The fraction equal to 0.4 repeating is 4/9.
The fraction equal to 0.4 repeating can be determined by converting the repeating decimal into a fraction form.
We denote the repeating decimal as x. To eliminate the repeating part, we multiply both sides of the equation by a power of 10 that is equal to the number of repeating digits.
In this case, multiplying by 10 will be enough.
10x = 4.44444...
Now, subtracting x from both sides, we have:
10x - x = (4.44444...) - (0.44444...)
9x = 4
Dividing both sides by 9:
x = 4/9
Therefore, the required fraction is 4/9.
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Even though the principal would be paid off in just over 10 years, it costs the bank a lot of money to fund the loan. the rest of the loan is paid out in interest.
Given
It takes 30 years to pay off a $150,000 loan, even though you pay $1000 a month.
The loan amount is on monthly basis thus, they charge interest on a monthly basis, and thus as we repay a certain value of the loan and on the remaining value interest is charged which results in the higher values.
The amount of interest charged results in the higher cost of the loan amount and so it took more time to repay the loan than the actual time of the repay of the principal amount.
The amount you have to pay the bank is;
= $150000 + Interest
Hence, Even though the principal would be paid off in just over 10 years, it costs the bank a lot of money to fund the loan. the rest of the loan is paid out in interest.
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