how to calculate interest on a loan

Answers

Answer 1

Answer:

Gather information like your principal loan amount, interest rate and total number of months or years that you’ll be paying the loan.Calculate your total interest by using this formula: Principal Loan Amount x Interest Rate x Time (aka Number of Years in Term) = Interest.

If you take out a five-year loan for $20,000 and the interest rate on the loan is 5 percent, the simple interest formula works as follows:

$20,000 x .05 x 5 = $5,000 in interest

You might encounter simple interest on short-term loans. However, the way most banks and lenders charge interest is more complicated.

Step-by-step explanation:


Related Questions

what is 6/10 as hundredths in fraction form and in decimal form

Answers

Answer:

Hundredths: [tex]\frac{6}{10}[/tex]

6 × 10 = 60 & 10 × 10 = 100

(multiply both the numerator and denominator by 10)

Decimal: 0.6

6 ÷ 10 =

good luck, hope this helps :)

CAN SOMEONE PLS ANSWER-If W(- 10, 4), X(- 3, - 1) , and Y(- 5, 11) classify AEXY by its sides . Show all work to justify your answer

Answers

Answer:

WX = [tex]\sqrt{74} \approx 8.6023253\\\\[/tex]XY = [tex]2\sqrt{37} \approx 12.1655251\\\\[/tex]WY = [tex]\sqrt{74} \approx 8.6023253\\\\[/tex]Classify:  Isosceles

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

Explanation:

Apply the distance formula to find the length of segment WX

W = (x1,y1) = (-10,4)

X = (x2,y2) = (-3, -1)

[tex]d = \sqrt{(x_1 - x_2)^2 + (y_1 - y_2)^2}\\\\d = \sqrt{(-10-(-3))^2 + (4-(-1))^2}\\\\d = \sqrt{(-10+3)^2 + (4+1)^2}\\\\d = \sqrt{(-7)^2 + (5)^2}\\\\d = \sqrt{49 + 25}\\\\d = \sqrt{74}\\\\d \approx 8.6023253\\\\[/tex]

Segment WX is exactly [tex]\sqrt{74}[/tex] units long which approximates to roughly 8.6023253

-------------------

Now let's find the length of segment XY

X = (x1,y1) = (-3, -1)

Y = (x2,y2) = (-5, 11)

[tex]d = \sqrt{(x_1 - x_2)^2 + (y_1 - y_2)^2}\\\\d = \sqrt{(-3-(-5))^2 + (-1-11)^2}\\\\d = \sqrt{(-3+5)^2 + (-1-11)^2}\\\\d = \sqrt{(2)^2 + (-12)^2}\\\\d = \sqrt{4 + 144}\\\\d = \sqrt{148}\\\\d = \sqrt{4*37}\\\\d = \sqrt{4}*\sqrt{37}\\\\d = 2\sqrt{37}\\\\d \approx 12.1655251\\\\[/tex]

Segment XY is exactly [tex]2\sqrt{37}[/tex] units long which approximates to 12.1655251

-------------------

Lastly, let's find the length of segment WY

W = (x1,y1) = (-10,4)

Y = (x2,y2) = (-5, 11)

[tex]d = \sqrt{(x_1 - x_2)^2 + (y_1 - y_2)^2}\\\\d = \sqrt{(-10-(-5))^2 + (4-11)^2}\\\\d = \sqrt{(-10+5)^2 + (4-11)^2}\\\\d = \sqrt{(-5)^2 + (-7)^2}\\\\d = \sqrt{25 + 49}\\\\d = \sqrt{74}\\\\d \approx 8.6023253\\\\[/tex]

We see that segment WY is the same length as WX.

Because we have exactly two sides of the same length, this means triangle WXY is isosceles.

