The Kato family takes out a $30,000 home improvement loan. The loan has an annual interest rate of 6.5%. If the loan is paid back over 12 years instead of 10 years, how much more interest will they pay?
1 answer
Question:
The Kato family takes out a $30,000 home improvement loan. The loan has an annual
interest rate of 6.5%. If the loan is paid back over 12 years instead of 10 years, how
much more interest will they pay?
interest rate of 6.5%. If the loan is paid back over 12 years instead of 10 years, how
much more interest will they pay?
Answers
Answer:$3900Step-by-step explanation:Given dataP= $30,000r= 6.5%t= 10 yearst= 12 yearsLet us find the SI interest after 10 yearsSI= PRT/100SI= 30000*6.5*10/100SI= 1950000/100SI= 19500Let us find the SI interest after 12 yearsSI= PRT/100SI= 30000*6.5*12/100SI= 2340000/100SI= 23400The extra amount paid is =23400- 19500=$3900
Similar Solved Questions
1 answer
Explain how rudy francisco uses figurative language to enhance the message in his poem, seventeen. support your answer with evidence from the text
explain how rudy francisco uses figurative language to enhance the message in his poem, seventeen. support your answer with evidence from the text...
1 answer
Students use alphabet letters to represent the genetic instructions for a trait of an organism. The students write these alphabet letter in graphic organizers. The students are trying to show genetic instructions passing from parent to offspring. Which graphic organizer does NOT represent asexual reproduction?
Students use alphabet letters to represent the genetic instructions for a trait of an organism. The students write these alphabet letter in graphic organizers. The students are trying to show genetic instructions passing from parent to offspring.
Which graphic organizer does NOT represent asexual r...
1 answer
In the country of 2, citizens are restricted from moving out of the strata they are born into. Also, individuals are allowed to engage only in the same occupation as their parents. The system of social stratification being practiced in 2 can be identified as a:_____. a. Cluster system b. Caste system c. Merit-based system d. Class system e. Bureaucracy-based system
In the country of 2, citizens are restricted from moving out of the strata they are born into. Also, individuals are allowed to engage only in the same occupation as their parents. The system of social stratification being practiced in 2 can be identified as a:_____.
a. Cluster system
b. Caste sys...
1 answer
7. Speeding increases the distance needed to be able to stop the car and limits reaction time needed to avoid a potential collision.
7. Speeding increases the distance needed to be able to stop the car and
limits reaction time needed to avoid a potential collision....
2 answers
Define "internal clue" of someone's culture.
Define "internal clue" of someone's culture....
1 answer
¿Que importancia tiene el rol del emisor y el receptor en el proceso comunicativo?
¿Que importancia tiene el rol del emisor y el receptor en el proceso comunicativo?...
1 answer
Who would most avoid showing details in a painting?
Who would most avoid showing details in a painting?...
1 answer
Which of the following is NOT a reason the French attacked the Bastille? A. They were hungry B. They were angry C. They saw it as a symbol of the king D. They wanted to free everyone
Which of the following is NOT a reason the French attacked the Bastille?
A. They were hungry
B. They were angry
C. They saw it as a symbol of the king
D. They wanted to free everyone...
1 answer
HELP!! describe how primary producers and all consumers obtain energy and nutrients
HELP!!
describe how primary producers and all consumers obtain energy and nutrients...
1 answer
Bellwork welcome activity: what role does social media play in your life? how are you on it?
bellwork welcome activity: what role does social media play in your life? how are you on it?...
1 answer
An atom has a mass of 24 and a nuclear charge of 12. Which statement about the atom is accurate?
An atom has a mass of 24 and a nuclear charge of 12. Which statement about the atom is accurate?...
2 answers
How would I answer “Qui est le president du Cameroun?” Using the verb savoir? Please help :(
How would I answer “Qui est le president du Cameroun?” Using the verb savoir? Please help :(...
2 answers
Please help me find the slope of the line graphed below ! (will mark brainliest) and spammers will be reported.
please help me find the slope of the line graphed below ! (will mark brainliest) and spammers will be reported....
2 answers
Fernando: ?Qué hiciste la semana pasada? Alberto: La semana pasada, yo ________ a la playa. A. Fue B. Fuiste C. Fui D. Fuimos
Fernando: ?Qué hiciste la semana pasada? Alberto: La semana pasada, yo ________ a la playa. A. Fue B. Fuiste C. