The total amount paid on a 35 year loan was $98,000. If the interest rate was 4.1% and compounded monthly, what was the principal? Round your answer to the nearest cent.

Answers

Answer 1

Answer:

The principal amount was $23,393.45

Step-by-step explanation:

The total amount paid on a 35 year loan was $98,000 at the rate of interest 4.1%

We will calculate Principal amount by this formula

[tex]A=P(1+\frac{r}{n})^{nt}[/tex]

Where A = amount (98,000)

           P = Principal amount (P)

           r = rate of interest 4.1% (0.041)

           n = number of compounding interest monthly (12)

           t = time (35 years)

[tex]98,000=P(1+\frac{0.041}{12})^{(12)(35)}[/tex]

[tex]98,000=P(1+0.003416)^{(420)}[/tex]

[tex]98,000=P(1.003416)^{(420)}[/tex]

98,000 = P(4.189386)

= 4.189386P = 98,000

P = [tex]\frac{98000}{4.189386}[/tex]

P = 23,392.4494 ≈ $23,392.45

The principal amount was $23,393.45

Answer 2

Answer:

$23,392

Step-by-step explanation:

Use the compound interest formula and substitute the values given: $98,000=P(1+.041/12)[tex]^{12(35)}[/tex]

Simplify using order of operations:

$98,000=P(1.003416667)[tex]^{420}[/tex]

P=$98,000(1.003416667)[tex]^{420}[/tex]

P≈$23,392


Related Questions

Help me please :) I don’t wanna fail

Answers

Answer:

12

there are 6 combinations with sausage and 6 with red sauce and its asking how much outcomes include sausage so you add the two together and get 12

Solve the inequality 3k > 5k+12

Answers

Alright, let's solve this problem! :)

First we need to subtract 5k from both sides.

3k−5k>12

Then we simplify 3k - 5k to -2k.

-2k > 12

Now we divide both sides by -2.

k < -12/2

Now we simplify 12/2 to 6.  

k < -6

✔️Done!

Have an amazing day!

Solve for X: |3x + 12| =18

Answers

Answer:

2

Step-by-step explanation:

3x+12=18

subtract 12

    3x=6

divide by 3

      x=2

Answer:

x = 2, -10

Step-by-step explanation:

3x + 12 = 18

-3x - 12 = 18

3x = 6

-3x = 30

x = 2

x = -10

Joe has read 140 pages of his 300 page book what percent of the book has he read

Answers

Answer:

He has read 46.66 %

Step-by-step explanation:

Lets find the percentage

total pages are 300 and he has read 140

So

140/300 = 0.4666

Converting this into percentage again

We will multiply the decimal by 100

0.4666 x 100 = 46.66 %

A latter leans agains the side of a house.The top of the ladder is 24ft from the ground. The bottom of the lAdder is 7ft from the side of the house. Find the length of the ladder.

Answers

Answer:

25 feet

Step-by-step explanation:

You can superimpose a triangle in this situation.  The height from the ground to the top of the ladder along the wall is one leg of the triangle, the distance the ladder is from the wall is the other leg, and the length of the ladder is the hypotenuse.  

Use Pythagorean theorem to solve, which is a² + b² = c² where a, and b are the legs, and c is the hypotenuse...

We have

7² + 24² = c²

   49 + 576 = c²

       625 = c²

        25 = c          

*Tecnhically the answer is ±25, but it's a length, so we disregard the negative answer.

What is the slope of the line show below?

Answers

Algebra form: y1 - y2, and x1 - x2.

( 2 - 1 ) ( 6 - 3 ).

= 1/3.

slope = 1/3.

While taking inventory at her bakery, Ruby noticed that she had 5⁄6 pound of cinnamon yesterday, but now had only 2⁄3 pound. How much more cinnamon did Ruby have yesterday?

Answers

Answer:

1/6 of a pound

Step-by-step explanation:

Multiply both the numerator and denominator for a common denominator.

2/3 * 2/2 = 4/6.

Then subtract to find out how much more she had yesterday.

5/6-4/6=1/6.

1/6 pound

Match the denominator

2/3 = 4/6

Subtract

5/6 - 4/6 = 1/6

Which statement above is true about the value of x

Answers

♫ - - - - - - - - - - - - - - - ~Hello There!~ - - - - - - - - - - - - - - - ♫

Angles in a triangle equal 180 degrees

180 - (38 + 39) = 103

Angles on a straight line equal 180 degrees

180 - 103 = 77

The correct statement would be the first one as x is greater than 38

Hope This Helps You!