Can someone please help mehh

Answers

8.5, you follow a^2+b^2=c^2 since it is a right triangle

Answer: b = 7.4 yards

Step-by-step explanation:

In a right angle triangle, the length of each base squared added together is equal to the hypotenuse squared (Pythagorean theorem written as a^2 + b^2 = c^2)

The bases are b and 3 and the hypotenuse is 8

b^2 + 3^2 = 8^2

b^2 + 9 = 64

b^2 = 55

the square root of 55 is approximately 7.4

Will mark brainliest.

Answers

Answer:

A

Step-by-step explanation:

hope it's help.......

dau coroană pe că o să mă ajute un român și mă ajută în engleză sau germană sau așa e bine Sper să îmi răspundeți mai repede că trebuie să fac cât mai repede tema și vorbim când ne răspundeți ​

Answers

Answer:

hii baby

how are you

can you be my friend

Dale plows his field at a constant rate of 18 mph. If Dale plows for 6 hours, how many miles of his field did he cover? A. 3 mi. B. 18 mi. C. 68 mi. D. 108 mi.

Answers

Answer:

108

Step-by-step explanation:

If Dale has a constant rate that means no matter how many hours, every hour he mows he will mow 18 miles. He mowed for 6 hours, so all you have to do is multiply 6*18, and your answer is 108 miles.

Answer:

a

Step-by-step explanation:

18 divded by 6 is 3

help!!!!! plz! this is suppose to be done in a short time

Answers

Answer:

y=-4/3x

Step-by-step explanation:

Marisa’s mother is driving her to a doctor’s appointment in a town 75 mi. away. If they travel at a constant rate of speed of 50 mph, how long will it take to get to the doctor’s office? A. 1 hr. B. 1.5 hr. C. 2.5 hr. D. 3 hr.

Answers

Answer:

B) 1.5 hr

Step-by-step explanation:

75 miles/50 mph = 1.5 hrs

Answer:

B.1.5

Step-by-step explanation: We can already add 1 hour to the answer since 75 minus 50 would be 25. Next, we know that 25 is one half of 50 so that would result in us adding half an hour or 0.5. Now we can add. 1 plus 0.5 results in 1.5

decrease 40 by 62 1/2%

Answers

Answer:

15

Step-by-step explanation:

Take 62.5 from 100  = 37.5

divide this by 100 = 0.375

times 40 by this

0.375 x 40 = 15

Which situation would best be modeled by the direct variation y = kx?

Answers

Answer:

y is directly proportional to x

Step-by-step explanation:

if y is directly proportional to x it has to have a constant which is k

Answer:

The amount of money you make for working x hours at k dollars per hour.

Step-by-step explanation:

I put this so, It going to be right.

Sal's Sandwich Shop sells wraps and sandwiches as part of its lunch specials. The profit on every sandwich is $2, and the profit on every wrap is $3. Sal made a profit of $1,470 from lunch specials last month. The equation 2x + 3y = 1,470 represents Sal's profits last month, where x is the number of sandwich lunch specials sold and y is the number of wrap lunch specials sold.

1:Change the equation to slope-intercept form. Identify the slope and y-intercept of the equation. Be sure to show all your work.
2:Describe how you would graph this line using the slope-intercept method. Be sure to write using complete sentences.
3:Write the equation in function notation. Explain what the graph of the function represents. Be sure to use complete sentences.
4:Graph the function. On the graph, make sure to label the intercepts. You may graph your equation by hand on a piece of paper and scan your work or you may use graphing technology.
5:Suppose Sal's total profit on lunch specials for the next month is $1,593. The profit amounts are the same: $2 for each sandwich and $3 for each wrap. In a paragraph of at least three complete sentences, explain how the graphs of the functions for the two months are similar and how they are different.

Answers

Answer:

Answer:

1.) the y intercept is 490 and the slope is -2/3x

2.) First, I would find the point (0,490) and plot a point there. Then I would use our slope -2/3 to figure out what direction and what angle the line goes by counting 2 down and 3 to the right

3.) f(x)= -2/3x+490

The graph represents how many wraps could've been sold for each number of sandwich sales to keep the same profit of $1,470.  

