Veronica has two offers for a $65,000 student loan. The first loan has a 6.3% interest rate for 15 years, and the second loan has a 4.8% interest rate for 20 years. Both loans have interest compounded every month. Veronica is interested in finding the loan that minimizes the amount of interest that she will pay over the life of the loan. Which loan has a lower amount of interest paid?

Answers

Answer 1

The second option has a lower amount of interest paid.

In order to determine the loan option that minimizes loan payment, the future value of both loan options has to be determined.

FV = P (1 + r)^nm

FV = Future value  

P = Present value  

R = interest rate  

m = number of compounding

N = number of years  

First loan option

65000( 1 + 0.063/12)^300 = 312,707.21

Second loan option

65000( 1 + 0.048/12)^240 = 169,435.51

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Related Questions

A 5 ounce container of greek yogurt contains 140 calories . Find the unit rate of calories per ounce

Answers

28 calories an ounce.

Last year, 46% of business owners gave a holiday gift to their employees. A survey of business owners conducted this year indicated that 35% plan to provide a holiday gift to their employees. Suppose the survey results are based on a sample of 60 business owners. a. How many business owners in the survey plan to provide a holiday gift to their employees this year

Answers

The business owners that would provide a holiday gift to their employees this year is 21.

Percentage are a measure of frequency. It is the fraction of an amount that is usually expressed as a number out of hundred.

In order to determine the business owners that would provide a holiday gift to their employees this year, multiply the percentage of business owners that indicated they plan to give gifts by the total number of people surveyed.

35% x 60

0.35 x 60 = 21 people

To learn more about percentages, please check: https://brainly.com/question/92258

A company produces electric insulators. The strength of the insulators is important since a broken insulator may cause a short circuit. Unfortunately, the strength varies significantly due to the material. Because of the expense, only a limited number of insulators could be tested. The engineers sampled 25 insulators (From a production run of 200), and conducted a destructive test to determine the force that was required to break the insulators. The mean value of this force was 1723 lbf with a sample standard deviation of 90 lbf. You may approximate the population standard deviation with the sample standard deviation for the following questions.
a. Determine if the population is large enough or if a finite population correction (FPC) factor is needed. If so, what is the FPC factor?
b. For 95% confidence, determine the margin of error (+ lbf)
c. For these conditions, estimate the range of the probable population mean. Provide lower and upper values. For 95% confidence, determine the margin of error ( Assume the same mean and sample standard deviation. What is one advantage and one disadvantage of using 50 insulators instead of 25 insulators?
d. lbf) if 50 insulators were tested.

Answers

Answer:

A company produces electric insulators. The strength of the insulators is important since a broken insulator may cause a short circuit. Unfortunately, the strength varies significantly due to the material. Because of the expense, only a limited number of insulators could be tested. The engineers sampled 25 insulators (From a production run of 200), and conducted a destructive test to determine the force that was required to break the insulators. The mean value of this force was 1723 lbf with a sample standard deviation of 90 lbf. You may approximate the population standard deviation with the sample standard deviation for the following questions. a. Determine if the population is large enough or if a finite population correction (FPC) factor is needed. If so, what is the FPC factor? b. For 95% confidence, determine the margin of error (+ lbf) c. For these conditions, estimate the range of the probable population mean. Provide lower and upper values. For 95% confidence, determine the margin of error ( Assume the same mean and sample standard deviation. What is one advantage and one disadvantage of using 50 insulators instead of 25 insulators? d. lbf) if 50 insulators were tested.

Step-by-step explanation:

Given the following list of data, what is the five-number summary?
10, 12, 13, 13, 14, 16, 16, 18, 18, 18, 18

Answers

It would be 18 or if you added all of it up and then divided by that number and how many numbers you have
16 +14/2=30/2
The answer is 15

Can someone write the equation of the line that passes through the points ( -3, 2) and ( -1, 6)? I suck at math and need help.

Answers

Answer:

Y=2x+8

Step-by-step explanation:

Plot points on graph and connect with line. Find slope and y intercept

Find the equation of the normal to the curve y=x+x-2 at the point x = 2.​

Answers

Answer:

(2,1)

Step-by-step explanation:

Solve the quadratic by factoring: 3x^2+36x+33=0

Answers

Answer:

= − 11

Step-by-step explanation:

i need help with 2-5 in solving it.

Answers

Answer:

I can recommend you searching onlime

solve pls brainliest

Answers

answer I think it

21/16

hop it helps

16/21
lovely to help

What is 10 1/2 divided by 2 1/4

Answers

Answer:

14/3 or 4 2/3

Step-by-step explanation:

10 1/2 => 21/2

2 1/4 => 9/4

21/2 divided by 9/4

(Keep, Change, Flip)

21/2 * 9/4

Cross Simplify = 21 becomes 7 and 9 becomes 3. 2 becomes 1 and 4 becomes 2.

7/1 *2/3 = 14/3 = 4 2/3

(1/2)power 5=?? please help with this one

Answers

Answer:

2.2360679774998

Step-by-step explanation:

SOMEONE PLS HELP LIKE IM SO FAWKIN DESPRETE [Image: Vertical number line ranging from negative 5 to 5.]

On this number line, zero represents sea level. Plot the following points based on the description provided.

• opposite of 4

Answers

answer 1:If on a number line, to the right of zero but if not and you’re trying to oppose it, it’s -1.

answer 2:since the absolute values do not apply to positive numbers because the absolute value of say 5 is still five. But the absolute value of -5 is 5.

the absolute value of 1 is 1

so it is 1 unit above sea level

|_._._._._._._._._._._._|

-5,-4,-3,-2,-1,0,1,2,3,4,5

Please help, geometry hw

Answers

Step-by-step explanation:

use SOHCAHTOA as shown above in the picture

I realized that this was our own electric light for us to turn on and off as we pleased. I pushed a chair under it and after some instruction from my mother proceeded to create lightning in the room by turning the switch as fast as I could. After reading the passage from Barrio Boy, describe how the author uses connotations and figurative language to make his experience come to life.
NEED ANSWERS SOON AS COULD ​

Answers

What’s the question?

How many solutions does the system of equations below have? ​ ​(PLEASE HELP)
y=−9x−2
y=−9x−2

Answers

Answer:

y= -54-2

y= -56 &

x= -54/ -9

x= 6

Step-by-step explanation:

y= -9x-2

-9x= y+2 divide bothe side by -9

x=y+2/-9

y= -9(y+2/ -9) -2 = (y+2)-2

y= -2(y+2)

y= -2y-4

y+2y= -4

3y= -4 divide bothe side by 3

y= -4/3

x=y+2/ -9

x= -4/3+2/-9

x= -2/3× -9

x=18/3

x=6

What is the solution to the following equation?
2(3х – 7) + 18 = 10

Answers

[tex]⇒2(3x - 7) + 18 = 10 \\ 6x - 14 + 18 = 10 \\ 6x - 32 = 10 \\ 6x = 10 + 32 \\ 6x = 42 \\ x = \frac{42}{6} \\ x = 7[/tex]

Answer:

x = 1

Step-by-step explanation:

2(3x - 7) + 18 = 10 ( subtract 18 from both sides )

2(3x - 7) = - 8 ( divide both sides by 2 )

3x - 7 = - 4 ( add 7 to both sides )

3x = 3 ( divide both sides by 3 )

x = 1

pls pls help i’ll mark brainliest quickly!!!
Part A: The number of cubic feet of water, y, in a pool 2 hours after the water starts flowing into the pool is a linear function. The points (40,3000) and (60,4000) lie on the line of the function. Calculate the slope of the line.

Part B: What does the slope of the line represent in Part A? Explain in your own words and use compete sentence.

Part C: Explain how the slope formula is related to the definition of slope. Use complete sentences.

Answers

Answer:

m=50

General Formulas and Concepts:

Pre-Alg

Order of Operations: BPEMDAS

Algebra I

Slope Formula:

Step-by-step explanation:

Step 1: Define

Point (40, 3000)

Point (60, 4000)

Step 2: Find slope m

               

Fiill in the table using this function rule. Y=-3x+3

Answers

Answer:

3(x+1)

Step-by-step explanation:

Simpson office furniture pays Tom Russell a $2490 monthly salary plus a 9% commission on merchandise he sells each month .Assume Tom's sales were $88,000 for last month.​

Answers

Answer:

Amount Tom was paid for his sales last month 88,000 x9%= $7920.00

Step-by-step explanation:

nos
5. In the diagram above, zero represents the location of Martin Luther King Middle School Point K represents the
library, which is located to the east of the middle school. In words, create a real-world situation that could
represent point L, and describe its location in relation to 0 and point K.

Answers

Answer:

1/12

Step-by-step explanation:

How many numbers are prime between 40 and 50?

Answers

Step-by-step explanation:

Correct answer:

(The primes between 40 and 50 are 41, 43, and 47 - three.

