Michael wants to buy some new exercise equipment for his home gym for $363,000 financed at an annual interest rate of 15% using the add-on method. If Michael wants to pay off the loan in years, what will be his monthly payment?

Answers

Answer 1

Problem statement: Find the monthly payment

Method: The monthly payment formula is given by:

\(A=P\frac{r(1+r)^n}{(1+r)^n-1}\)

where

In our case

\(\begin{gathered} P=\text{ \$363,000} \\ n=5(years)\times12(\frac{months}{\text{year}})=60\text{months} \\ \\ r=\frac{\text{annual rate}}{n\nu mber\text{ of times componded per year}}=\frac{15\text{ \%}}{12}=\frac{15}{100\times12}=0.0125 \end{gathered}\)

The next step will be to substitute the above values into the formula

\(\begin{gathered} A=363,000\times\frac{0.0125(1+0.0125)^{60}}{(1+0.0125)^{60}-1} \\ A=363,000\times0.02379 \\ A=\text{ \$8635.7}4 \end{gathered}\)

Therefore, Michael's monthly payment will be $8635.74


Related Questions

In Exercises 33–36, determine if the specified linear transforma- tion is (a) one-to-one and (b) onto. Justify each answer. 14. Let T : R2 R2 be a linear transformation with standard matrix A = aaz], where a, and a, are shown in the figure. Using the figure, draw the image of under the transformation T. [-] 1 |

Answers

If values prοvided then transfοrmatiοn οf vectοrs can be determined.

What is vectοr?

In mathematics, a vectοr is a mathematical οbject that represents a quantity with bοth a magnitude and a directiοn. Vectοrs can be used tο represent physical quantities such as velοcity, fοrce, and acceleratiοn, as well as mοre abstract cοncepts such as cοlοr, sοund, and temperature.

Withοut seeing the figure οr the values οf a1, a2, and a3, it is nοt pοssible tο determine whether the specified linear transfοrmatiοn T : R2 → R2 is οne-tο-οne and οntο.

Hοwever, in general:

A linear transfοrmatiοn T : Rn → Rm is οne-tο-οne if and οnly if its kernel (i.e., the set οf vectοrs that are mapped tο the zerο vectοr) is trivial, meaning that the οnly vectοr that maps tο the zerο vectοr is the zerο vectοr itself.

A linear transfοrmatiοn T : Rn → Rm is οntο if and οnly if its range (i.e., the set οf all vectοrs that can be οbtained by applying T tο sοme vectοr in Rn) is equal tο Rm.

Tο determine whether a linear transfοrmatiοn is οne-tο-οne οr οntο, we can examine its prοperties and characteristics, such as its kernel, range, rank, and determinant. We can alsο use geοmetric intuitiοn and visualizatiοn tο understand hοw the transfοrmatiοn maps pοints and vectοrs in Rn tο Rm.

If yοu prοvide mοre infοrmatiοn abοut the values οf a1, a2, and a3 and the figure that shοws the standard matrix A, it can help yοu determine whether the transfοrmatiοn is οne-tο-οne and οntο and draw the image οf the vectοr [-1, 1] under the transfοrmatiοn T.

Therefοre, if values prοvided then transfοrmatiοn οf vectοrs can be determined.

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Complete question -

In Exercises 33–36, determine if the specified linear transformation is (a) one-to-one and (b) onto. Justify each answer. 14. Let T : R2 R2 be a linear transformation with standard matrix A = aaz], where a, and a, are shown in the figure. Using the figure, draw the image of under the transformation T. [-] 1

In Exercises 3336, determine if the specified linear transforma- tion is (a) one-to-one and (b) onto.

Identify an equation in standard form for a hyperbola with center (0, 0), vertex (6, 0), and focus (10, 0).