Good Luck (:

Have A Great Day ^-^

↬ ʜᴀɴɴᴀʜ

Find the geometric mean of 12 and 27. Write

Answers

Answer:

The geometric mean is 18

Step-by-step explanation:

To find the geometric mean of two numbers, start by multiplying them together.

12 * 27 = 324

Now take the square root of that number

√324 = 18

What property is illustrated in the equation? 7 + 1/2 = 1/2 + 7

Answers

Communicative

Hope this helps!

96 fluid ounces is bigger or smaller than 13 cups?

Answers

Answer:

1 Cup = 8 Fluid Ounces

Therefore 13 cups = 13*8 = 104 Fuid Ounces

So 96 Fluid Ounces is LESS THAN 13 cups.

Step-by-step explanation:

What is the exact volume of the figure?

Answers

Answer: 890.12 cm^3

Step-by-step explanation:

The formula for the volume of a cylinder is

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

V=628.3185307 cm^3

or simply

V=628.32 cm^3

Since, you know the radius of the hemisphere on top, you also know the radius since the height of the hemisphere is the same as it is wide.

Next, the formula for the volume of a sphere is

[tex]V=\frac{4}{3} \pi *r^3[/tex]

so the volume of a hemisphere is half of that or:

[tex]V=\frac{2}{3} *\pi *r^3[/tex]

V= 261.7993878 cm^3

or simply

V=261.80 cm^3

Finally, you add both of the volumes together to get

V= 890.1179185 cm^3

or simply

V=890.12 cm^3

PLEASE HELP 15 POINTS 63m - 42 =

Answers

Answer:

9m - 6

Step-by-step explanation:

I don't know if you want it to be factored or simplified, but the greatest common factor is 7 so you can use that that so simplify the equation. Or you can substitute values for x.  

may somebody help me please and thank you.

Answers

Answer:

C. Both (1,11) and (-1,-5)

Step-by-step explanation:

Plug in the x and y coordinates into the equation and see if the values hold true.

Test (1,11):

11=8(1)+3

11=8+3

11=11

TRUE

Test (-1,-5):

-5=8(-1)+3

-5=(-8)+3

-5=-5

TRUE

C. Both (1,11) and (-1,-5)

which model best fits this set of data ?

HINT: graph the data to determine the best fit

------------
x : -4 -2 2 4
------------
y : -2 1 -2 3
------------

a. quadratic model
b. cubic model
c. linear model

Answers

Final answer:

The best model for the given data is likely a quadratic model because the y values increase then decrease and then increase again, a typical pattern of a quadratic model.

Explanation:

To determine which model best fits the given set of data: (-4,-2), (-2,1), (2,-2), (4,3), we need to examine the relationship between the x and y values. Based on the given data, there is not a consistent increase or decrease, which suggests that the best model is not linear.

Quadratic model and cubic model can also be tested as they can capture complex patterns, which makes them a good fit for data that has peaks and valleys, such as our data set.

Upon examining the data, we realize there is a pattern where the value of y increases, then decreases, then increases again which is typically of a quadratic model. Therefore, the best fit for this data set is most likely a quadratic model.

Learn more about Quadratic Model here:

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a farmer grew x pounds of rice last year. This year, she grew 8% more rice than she grew last year. which expression represent the number of pounds of rice that the farmer grew this year?

Answers

Answer:108%*x

Step-by-step explanation: 100%+8%=108% so it is 108%*x

Final answer:

The expression representing the amount of rice the farmer grew this year is 1.08x, which includes the initial amount plus an additional 8% increase.

Explanation:

If a farmer grew x pounds of rice last year, and this year she grew 8% more rice than she grew last year, the number of pounds of rice she grew this year can be represented by an algebraic expression. To calculate an increase of 8%, we multiply the original amount (x) by 8% (or 0.08) and then add it to the original amount. The expression representing the total weight of rice grown this year is:

x + 0.08x

Or, combining like terms to simplify:

1.08x

This expression takes into account the original production and adds the additional 8% increase in rice production for this year.

Please answer quickly

Answers

Answer:

f(x)⁻¹ = 3x/(2 - x)

Step-by-step explanation:

Find the inverse of f(x) = 2x/(x+3)

The first step is to let f(x) = y

y = 2x/(x+3)

Then make x the subject of the formula

y = 2x/(x+3)

y(x + 3) = 2x

yx + 3y = 2x

yx - 2x = -3y

x(y - 2) = -3y

x = -3y/(y - 2)

∴ f(x)⁻¹ = -3x/(x - 2)

Dividing both numerator and denominator by -1;

f(x)⁻¹ = 3x/(2 - x)

       

What is the distance between -13 and 13 on a number line

Answers

Answer:

26 units

Step-by-step explanation:

Due to:

in the rect line, left to zero = 13 (absolute value)

in the rect line, right to zero = 13 (absolute value)

So the sum of each absolute value is the distance.

