works 40 hours a week. she found an apartment for $1,000 a month. Should erin rent the apartment?​

Answers

Answer:

Based on her monthly income YES

Step-by-step explanation:

18 × 4 = $720 a week and 720 × 4 = $2,880 a month

The rent for the apartment is $1,000 if Erin rent this place she will have an extra =1,880 for her living expenses after she pays for the rent so there would be no problem of her renting the place.

find the area of the shape shown below​

Answers

Answer: 42 units squared

Step-by-step explanation:

3x7=21

3x7=21 divided by 2 = 10.5 + 10.5 = 21 so,

21+21=42

Hope it helps

Answer:

34.5 units^2

Step-by-step explanation:

The square is A = bh.

A = 7 * 3 = 24.

The triangle is A = 0.5bh.

A = 0.5 * 7 * 3 = 0.5 * 21 = 10.5.

24 + 10.5 = 34.5 units^2.

Sam invests $6000 in an account that pays interest of 4.5% per year.
a) How much interest would he earn each year?
b) How much would he have in his account at the end of the first year?​

Answers

He would earn an interest of $270 each year and at the end of the first year he would have $6270 in his account.

Step-by-step explanation:

Step 1: Given details are Principal Amount (P) = $6000, Rate of Interest (R) = 4.5% and time (T) = 1 yearStep 2: Calculate simple interest by using the formula SI = PRT/100

⇒ SI = 6000 × 4.5 × 1/100

⇒ SI = 60 × 4.5 = $270

Step 3: Calculate the amount he would receive at the end of an year by using the formula, A = P + SI

⇒ A = 6000 + 270

⇒ A = $6270

The sum of four and three multiplied by the quotient of four and two

Answers

Answer:

14

Step-by-step explanation:

4+3=7

4/2=2

7•2=14

Evaluate the function. F(x)=3/x-1/. F(-3)

Answers

f(-3)=3/(-3)-1 || f(-3)=3/3 || f(-3)=1

Mary took out a student loan for $15000 at 4% simple interest. How much interest will she pay in 10 years? suppose she paid it off in 8 years instead of 10 years. how much would she save in interest?

Answers

Answer:$1200

Step-by-step explanation:

You are on your way to work. You drive 3.9 miles to a gas station and buy gas. Your workplace is 1.39 miles from the gas station. What is the distance of your commute to​ work?
Your commute is
( ?????) Miles.

Answers

Answer:

Approx. 5.3 miles

Step-by-step explanation:

Two people bought a 13-inch sandwich to share. How many inches of sandwich does each person get if they split it evenly? Choose the correct answer from the choices below.

Answers

Answer:

6.5

Step-by-step explanation:

13/2 = 6.5 inches or 6 1/2 inches

Answer:

6 2/4ths

Step-by-step explanation:

Twenty-four hundredth in decimal notation

Answers

Answer:

  0.24

Step-by-step explanation:

Twenty-four hundredths = 24/100 = 24×(1/100) = 24×0.01 = 0.24

_____

Both 24/100 and 0.24 are pronounced "twenty-four hundredths."

Answer:

0.24

Step-by-step explanation:

If you say hundredths with ths it means that the number is at the right side the decimal point. so that means twenty four hundredths is at the right side of the decimal point so the answer will be 0.24 hundredths.

perimeter of a triangle formula

Answers

all you have to do is just add up all the sides to find the perimeter

Side 1 + side 2 + side 3 = perimeter

Step-by-step explanation:

You add all three side lengths

VERY VERY VERY VERY VERY URGENT!!?!!???


These triangles are similar.
True
False

Answers

Answer:

True

Step-by-step explanation:

The minor arc measures of circle Z are shown in the figure.
Circle Z is shown. Radii Z Y, Z X, Z W, Z V, Z U, and Z T are shown. The arc measure of Y X is 71 degrees, the arc measure of X W is 32 degrees, the arc measure of W V is 71 degrees, the arc measure of V U is 78 degrees, the arc measure of U T is 54 degrees, and the arc measure of T Y is 54 degrees.
Use the drop-down menus to complete each statement.

Answers

Answer:

Part 1) Option a. TZY

Part 2) Option c. YZX

Step-by-step explanation:

The question is as following and see the attached figure

The minor arc measures of circle Z are shown in the figure.

