Ask Question
MathematicsMathematics
14 April, 09:58

You have a loan for $1000 at 7.65 APR 100 of the loan is due each month and there is a penalty of 2% on the original amount were not paid If you do not pay anything on that loan during the year and assuming there is no compounding how much will you owe in total

+1
Answers (1)
  1. 14 April, 10:30
    0
    Amount = 1000 (1 + 0.0765) = 1000 x 1.0765 = 1,076.50

    Penalty = 12 (0.02 x 1000) = 12 (20) = 240

    Total amount owed = 1,076.50 + 240 = $1,216.50
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You have a loan for $1000 at 7.65 APR 100 of the loan is due each month and there is a penalty of 2% on the original amount were not paid ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
12x+8-3x=-1 This is a multi-step equation
Answers (2)
J/k-0.02k when j=25 and k=5
Answers (1)
For a maximization problem, assume that a constraint is binding. If the original amount of a resource is 4 lbs. and the range of feasibility (sensitivity range) for this constraint is from 3 lbs. to 6 lbs.
Answers (1)
Which of the following represents a function? A. x - 10 - 8 - 3 - 3 y 16 14 16 15 B. x - 10 - 8 - 10 3 y 16 16 22 15 C. x - 10 - 8 - 3 3 y 16 14 22 16 D. x - 10 - 8 - 3 - 8 y 16 14 16 15
Answers (1)
What are some studying tips
Answers (2)
New Questions in Mathematics
An investor has an account with stock from two different companies. Last year, her stock in Company A was worth $6060 and her stock in Company B was worth $2300.
Answers (1)
Bijou has $72 in her savings account and plans to save $x each month for 8 months. The expression $8x+$72 represents the total amount in the account after 5 month. Factor the expression 8x+72
Answers (1)
How to write repeating 3.01 as a mixed number
Answers (1)
Sporting goods store recieved an order of 64 baseball caps, of which 16 were green. if 1 of 64 caps is selected at random what is the probability it will not green? A. 25%. B. 75%. C. 80%. D. 50%. 2.
Answers (2)
Tasha has 12 minutes. She wants to jump rope for 8 minutes and play tag for 5 minutes will tasha have enough time
Answers (2)
Home » Mathematics » You have a loan for $1000 at 7.65 APR 100 of the loan is due each month and there is a penalty of 2% on the original amount were not paid If you do not pay anything on that loan during the year and assuming there is no compounding how much will you
Sign Up Forgot Password?