Answers

Answer:

Step-by-step explanation:

Identify an equation in standard form for a hyperbola with center (0, 0), vertex (6, 0), and focus (10,

what the step for answer

what the step for answer

Answers

Answer:

See explanations below

Step-by-step explanation:

What the step for answer

Given the nth terms of as sequence expressed as

Sins a ≥ 3, we can find the third term of the sequence

an  = 2an-1 + an-2 - 2an-3

If a1 = 6 and a2 = 0 and a0 = 3

a3 = 2a2 + a1 - 2a0

a3 = 2(0) + 6 - 2(3)

a3 = 0 + 6 - 6

a3  = 0

If n = 4

a4 = 2a3 + a2 - 2a1

a4 = 2(0) + 0 - 2(6)

a4 = 0 + 0 - 12

a4  = -12

jaci welk is paid $11.95 an hour with time-and-a-half pay for all hours she works over 40 hours a week. last week she worked 45 1/2 hours.

how many over time hours did jaci worked?
what was her overtime rate?
what was her overtime pay?

Answers

Answer:

Number of hours worked overtime = 5.5 hours

overtime rate = $17.925 per hour

overtime pay = $98.59

Step-by-step explanation:

a. Her overtime hours are the number of hours worked over 40 hours, and we are told that she worked 45 1/2 hours last week.

Therefore, her overtime hours = 45.5 - 40 = 5.5 hours

b. overtime rate:

for her overtime rate, we are given that she has a time-and-a-half pay for her overtime hours. This means that she is paid 1.5 times the normal rate for working overtime.

∴ overtime rate = 1.5 × normal rate

overtime rate = 1.5 × 11.95/hour

overtime rate = $17.925/hour

c. overtime pay:

overtime pay = overtime rate × overtime hours worked

overtime pay = 17.925 × 5.5

overtime pay = $98.59

The problem has been started for you.

9 StartLongDivisionSymbol 780 EndLongDivisionSymbol minus 72 = 60. 60 minus 54 = a remainder of 6 and a quotient of 86.blank.
What is the quotient?
86
86.6
86.ModifyingAbove 6 with bar
87

Answers

Answer:

its to find the quotient, start by dividing 25 into 1658

Step-by-step explanation:

for the following question its 66.32 and 66 8/25 (hope this helps bud)

Answer:

C. 86.^6

Step-by-step explanation: That the answer or whateva

The monthly rent for an 800 square foot office is $975. For an 1100 square foot office, the rent is $1125. WRITE AND SOLVE A LINER EQUATION to find the monthly rent for a 1500 square foot office.

I need help and pls do it in The liner equation way which is also given two points.

Answers

Answer:

$1325

Step-by-step explanation:

Translate the given into two pairs of coordinates:

(800, 975) and (1100, 1125)

Work out the equation of the line passing through both of the points.

Find the slope:

m = (1125 - 975) / (1100 - 800) = 0.5

Find the y-intercept:

975 = 0.5*800 + b975 = 400 + bb = 975 - 400b = 575

The line is:

y = 0.5x + 575

Find the value of y when x = 1500:

y = 0.5*1500 + 575 = 1325

- 1 7/8 + 2 1/4
Plz help im confused

Answers

The answer to this would be 3/8.

you just simplify the given terms, so -1 7/8 can be simplified into -15/8 and 2 1/4 can be simplified into 9/4, add those together to get a sum of 3 over 8 or 3/8.

Good Luck

\(0.375\) ✅

Step-by-step explanation:

\( - 1 \frac{7}{8} + 2 \frac{1}{4} \\ = - \frac{15}{8} + \frac{9}{4} \\ = - \frac{15}{8} + \frac{9 \times 2}{4 \times 2} \\ = \frac{ - 15 + 18}{8} \\ = \frac{3}{8} \\ = 0.375\)

\(\large\mathfrak{{\pmb{\underline{\orange{Happy\:learning }}{\orange{!}}}}}\)

Which inequality is equivalent to the given inequality? -4(x + 7) < 3(x - 2)

Answers

Answer:

Step-by-step explanation:

We must simplify and rearrange the variables to divide x in order to determine the comparable inequality to the supplied inequality, -4(x + 7) 3(x - 2).

Below are the steps to solve the problem:

-4(x + 7) < 3(x - 2)

Expanding the equation:

-4x-28<3x-6

Gather the variable term on one side and constants on the other:

Adding -4x and 28 on both sides:

-4x + 4x - 28 + 28 < 3x + 4x - 6 + 28

=>0 < 7x + 22

To make the coefficient of x positive, we divide the entire inequality by 7:

0/7 < (7x + 22)/7

=> 0 < x + 22/7

Job A has a yearly salary of $43036 job b yearly salary is 16% less what is the salary of job b

Answers

Answer:

36,150.24

Step-by-step explanation:

$43036- 16%

Answer:

$36,150.24

Step-by-step explanation:

The salary of Job A is 100% of itself since 100% means a whole thing.

The salary of Job B is 16% less than the salary of Job A.

100% - 16% = 84%

That means that the salary of Job B is 84% of the salary of Job A.

We need to find 84% of $43036.

84% of $43036 =

= 0.84 * $43036

= $36,150.24

Help me please please please please please

Help me please please please please please

Answers

Answer:

f(6) = 21

Step-by-step explanation:

f(6) = 3x + 3

f6) = 3(6) + 3

f(6) = 18 + 3

f(6) = 21

Write a proportion for each statement. Then solve for the variable. A) the numbers -4.75 and 8 are proportional to the numbers -9.5 and k.

Answers

Given data:

The numbers -4.7 and 8 are proportional to the numbers -9.5 and k

So, we write it as

\(\frac{-4.75}{8}=\frac{-9.5}{k}\)\(\begin{gathered} -4.75k=-9.5\times8 \\ k=\frac{-76}{-4.75} \\ k=16 \end{gathered}\)

Thus, the value of k is 16.

Sylvia bought 8 bags of stickers. Each bag costs $2.79 how much did Sylvia spend

Answers

Answer:

Sylvia's total cost=$2.79*8

=$22.32

Step-by-step explanation:

Help me please ASAP !!!!!!!

Help me please ASAP !!!!!!!

Answers

Answer:

its A

PLS MARK AS BRAINLESS I MEAN BRAINLIEST :)

Step-by-step explanation:

Matthew made a mistake solving for x on his homework. Help him correct his process so
that he won't make the same mistake on the test.

Answers

Santana oscillations

lve for m.
-3 + m

9 = 10
A.
-30
B.
63
C.
87
D.
93

Answers

The value of m that satisfies the equation -3 + m = 9 is m = 12.

To solve the equation -3 + m = 9, we can isolate the variable m by moving the constant term -3 to the other side of the equation.

-3 + m = 9

To move -3 to the other side, we can add 3 to both sides of the equation:

-3 + 3 + m = 9 + 3

Simplifying, we have:

m = 12

Therefore, the value of m that satisfies the equation -3 + m = 9 is m = 12.

None of the provided answer options (A, B, C, D) match the correct solution.

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evaluate 7m + 3mn when m=8 and n=14

Answers

Answer:

392

Step-by-step explanation:

7(8) + 3(8)(14)

56 + 336

=392

*Brackets mean to multiply.

A news organization interested in chronicling winter holiday travel trends conducted a survey. Of the 96 people surveyed in the eastern half of a country, 42 said they fly to visit family members for the winter holidays. Of the 108 people surveyed in the western half of the country, 81 said they fly to visit family members for the winter holidays. Construct a 99% confidence interval for the difference in population proportions of people in the eastern half of a country who fly to visit family members for the winter holidays and people in the western half of a country who fly to visit family members for the winter holidays. Assume that random samples are obtained and the samples are independent. (Round your answers to three decimal places.) z0.10 z0.05 z0.025 z0.01 z0.005 1.282 1.645 1.960 2.326 2.576

