DS GID# G00 Save Draft Enail she GEN ED ASSESSMENT: MATH 1332 MATH 1332 (ud check Suppose you have a $60,000 loan with an annual percentage rate of 8% for 25 years. What are your required monthly payments? а. Vequreed monthly is PV=la0,000 N 25+12 USe APP 03.089 PMT- O 403.09 FV O b. Suppose you pay off the loan in 15 years, rather than 25. What are the required monthly payments? 573. 39 573.391 Compare the total amounts you pay over the loan term for the two с. scenarios. Senterices gher thar 3 Loan 25x 12 ansaver to A 138,927 103,210.2 Loan 2 1S x2x ansuer to B C6mpore d. What would be the effect of paying the required monthly rate and an additional $100 each month on the cost of the two loan? Page 1 Sentence Jentenes
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
I'm a college student taking Math 1332, our teacher gave us an assessment with multiple sections, and I currently got stuck on the last one, the answer I'm stuck on is in bold lettering. I'm also going to attach a pic of the paper in case I misspelled anything. On question D, I don't understand it because of the wording I believe.
My math problem is .. Suppose you have a 60,000 loan with an annual percentage rate of 8% for 25 years?
a. What are your required monthly payments and I put it in the TVM solver in the calculator and I got 463.09.
b. Suppose you pay off the loan in 15 years rather than 25, what are the required monthly payments? Again I put it in the TVM solver on a TI- 84 calculators, same information I just changed the years and I got 573.391.
c. Compare the total amounts you pay over the loan term for the two scenarios.
Loan 1: 25 x 12 x 463.09= 138,927
Loan 2: 15 x 12 x 573.39= 103,210.2
d. What would be the effect of paying the required monthly rate and an additional 100 each month on the cost of the two loans?
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