Ali has q quarters. Tom has four more quarters than Ali.



Drag and drop the expressions into the boxes to write an expression that represents the number of quarters Ali and Tom have together.

Response area + Response area

Answers

Answer: x(.25)+(4+x(.25))=y

Step-by-step explanation:

1. set up the equation-

Ali has an unknown amount of quarters so make that x.

We know quarters are 25 cents so .25 if he has one quarter you put that one quarter into x, 2 into x and so on

Tom has 4 more, since he has 4 more it is 4+x and one again times .25

2. that is it

write this number in expanded form three hundred thirty nine thousand six

Answers

Answer:

339,006

Step-by-step explanation: i think

Answer:

300,000 + 30,000 + 9,000 + 6

Step-by-step explanation:

hope this helps. . . <3

good luck!       UwU

Rico opens an ice cream shop. The function f ff models the shop's net worth (in thousands of dollars) as a function of time (in months) after Rico opens it. Plot the point on the graph of f ff that corresponds to the shop's net worth when Rico opens it.

Answers

Answer: -5

Step-by-step explanation:

Based on the graph given, the point that on the graph that corresponds with the shop's net worth when Rico opened it is -5.

What was the shop worth when it was opened?

The point that the shop was opened is represented by the value of the y axis when it was first crossed.

Looking at the graph, the line first intercepted the y axis at -5 which means that this was the shop's net worth when it was opened by Rico.

Find out more on quadratic functions at https://brainly.com/question/11631534.

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=
A student earns $11 per hour for tutoring and $9 per hour as a teacher's aid. Let x = the number of hours each week spent tutoring and y = the number of hours each
week spent as a teacher's aid.
Complete parts (a) through (e)
a. Write the objective function that describes total weekly earnings

Answers

Answer:

Total weekly earning = 11x + 9y

Step-by-step explanation:

(a) 11x + 9y = Total weekly earning

The required objective function is 11x + 9y which describes the total weekly earnings.

What is the Linear function?

A linear function is defined as an equation in which the highest exponent of the variable is always one.

We have been given that a tutor makes $11 per hour while a teacher's aide receives $9 per hour.

Let's assume that x represents the number of hours each week spent tutoring and

y represents the number of hours each week spent as a teacher's aide.

According to the given information, we can write the linear function would be as:

⇒ 11x + 9y

Therefore, the required objective function is 11x + 9y which describes the total weekly earnings.

Learn more about the Linear functions here:

https://brainly.com/question/13738061

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What is the approximate length of arc s on the circle below? Use 3.14 for r. Round your answer to the nearest
tenth

Answers

Answer:6.3 i believe

Step-by-step explanation:

Answer:

6.3

Step-by-step explanation:

circumference = 2πr

arc length  = (included angle/360) * circumference

as an equation

s = (θ/360) * 2πr

s = (θ/180)πr

---------------------------

θ = 45

r = 8

s = (45/180) * 3.14 * 8

s = 6.28

rounded

s = 6.3

can someone heelp me plz

Answers

Answer is D) Fluid ounce

What is the value of x in this triangle?




56.51°


.58°


28.89°


33.49°

Answers

Answer:

  x = 33.49°

Step-by-step explanation:

The relevant trig ratio is the sine:

  Sin = Opposite/Hypotenuse

  siin(x) = 32/58

The angle measure is found using the inverse function:

  x = arcsin(32/58) ≈ 33.49°

Answer:

i got 32 is it 32 cause i put 33 cause it was closer

Step-by-step explanation:

What is the equation of this line?
y= 1/2+2
y = 2x + 2
y= 1/2x-2
y = 2x - 2




HELP ME PLEASEEE ILL GIVE BRAINLIEST

Answers

Answer:

y=2x-2

You use rise/run in this problem

Which ratio is equivalent to the given ratio? 8: 16 Select each correct answer. 16/31 1/3 1/2 12/24

Answers

[tex]8:16\implies \cfrac{8}{16}\implies \cfrac{1}{2}\implies 1:2 \\\\[-0.35em] ~\dotfill\\\\ \cfrac{16}{31}\qquad \bigotimes~\hfill \cfrac{1}{3}\qquad \bigotimes~\hfill \cfrac{1}{2}\qquad \textit{\large \checkmark}~\hfill \cfrac{12}{24}\implies \cfrac{1}{2}\qquad \textit{\large \checkmark}[/tex]

Answer:

1/2. and 12/24

they are both halves just as the ratio is half of the given number

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