Kelsey has acquired a student loan for her last year of school. The loan is $7500 with an interest rate of 4.5% and she plans to pay this off in 5 years. Her monthly payment is $139.82. What is her total payback amount and how much interest will she pay on this loan?

Part 1) Her total payback amount is $8,389.20

Part 2) $889.20

Step-by-step explanation:

Part 1) What is her total payback amount

we know that

To find out the payback amount, multiply the monthly payment by the number of months

Remember that

5 years is equal to 5(12)=60 months

so

therefore

Her total payback amount is $8,389.20

Part 2) How much interest will she pay on this loan?

Subtract the amount of the loan from the total payback amount

so

answer:

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

explanation:

service only with 20% tip  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

in the opening of the question the word 'service' is associated only with the pretax value.

the closing part of the question asks: how much did she pay for the  

service

−−−−−−  

so technically the answer is  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

however, the intention of the question provider may have been that your answer is to be  

$

87.12

(

1

+

8

100

)

=

$

94.09

to 2 decimal places.

'

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

tony b

mar 21, 2017

answer:

trying to explain it another way

explanation:

service charge  

.

→

$

72.60

20% tip  

20

100

×

$

72.60

=

$

14.52

−−−−−−  

←

add

$

87.12

tax  

8

100

×

$

87.12

=

$

6.97

−−−−−  

←

add

$

94.09

related questions

answer:

step-by-step explanation:

here, the total dishes = 10

dishes having meat = 3 ( chicken, meatloaf and hamburger )

thus, the probability of having meat on the chosen dishes = number of dishes having meat / total dishes

=

therefore, the probability of not having meat = 1- the probability of having meat on the chosen dishes

=

=

=

⇒ option b is correct.