luchcode luchcode

02-03-2021
Mathematics

contestada

jamie borrowed $31,000 to put towards a down payment for a home. Jamie plans to repay the loan in 7 years. The bank offered a 4.1 interest rate compounded quarterly. What is the total amount Jamie will pay the bank?

Respuesta :

georgia40 georgia40

02-03-2021

Answer:

56,691.00 which would be 21 payments at 4.1 % compounded quarterly.

84 months in 7 years

÷ 4

= 21

21

×4.1 =

26,691 +

31,000 =

56,691

Answer Link

Otras preguntas

Find Domain of the functionsquare root of (x-8)/x(x-9)

Data are drawn from a symmetric and bell shaped distribution with a mean of 120 and a standard deviation of 5. There are 900 observations in the data set. What

How were life forms affected by the rise in atmospheric oxygen levels that began 2.2 billion years ago?

How were life forms affected by the rise in atmospheric oxygen levels that began 2.2 billion years ago?

Find Domain of the functionsquare root of (x-8)/x(x-9)

Find Domain of the functionsquare root of (x-8)/x(x-9)

Prove that (x^5)-(x^2)+2x +3=0 has at least one real root. Prove that x=cosx has at least one solution.

Prove that (x^5)-(x^2)+2x +3=0 has at least one real root. Prove that x=cosx has at least one solution.

Can someone use the word delta in a sentence

what is the answer for (20,8),(9,16) ?