Best regards

If you mean absolute value, it is 13. If you are talking about distance, it is 26. -13 to 0 is 13. (-13 + 13 = 0) Then, you add 13 again, to get from 0 to 13. (0 + 13 = 13.)

how do you locate fraction 4/1 on a number line

Answers

Answer:

Move 4 units to the right-hand side of the origin point, 0.

Step-by-step explanation:

A number line in mathematics is a straight line marked with numbers to the left(negative numbers) and to the right (positive numbers), at equal intervals along the line.The origin of the number line is 0. 4/1 is similar to positive 4 which is located 4 units to the right-handside of 0.

Final answer:

To locate the fraction 4/1 on a number line, you need to divide the number line into 1 part and find the 4th part.

Explanation:

To locate the fraction 4/1 on a number line, you need to understand that fractions represent a part of a whole. In this case, the fraction 4/1 means that you are dividing the number line into 1 part and looking for the position of the 4th part. Here's how you can do it:

Draw a number line with appropriate markings, such as whole numbers.Divide the number line into equal parts based on the denominator of the fraction. In this case, since the denominator is 1, you don't need to divide further, as every part is the same size.Locate the numerator on the number line. In this case, 4 is equivalent to four parts of the whole number line.Mark the location of 4 on the number line.

The two figures are similar rectangles. Find the scale factor for the large rectangle to the small rectangle. A)3 B)1/3 C)2/3 D)3/2

Answers

Answer: 1/3

Hope This Helps ^_^

−3x+9−2x=−12−5x
infinitely, no solutions, one solution

Answers

Answer:

No solution

Step-by-step explanation:

Each side of the equation,once distributed, has 5x.

The 5x's cancel out to x= x-5

Which is incorrect and has no solution.

Answer:

No solution

Step-by-step explanation:

Many has 40 ounce of butter that he is cutting into 1.25 ounces . How many slices will he have?

Answers

He would have 32 slices of butter.

The student will have 32 slices of butter if they cut 40 ounces into 1.25-ounce pieces by dividing the total amount by the size of each slice.

The student wants to know how many slices of butter they can get from 40 ounces if they are cutting it into 1.25 ounces each. To find out, they need to divide the total amount of butter by the size of each piece.

First, take the total amount of butter, which is 40 ounces.

Divide 40 ounces by the size of each slice, which is 1.25 ounces.

Calculate the division: 40 / 1.25 = 32 slices.

Therefore, the student will have 32 slices of butter if they cut 40 ounces into 1.25-ounce pieces.

Franco wants to have $750,000 when he retires in a year. If he currently has $700,000 to put in a 1-year CD, which of these APRs and compounding periods will allow him to reach his goal?

Answers

Answer:

Francesco can achieve this amount by investing at an APR of 7.14% compounded annually , or 7% compounded every six months or 6.95% compounded quarterly

Step-by-step explanation:

This question can be solved using the concept of compounded interest

The formula for amount obtained when a principal of p was invested at a rate r compounding n times a year is:

[tex]Amt = p(1+\frac{r}{100n})^n[/tex]

Here p = 70000, amt = 75000,

So when compounded annually, n=1

[tex]Amt =p(1+\frac{r}{100n})^n\\75000=70000(1+\frac{r}{100})^1\\\frac{15}{14}=1+\frac{r}{100}\\\frac{1}{14}=\frac{r}{100}\\r = \frac{100}{14}=7.14[/tex]

For compounding every 6 months n=2

[tex]Amt =p(1+\frac{r}{100n})^n75000=70000(1+\frac{r}{200})^2\\\frac{15}{14}=(1+\frac{r}{200})^2\\\sqrt{\frac{15}{14}}=1+\frac{r}{200}\\r = 200*(\sqrt{\frac{15}{14}}-1)=7.01[/tex]

For compounding quarterly n=4

[tex]Amt =p(1+\frac{r}{100n})^n\\75000=70000(1+\frac{r}{400})^4\\\frac{15}{14}=(1+\frac{r}{400})^4\\(\frac{15}{14})^\frac{1}{4}=1+\frac{r}{400}\\r = 6.95[/tex]

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Answer: An APR OF 6.98% compounded quarterly

Step-by-step explanation:

What Is 5 1/2 - 2 5/6? Explain Your Answer

Answers

Answer:

2 2/3

Step-by-step explanation:

Make them into improper fractions first.

