MATHEMATICS MIDDLE SCHOOL

Consider a student loan of 20,000 at a fixed APR of 6% for 20 years calculate monthly payments

Answers

Answer 1
Answer:

ANSWER:

The monthly payments for student loan of 20,000 is $183.34.

SOLUTION:

Given, a student loan of 20,000 at a fixed APR of 6% for 20 years  

We need to calculate monthly payments.

Now, we need to follow the below procedure to calculate monthly payments.

Convert the annual rate from percentage to decimal format (by dividing by 100)

(6)/(100) = 0.06 annually

Now, Divide the annual rate by 12

(0.06)/(12) = 0.005

Then, Calculate the monthly interest on $20,000

0.005 * 20000 = 100

Now, loan amount to be paid per month is total amount divided by time span

$(20000)/(20 * 12) = 183.34$

Hence, the monthly payments are $183.34.  
Answer 2
Answer:

Answer:

143.29

Step-by-step explanation:

20,000 for 20 yr at 6% intrest

240 total payments with total intrest of 14,388.69

payback amount 34,388.69

Related Questions

Plzzzz help meeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Do the problem in the picture below!!!
Will bought a pedometer to measure how far he walks every day. According to the pedometer He moves about 27 5/8 inches with each step he takes when he walks. How many feet did Will travel in 96 steps?
How many solutions does the equation y + 12 = y + 10 + 2 have?ZeroOneTwoInfinitely many
126 is decreased to 48 percent of change

What is the slope of line m? PLEASE HELP !!!

Answers

slope=rise/run

se how many units it goes up and how many units it goes to the right

from (-3,0) to (0,6), it goes up 6 units total and goes 3 units to right therefor
6/3=2=slope
slope=2
or the longer way is
slope=(y2-y1)/(x2-x1)
slope=(6-0)/(0-(-3))=6/(0+3)=6/3=2


slope=2

Mara carried water bottles to the field to share with her team at halftime. The water bottles weighed a total of 60x2 + 48x + 24 ounces.

Answers

Answer:

Step-by-step explanation:

12(5x^2+4x+2) is correct answer because divide everything by 12 and that is factorization that you get. It is the furthest simplified for of this factorization.

Explain how you know 21/30 is greater than 2/3

Answers

Simple.

to figure out if they are either: equal, greater, or smaller...

First, find a common denominator...

(21)/(30)

and

(2)/(3) * (10)/(10) = (20)/(30)

Now, we can obviously make the assumption that (21)/(30) is greater than (20)/(30).

Thus, your answer. 
if you do 2 X 10, it's 20.
if you do 3 X 10, it's 30.

so, the fraction would be 20/30, and with the denominators the same, now you can see that 21 is greater than 20.

hopes this helps (:

Sorry can some one help me on this I have been trying

Answers

the answer is 192 because the middle part is equal to 168 then you add 12 two time for the two side in the right and left so it equals to 192

6 tractors take 6 days to collect the harvest. How long would it take 9 tractors to do the same amount of work?

Answers

t - tractors
d - days

6t * 6d =9t*xd \n \n x= (36td)/(9td) =4

Four days

How do you tell if an equation is linear or not????

Answers

You can tell if the equation is linear or not if the equation makes a straight line on a graph.
If it has an X in it
For example: 2X+7
Other Questions
Who can tell this answer
Select the graph for the solution of the open sentence. Click until the correct graph appears. |x| > 4
What is three fifths plus two fourths equal
Last Year, a state university received 3,560 applications from boys. Of those applications, 35 Percent were from boys who lived in other states.Part A)How many applications did the university receive from boys who lived in other states?Part B)Applications to the university from boys represented 40Percent of all applications. How many applications did the university receive In all? I don't how to do part b so please help me and plz tell how you got your answer