Answers

Answer:

(-0.481 , -0.144)

Step-by-step explanation:

Confidence Interval for difference is proportion formula is given as:

p1 - p2 ± z ×√[p1(1 - p1)/n1 +p2 (1 - p2)/n2]

For p1

Of the 96 people surveyed in the eastern half of a country, 42 said they fly to visit family members for the winter holidays.

n1 = 96 people

p1 = x/n

x = 42 people

p1 = 42/96

= 0.4375

1 - p1 = 0.5625

For p2

Of the 108 people surveyed in the western half of the country, 81 said they fly to visit family members for the winter holidays.

n2 = 108 people

p2 = x/n

x = 81 people

p2 = 81/108

= 0.75

1 - p2 = 0.25

99% confidence interval = 2.576

p1 - p2 ± z ×√[p1(1 - p1)/n1 +p2 (1 - p2)/n2]

= 0.4375 - 0.75 ± 2.576 ×√[0.4375(1 -0.4375)/96 +0.75 (1 - 0.75)/108]

= -0.3125 ± 2.576 × √0.4375× 0.5625/96 + 0.75 × 0.25 /108

= -0.3125 ± 2.576 × √0.0025634766 + 0.0017361111

= -0.3125 ± 2.576 × √0.0042995877

= -0.3125 ±2.576 × 0.0655712414

= -0.3125 ± 0.1689115178464

Confidence Interval

-0.3125 - 0.1689115178464

= -0.4814115178

Approximately to 3 decimal places = -0.481

= -0.3125 + 0.1689115178464

= -0.1435884822

Approximately to 3 decimal places = -0.144

Therefore, the 99% confidence interval for difference in proportion = (-0.481 , -0.144)

the temperature is -56F. How many degreees below zero is the temperature?

Answers

The number of degrees below zero is given by A = 56° F

What is Modulus Function?

Regardless of the sign, a modulus function returns the magnitude of a number. The absolute value function is another name for it.

It always gives a non-negative value of any number or variable. Modulus function is denoted as y = |x| or f(x) = |x|, where f: R → (0,∞) and x ∈ R.

The value of the modulus function is always non-negative. If f(x) is a modulus function , then we have:

If x is positive, then f(x) = x

If x = 0, then f(x) = 0

If x < 0, then f(x) = -x

Given data ,

Let the initial temperature be represented as T

Let the number of degrees below zero be A

Now , the value of T is

T = -56° F

From the modulus function , we get

The value of the modulus function is always non-negative.

So , the measure of A = | T |

A = | -56 |

A = 56° F

Hence , the number of degrees below zero is 56° F

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HELPPPP PLZZZZZZ HELPPP

HELPPPP PLZZZZZZ HELPPP

Answers

Answer:200

Step-by-step explanation:

100 x 2

the cube of it is five my five by four and you'll get your answer

Evaluate. Write your answer as a fraction or whole number without exponents. 1/10^-3 =

Answers

Answer:

1000

Step-by-step explanation:

=> \(\frac{1}{10^{-3}}\)

According to the law of exponents, \(\frac{1}{a^{-m}} = a^{m}\)

So, it becomes

=> \(10^{3}\)

=> 1000

I WILL MARK 100 BRAINLIST IF CORRECT

Which equation justifies why ten to the one third power equals the cube root of ten?

ten to the one third power all raised to the third power equals ten to the one third plus three power equals ten
ten to the one third power all raised to the third power equals ten to the one third times three power equals ten
ten to the one third power all raised to the third power equals ten to the three minus one third power equals ten
ten to the one third power all raised to the third power equals ten to the one third minus three power equals ten

Answers

The exponent property that justifies why ten to the one third power equals the cube root of ten is:

ten to the one third power all raised to the third power equals ten to the one third times three power equals ten.

Which exponent property is used in this problem?