Use the drop-down menus to complete each statement.

1) Angle UZT is congruent to angle _____

2) Angle VZW is congruent to angle____

Answer choices

1) a. TZY, b. XZW, c. VZW

2) a. UZV, b. TZY, c. YZX

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

Solution:

Part 1) Angle UZT is congruent to angle______

From the attached figure, we can deduce that:

∠UZT = 54°

∠TZY = 54°

So,

∠TZY = ∠UZT ⇒ both angles are congruent.

1. Angle UZT is congruent to angle TZY

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

Part 2) Angle VZW is congruent to angle_____

From the attached figure, we can deduce that:

∠VZW = 71°

∠YZX = 71°

So,

∠YZX = ∠VZW ⇒ both angles are congruent

2. Angle VZW is congruent to angle YZX

Answer: correct answer is TZY for first one and YZX for second

Step-by-step explanation:

Just chose those and got it correct :)

Can you divide a number with a fraction

Answers

Answer:

yes

Step-by-step explanation:

yesAnswer:

yes you can

Step-by-step explanation:

if its a number put it as a fraction put a one number the number your divining and divide and if it's a improper fraction turn in into a mixed number :)

Marco buys a certain brand of shampoo from a supplier at 7.25 dollars per bottle .He sells it at a markup of 25 percent. What is the markup .

Answers

Final answer:

Marco buys shampoo at $7.25 per bottle and sells it with a 25% markup, making the markup $1.81 per bottle. The selling price, therefore, is $9.06 per bottle.

Explanation:

The question is about calculating the markup applied by Marco on a bottle of shampoo. Marco buys the shampoo at $7.25 per bottle and sells it at a markup of 25 percent. The markup is calculated based on the cost price of the product. In this case, to find the markup amount, we use the formula: Markup = Cost Price * Markup Percentage. So, the markup on each bottle of shampoo is $7.25 * 0.25 = $1.81. Therefore, Marco applies a $1.81 markup on each bottle of shampoo.

To determine the selling price, one can add the markup to the cost price, which would be $7.25 + $1.81 = $9.06. This is Marco's selling price per bottle after applying the 25 percent markup.

I am interested in a new van that costs $32,500. The salesman says he will give it to me for $27,950. What is the percent discount he is giving me?

Answers

Answer:

The salesman is giving you a 14% discount

Step-by-step explanation:

Do 27950/32500 to get 0.86

Then do 1-0.86=0.14

Multiply by 100 to get 14%

Hope this helped!

14% would be the percent discount given to you

Tia owns a fruit shop and is selling a fresh lot of apples and oranges. She wants the ratio of apples to oranges sold to be 4 to 2. Tia
wants to sell a total of 54 apples and oranges. How many apples should she sell?
A.
52 apples
B. 36 apples
C. 9 apples
D. 32 apples

Answers

Answer:

[tex]\large \boxed{\text{B. 36 apples}}[/tex]

Step-by-step explanation:

Let a = the number of apples

and o = the number of oranges

You have two conditions:

[tex]\begin{array}{lrcl}(1) & \dfrac{a}{o} & = & \dfrac{4}{2} \\\\(2) & a+ o & = & 54\\\end{array}[/tex]

Solve the equations for a

[tex]\begin{array}{rcll}2a & = & 4o & \text{Multiplied each side of (1) by 2o}\\\(3) \,2a - 4o& = & 0 &\text{Subtracted 4o from each side}\\a + o & = & 54& \text{This is equation (2)}\\(4) \, 4a +4o& = &216&\text{Multiplied each side by 4} \\6a& = &216&\text{Added (3) and (4)} \\a & = &\mathbf{36}&\text{Divided each side by 6} \\\end{array}\\\text{Tia should sell $\large \boxed{\textbf{36 apples}}$}[/tex]

If a polynomial function f(x) has roots 4 - 131 and 5, what must be a factor of f(x)?

Answers

Answer:

(x - 4), (x + 131), and (x - 5) must all be factors of f(x).

Step-by-step explanation:

if the interior angle ofa regular polygon is 162° how many sides does it have

Answers

Answer:

20 sides.

Step-by-step explanation:

The exterior angle = 180 - 162 = 18 degrees.

Since the sum of the exterior angles = 360 degrees the number of sides

= 360 / 18

= 20 sides.

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