4.) graph down below

5.) the profits are the same (slope) but the y intercept is higher then the original graph.

6.) y=-2/3x+300

Step-by-step explanation:

some of these are part of the problem as well.

1.)  2x+3y=1,470  

3y=-2x+1,470

-2x+1,470/3

-2/3x + 490

y=-2/3x + 490

the y intercept is 490 and the slope is -2/3x

2.) First, I would find the point (0,490) and plot a point there. Then I would use our slope -2/3 to figure out what direction and what angle the line goes by counting 2 down and 3 to the right

3.) f(x)= -2/3x+490

The graph represents how many wraps could've been sold for each number of sandwich sales to keep the same profit of $1,470.  

5.) 2x+3y=1,593

3y=-2x+1,593

y=-2/3x+531

the profits are the same (slope) but the y intercept is higher then the original graph.

6.) (150, 200) (300, 100)

y intercept= 300

m= 100-200/300-150 = -100/150 = -2/3

y=-2/3x+300

this was a question from a while ago but I thought I would answer it anyways, hope its right and hope it helps you! <3

Aysha’s new bike has 26 inch diameter wheels. What is the circumference of her new wheel? Give your answer correct to 1 decimal place.

Answers

Answer:

81.6 inches is the circumference

Step-by-step explanation:

Circumference is π times diameter.

We can use a common value of π, 3.14

3.14 × 26 = 81.64

Round to 81.6 inches

You are making a plan to paint your bedroom walls. Describe the shape of your bedroom and how you can use the geometry formulas to calculate how much paint that you will.

Answers

Answer:

we can use the formula of area of four wall

and the cost of painting the wall

En una fabrica de cajas se producen 356 cajas por semana.¿Cuantas cajas se producen por mes?

Answers

Answer:

1.424

Step-by-step explanation:

solo multiplica 356x4

y = x^2+ 2x + 3
2y - 2x = 10


(Solving the following system of equations)

Answers

Answer:

It would be (1,6), (-2,3)

x=1, y=6

x=-2, y=3

Step-by-step explanation:

Solve for the first variable in one of the equations, then substitute the result into the other equation.

someone help me with this ples with steps

Answers

Answer:

[tex]x=\frac{21}{4}[/tex]

[tex]y=\frac{21}{2}[/tex]

Step-by-step explanation:

equation (1): [tex]\frac{1}{2} (2x+y)=\frac{21}{2}[/tex]

equation (2): y=2x

solve the system by substitution

step1: sub (2x) for y in equation 1:

[tex]\frac{1}{2} (2x+y)=\frac{21}{2}[/tex]

[tex]\frac{1}{2} (2x+2x)=\frac{21}{2}[/tex]

step2: simplify the expression:

[tex]\frac{1}{2} (4x)=\frac{21}{2}[/tex]

[tex]2x=\frac{21}{2}[/tex]

(divide by 2 for both sides)

[tex]x=\frac{21}{4}[/tex]

To find the value for y sub 21/4 for x in equation 2:

y=2x

y=2×(21/4)

[tex]y=\frac{21}{2}[/tex]

A shirt is on sale for $15.75. This is 15% off the original price. What was the original price of the shirt?

$18.11

$13.39

$17.25

$18.53

Answers

Divide sale price by (1 - percent of discount):

15.75 / (1- 0.15) =

15.75 / 0.85 = 18.53

Answer = $18.53

Answer:

18.53

Step-by-step explanation:

18.53*0.15≈2.7795

Rounded = 2.78

18.53-2.78=15.75

Plz help I literally suck at math... btw this is 6th grade math (there is an image)

Answers

Answer:

y=7x

Step-by-step explanation:

one way to think of it is by taking a y value from the table like (for example) 42 so you would do something like 42 divided by x = 6, or u could just do 42 divided by 6 which gives u 7. u can check ur answer by plugging in an x value to the equation. so for example we can plug in 8 to y=7x which is basically 7x8 and 7x8 is 56 which is true to the table.

im not rlly good at explaining things im sorry lol but I hope this kinda helped

Fernando had to pay $1.40 in sales tax when he purchased a shirt . If the sales tax rate is 7% how much did his shirt cost

Answers

Answer:

$20

Step-by-step explanation:

Work backwards so Price(.07) = $1.40 so x (.07) = 1.40, solving for x then

x = 1.4/.07 so x = 20

The cost of the shirt of Fernando is $20.