The exponent property using in this problem is the power of power rule, which states that when a term is elevated to a power, and this power is elevated to another power, then the powers are multiplied.

Hence, considering the expression in this problem:

((10)^(1/3))^3

We have that:

The base is 10.The exponents are 1/3 and 3.

Then the multiplication of the exponents is given as follows:

1/3 x 3 = 1.

And the result is:

10^1 = 10.

Since the number 10^(1/3) elevated to the cube has a result 10, the number is equivalent to the cube root of 10, giving the correct expression.

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Using the divisibilty rule put a check on the blank if the second number is a factor of the first number

436 4__
263 12__
2328 8__
346 4__
114 11__

Answers

Option (1) and (3) follows the divisibility rule.

The divisibility rule is a kind of shortcut that allows you to determine whether a given integer is divisible by a divisor by looking at its digits without going through the whole division process. Multiple divisibility rules can apply to the same number, allowing you to quickly determine its prime factorization. A divisor of a number is an integer that divides the number completely without leaving a remainder.  Divisible by 4 - The number formed by the last two digits of the number must be divisible by 4 or  00. Divisible by 8 - Numbers formed from the last three digits of a number must be divisible by 8 or  be 000. Divisible by 11 – The difference between the sums of the alternate digits of the number is divisible by 11. Divisible by 12 - Numbers that are divisible by both 3 and 4.

          109

(1)   4 \(\sqrt{436}\)

          -4    

            036

             - 36

                 0

As the remainder is zero , it is divisible .

(2)             21

        12\(\sqrt{263}\)

            - 24  

                 23

                - 12

                   11

As the remainder is 11 , it is not divisible .

(3)             291

           8\(\sqrt{2328}\)

             -16  

                72

              - 72    

                   08

                    - 8

                     0

As the remainder is 0 , it is divisible .

(4)           86    

        4\(\sqrt{346}\)

            -32  

                26

               - 24

                   2

As the remainder is 2 , it is not divisible

(5)           1

        11\(\sqrt{114}\)

            - 11  

                 4

As the remainder is 4 , it is not divisible

               

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In which quadrant is the point (-2, -9)?​

Answers

Answer:

3rd quadrant

Step-by-step explanation:

Given:

Point (-2, -9)

Computation:

In 1st quadrant (+ , +)

In 2nd quadrant (- , +)

In 3rd quadrant (- , -)

In 4th quadrant (+ , -)

So given point (-2, -9) is in 3rd quadrant.

? Answer it, this is a shape

? Answer it, this is a shape

Answers

Answer:

Yes

Step-by-step explanation:

It is gapless and is connected on all sides.

Hope I helped! If I am correct please mark brainleist! :)

WILL GIVE BRAINLIEST

WILL GIVE BRAINLIEST

Answers

Answer:

IT IS THE FIRST ONE 100%

Step-by-step explanation:

what is -3 increased by -9

Answers

Answer:

-12

Step-by-step explanation:

-3 + -9 = 12

hope this helps

Answer:

-12

Step-by-step explanation:

-3 + -9

turns into

-3 - 9

Which means on the number line, we start at -3 and move to the left 9 units.

When we move to left on the number line by 9, we are at -12.

Which means -3 - 9 (-3 + -9) = -12

Is (-5, -5) a solution to this system of equations?
=
y = -x - 7
y = x-3
yes
no

Is (-5, -5) a solution to this system of equations?=y = -x - 7y = x-3yesno

Answers

Answer:

no

Step-by-step explanation:

equate the two equations (make them equal to each other)

-2/5x - 7 = 2/5x - 3

get rid of the fractions by multiplying everything by 5

5(-2/5x - 7 = 2/5x - 3)

-2x - 35 = 2x - 15

solve

-2x - 35 = 2x - 15

-2x - 2x = -15 + 35

-4x = 20

x = -5

plug in "x" to one of the starting equations (I'm using the second one)

y = 2(-5) - 15

y = -10 - 15

y = -25

an easier way would be to plug in the point for "x" and "y"

-5 = 2(-5) - 15

-5 = -10 - 15

-5 = -25            FALSE

Answer correctly for brainlist

Answer correctly for brainlist

Answers

Answer:

Quadrilaterals

Step-by-step explanation:

How to solve the problem of equivalent fractions

How to solve the problem of equivalent fractions

Answers

1/2=1/2=1/2.is the value for the given equivalent fraction, by putting the value 3.4 in the numerators respectively

What is Equivalent Fraction?

The fractions with distinct numerators and denominators but the same value are said to be equivalent fractions.

For instance, since 2/4 and 3/6 both equal the 1/2, they are identical fractions. An element of a whole is a fraction. The same amount of the whole is represented by equivalent fractions.

1/2 =    /6 =   /8.

a. Multiply numerator and denominator by 3 for equivalenting the equation    /6

Therefore,

3*3/6*3

=9/18

=1/2

therefore:1/2=1/2.

b. Multiply numerator by 4

Therefore,

4/8

=1/2.

Therefore:

1/2=1/2.

1/2=1/2=1/2.

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The U.S. Postal Service is to deliver a letter to a certain postal ZIP 4 code. Find the probability that the ZIP 4 code is correct if the sender (a) randomly chooses the code, (b) knows the five-digit code but must randomly choose the last four digits, and (c) knows the five-digit code and the first two digits of the plus 4 code.

Answers

Answer:

State City ZIP Code(s)

Arizona (AZ) Phoenix 85001 thru 85055

Arkansas (AR) Little Rock 72201 thru 72217

California (CA) Sacramento Los Angeles Beverly Hills 94203 thru 94209 90001 thru 90089 90209 thru 90213

Colorado (CO) Denver 80201 thru 80239

Step-by-step explanation:

Hope This Helps!!!!!!!

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Would this decision have an impact on the Reg D rules that would govern the issuance of the firms securities? Describe. [Note: The material in Appendix B may be helpful in developing an answer to this question.]G. The other alternative is to seek to raise the total $2,750,000 amount now by selling securities to investors. Which Reg D rules and/or other securities laws would be triggered by such a plan? Describe why and how. which of the following statements about pharmacy-based vaccination programs is true? pharmacists in any state can administer a vaccine under a collaborative practice agreement. all states require pharmacists to have a signed standing order or protocol to administer vaccines. administratively, billing for vaccines covered by medicare part d may be easier for pharmacists than physicians. influenza vaccine programs are less likely to have initial high demand than other vaccine programs. In order for a government to function, it's citizens must be involved. Citizens must participate by ___________________ responsibly for those who represent their ideals. * Through , larger molecules are formed. 8+y=18 Suppose that the government is concerned that an electric utility company is taking advantage of consumers with unfair pricing policies. The government views electricity as a public good that is likely to be produced inefficiently by the private sector. Which of the following policy options might most effectively enable the government to achieve its objectives in this situation? a. Regulate the pricing behavior. b. Turn the company into a public enterprise. c. Use the law to increase competition.d. Do nothing at all. 13. This thick sweater should keep me warm in the snow.The bold part is an adjective phraseSelect one:a. False b. True For each of the following integrals, indicate whether integration by substitution or integration by parts is more appropriate. Do not evaluate the integrals.a. x^3/3+x^4dxb. x^2 e^x^3dxc. x^5 ln(x^6+ 5)dxd. 1/4x+1dxe. 3x^2 lnx dxf. ln(8x)dx _______ involves extending big, broad rows of crops across the slope of a hill, and _____ involves dividing a steep hill into small sections of flat fields. Buildings constructed for religious or spiritual worship can never be repurposed into other kinds of buildings. T/F art doesn't attempt to representreality accurately but instead uses shapes,colors, and forms to achieve an effect.Post-impressionistAbstractTonalistSurrealist