11/2 - 17-6

Then multiply 11/2 so that they have common denominators.

33/6 - 17/6

Then solve.

33/6 - 17/6 = 16/6

Then convert back into a mixed number.

2 4/6 or 2 2/3

Which of the following rules represents the function shown in the table?

Answers

This is F(n) = 3n

The X is an interger which is holding a value

The relationship between Y and X is 3n as we multiply X by 3 to get the value of Y and is proven yet so.

Answer:

The rule which represent the function as shown in the table is:

                 [tex]f(n)=3n[/tex]

Step-by-step explanation:

We are given a table as follows:

  x       2          -1         0

  y       6          -3         0

Now we are asked to find the function which represent these table of values.

a)

    [tex]f(n)=n+3[/tex]

Here x is represented by n and y by f(n)

when n=2 we must have f(n)=6

Hence, we put n=2 in the given expression and check,

[tex]f(2)=2+3=5\neq 6[/tex]

Hence, this is not a correct function.

b)

[tex]f(n)=\dfrac{1}{3}n[/tex]

Again we check for n=2

We have:

[tex]f(2)=\dfrac{1}{3}\times 2=\dfrac{2}{3}\neq 6[/tex]

Hence, it is not a correct expression.

So we are left with option: c)

c)

[tex]f(n)=3n[/tex]

By putting the value of n=2,-1 and 0

we see that the expression matches the table of values.

( since,

when n=2 we have:

[tex]f(2)=3\times 2=6[/tex]

when n= -1 we have:

[tex]f(-1)=3\times -1=-3[/tex]

and when n=0 we have:

[tex]f(0)=3\times 0=0[/tex] )

Hence, this is a correct expression.

A bag contains 6 red balls, 4 green balls, and 3 blue balls. If we choose a ball, then another ball without putting the first one back in the bag, what is the probability that the first ball will be green and the second will be red?

Answers

Answer:

2/13

Step-by-step explanation:

There are 6 + 4 + 3 = 13 balls all together.

If the first one is green, this will happen with a probability of 4/13. Now there are 12 balls left

There are 6 red balls. 6/12 = 1/2

The probability of the way this happens is 1/2 * 4/13 = 2/13

A box weighs 90 grams.Write down in terms of b ,the weight of b boxes

Answers

Let B = the weight of box B

Let 2B = the weight of box A

Let 2B + 30 = the weight of box C

B + 2B + 2B + 30 = 640

5B = 610

B = 122 pounds, weight of box B

2B = 2(122) = 244 pounds, weight of box A

2B + 30 = 2(122) + 30 = 274 pounds, weight of box C

hope this helps

Answer: 90b (grams)

Step-by-step explanation:

Given statement : A box weighs 90 grams.

Let b denotes the number of boxes, then the weight of b boxes will be :-

[tex]\text{Total weight of b boxes}=b\times\text{Weight of one box}\\\\\Rightarrow\ \text{Total weight of b boxes}=b\times90\\\\\Rightarrow\ \text{Total weight of b boxes}=90b[/tex]

Hence, the expression for the weight  ( in grams) of b boxes : 90b

In the complex number 4+ 2i, 4 is the (blank) part.

Real or imaginary


In the complex number 4 + 2i, 2 is the (blank) part.

Real or imaginary

Answers

Answer:

4 is the real part

2 is the imaginary part

Step-by-step explanation:

A complex number is written in the form a+bi

where a is the real part and b is the imaginary part

4 +2i

4 is the real part

2 is the imaginary part

Answer:

4 is real. 2 is imaginary

Step-by-step explanation:

What expressions are equivalent tell me all if more than 1 :)

Answers

A. Is 6x+9x and 15x
B. Is 4 times 1 plus 4 times 9y and 4+36y

a) the first and last one : 6x + 9x and 15x

b) second and third one : 4*1 + 4*9y and 4 + 36y

pls mark brainliest!

QUESTION 9! Answer all 20 questions in da quiz to get all de point in meh bank acc c:

Answers

The correct answer is A.

Hope this helps.

Answer:

The answer is A.

Step-by-step explanation:

This is because it wants you to represent the answer in Slope-Intercept Form. Which is y = mx + b. B is the y intercept, which is where it starts. On a graph, the y-intercept starts at ZERO. The 3 is at the zero, so you know what the first number is. Then, you need to see the fluctuation (change) in the value of each number in the y as you increase in x. As the x increases by one, you can see that the y decreases by two. So now you know, the ROC or Rate of Change is two, which is your slope. Slope is m. So if m is two, that makes 2x.

Hopefully this helps!

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