What is an expression?

The mathematical expression combines numerical variables and operations denoted by addition, subtraction, multiplication, and division signs.

Mathematical symbols can be used to represent numbers (constants), variables, operations, functions, brackets, punctuation, and grouping. They can also denote the logical syntax's operation order and other properties.

Given that Fernando had to pay $1.40 in sales tax when he purchased a shirt . The sales tax rate is 7%.

The cost of the shirt is calculated as,

$1.40 =  x (.07)

x = 1.4/.07

x = $20

Therefore, the cost of the shirt of Fernando is $20.

To know more about an expression follow

https://brainly.com/question/25748136

#SPJ5

Bob has his own cyber security company. Using the graph answer the following questions

Answers

answer:

you need not attach a graph to this. please do that so we can help you with the questions.

Pa tulong po pleasee

Answers

Answer:

1. 7

2. 54÷2=27

only this I know please put brainlest

Answer:

1.x+5=12

2.2x=54

If gdp is $20 trillion how many years will it take for a gdp to increase to 80$ trillion if growth is 7 percent

Answers

Answer:

19. 8 years

Step-by-step explanation:

Using the exponential growth function :

A = Pe^rt

A = final amount or growth unit

P = initial or present growth unit

Rate, r = growth rate

80 = 20e^0.07t

80/20 = e^0.07t

4 = e^0.07t

Take In of both sides

In(4) = 0.07t

1.3862943 = 0.07t

t = 19.804205

t = 19. 8 years

The perimeter of the rectangle is 28 units.
What is the value of w?
5 units
7 units
74 units
15 units

Answers

Answer:

5 units is the correct value of W

Find the value of x. Write your answer as a simplified radical if necessary.

Answers

Answer:

The answer is 3

This triangle is equal to the legs and also angular and by using Pythagoras then

[tex] {x}^{2} + {x}^{2} = {(3 \sqrt{2}) }^{2} \\ 2 {x}^{2} = 18 \\ then \: x = 3[/tex]

HELPPPPPP ASAPPPP PLSSSS

Answers

Answer:

a. 43

Step-by-step explanation:

This question is asking how much candy he had initially.

This means that t = 0 days

Thus anything to the power of 0 is just 1.

Hence: 43 x 1 = 43 candies

Find the common ratio (r) of the sequence 3, -6, 12, -24, ...

Answers

Answer:

-2

Step-by-step explanation:

3*(-2)=-6

-6*(-2)=12

12*(-2)=-24

Manjila gupta birth date​

Answers

Answer:

i am jisoo i am okey

Step-by-step explanation:

jinnie

10. Logan places a mirror on the floor 220 cm from the base of a wall. He holds a flashlight 130 cm above the ground and shines the beam onto the mirror. How far must Logan stand back from the mirror so that the height at which the light shines on the wall is 100 cm greater than the height at which Logan holds the flashlight?

Answers

Answer:

124.35 cm

Step-by-step explanation:

Step by step solution in the attachment

Juanita has an aquarium that is 5 feet long, 4 feet wide, and 2 feet deep. What is the volume of the aquarium? Enter your answer in the box.

Answers

Answer:

40 cubic feet

Step-by-step explanation:

Aquarium is in the shape of rectangular prism.

Volume = length * width * depth

Volume of the aquarium = 5 * 4 * 2

                                         = 40 cubic feet

David has 1,327.00 on his checking account. if he writes a check for 1,987.00, what will David's balance be​

Answers

The answer is negative 660    (-660)

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