subject
Mathematics, 03.05.2021 21:10 hogwartsalicia

Currently, you owe the bank TL 9.800 for a car loan. The loan has an interest rate of 7,75% per year with monthly compounding. You were making payments of TL 310 for each ending month. Your bank has recently changed such that you can no longer afford to make these TL 310 payments. After talking withyour bank officer and explaining the situation, he has agreed to lower your monthly payments to TL225 while keeping the interest rate at 7,75 % per year with monthly compounding. Determine how much longer it will take you to repay this loan than you had originally planned with this new payment schedule.

ansver
Answers: 2

Another question on Mathematics

question
Mathematics, 21.06.2019 17:30
Monthly water bills for a city have a mean of $108.43 and a standard deviation of $32.09. find the probability that a randomly selected bill will have an amount greater than $155, which the city believes might indicate that someone is wasting water. would a bill that size be considered unusual?
Answers: 1
question
Mathematics, 21.06.2019 18:30
Ricky takes out a $31,800 student loan to pay his expenses while he is in college. after graduation, he will begin making payments of $190.66 per month for the next 30 years to pay off the loan. how much more will ricky end up paying for the loan than the original value of $31,800? ricky will end up paying $ more than he borrowed to pay off the loan.
Answers: 1
question
Mathematics, 21.06.2019 20:00
The table below represents a linear function f(x) and the equation represents a function g(x): x f(x) −1 −5 0 −1 1 3 g(x) g(x) = 2x − 7 part a: write a sentence to compare the slope of the two functions and show the steps you used to determine the slope of f(x) and g(x). (6 points) part b: which function has a greater y-intercept? justify your answer. (4 points)
Answers: 2
question
Mathematics, 21.06.2019 20:30
This is about circle theorems. someone asap : (
Answers: 1
You know the right answer?
Currently, you owe the bank TL 9.800 for a car loan. The loan has an interest rate of 7,75% per year...
Questions
question
Mathematics, 11.03.2020 19:57