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shaonaworld
19.10.2019 •
Mathematics
Ursula took out an unsubsidized stafford loan to pay for her first of her four years at college. the loan had a principal of $6,400, an interest rate of 6.9% compounded monthly. after college, ursula started making monthly payments over a 10 year period on her loan. what percentage of the total cost of the loan is the finance charge?
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Ответ:
49.82%
Step-by-step explanation:
The expression used in determining the compound interest is as follows:
where;
A = amount = ???
P = Principal = 6400
r = interest rate = 6.9% = 0.069
n = number of times the interest is compounded = 12
t = time = 10
A = $12,734.59
This typically implies that the total amount required by Ursula to be paid = $12,734.59.
The finance charge = $12,734.59 - $6400
= $6344.59
To determine the percentage of the finance cost; we have the following:
$12,734.59 = 100%
$6344.59 = x %
x =![\frac{6344.59*100}{12734.59}](/tpl/images/0333/0059/57f12.png)
x = 49.82%
Ответ:
A: 15 packs for $3.95
Step-by-step explanation:
3.20/10*30 =9.6
6.20/2*3=9.3
2.20/5*30=13.2
3.96/15*30=7.92