Vgets a 10-year straight loan for $60,000 at an interest rate of 4% to finance the purchase of a vacation cottage in the hills. every month, she pays the lender $200. in 10 years, how much will she owe the lender?

$60,000

Step-by-step explanation:

Data provided in the question:

Duration of the loan = 10 years

Interest rate = 10%

Principle amount = $60,000

Monthly payment = $200

Now,

Total payment made in 10 years

= Monthly payment × Total months in  10 years

= $200 × 120

= $24,000

Total amount owed in 10 years

= Principle × ( 1 + rate × time)

= $60,000 × ( 1 + 0.04 × 10)

= $60,000 × ( 1.4 )

= $84,000

Thus,

Total amount owed after 10 years

= Total amount owed in 10 years - Total payment made in 10 years

= $84,000 - $24,000

=  $60,000

step-by-step explanation :

we know that

the measurement of the outer angle is the semi-difference of the arcs which comprises

in this problem

m< xzy is the outer angle

substitute the values

the measure of angle xoy is equal to

> by central angle

substitute the value

investment b is an ordinary annuity with $3,909.64 in the account after one year.

step-by-step explanation: