Concept explainers
Finance Charges When a loan is paid off early, a portion of the finance charge must be returned to the borrower. By one method of calculating the finance charge (called the rule of 78), the amount of unearned interest (finance charge to be returned) is given by
where u represents unearned interest, f is the original finance charge, n is the number of payments remaining when the loan is paid off, and q is the original number of payments. Find the amount of the unearned interest in each of the given cases.
Original finance charge = $1400, loan scheduled to run 48 months, paid off with 12 payments remaining
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Mathematics with Applications and Mylab Math with Pearson EText -- Title-Specific Access Card Package
- Q5: Solve the system x = A(t)x(t) where A = -3 0 0 03-2 0 1 1/arrow_forwardQ3: Solve the system x = A(t)x(t) where A = 1 1 -2 2 1 -1 01 - -1. (10M)arrow_forward17. Suppose that X1, X2,..., Xn are random variables, such that E|xk| < ∞ for all k, and set Yn = max1arrow_forward6. Show that, for any random variable, X, and a > 0, L P(x < X ≤ x+a) dx = a. 2015arrow_forward15. This problem extends Problem 20.6. Let X, Y be random variables with finite mean. Show that (P(X ≤ x ≤ Y) - P(Y < x ≤ X))dx = E Y — E X.arrow_forwardCould you please solve this question by sketching a graph to find the region of integration and the bounds of the integralarrow_forwardTheorem: Xo is critical point of x° = F(x) iff F(x)=0arrow_forward2. Which of the following statements are (not) true? lim sup{An U Bn} 818 lim sup{A, B} 818 lim inf{An U Bn} 818 818 lim inf{A, B} An An A, Bn- A, BnB →B = = = lim sup A, U lim sup Bn; 818 818 lim sup A, lim sup Bn; 818 81U lim inf A, U lim inf Bn; 818 818 lim inf A, lim inf Bn; n→X 818 An U BRAUB as no; An OBRANB as n→∞.arrow_forwardHelp me with the accurate answer and solution asap pls pls thank yo uarrow_forwardPls help me with accurate answer and solution as soon as possible pls thank youarrow_forwardHelp me with step by step solution and accurate answer as soon as possible plsarrow_forwardThroughout, A, B, (An, n≥ 1), and (Bn, n≥ 1) are subsets of 2. 1. Show that AAB (ANB) U (BA) = (AUB) (AB), Α' Δ Β = Α Δ Β, {A₁ U A2} A {B₁ U B2) C (A1 A B₁}U{A2 A B2).arrow_forwardarrow_back_iosSEE MORE QUESTIONSarrow_forward_ios
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
- Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning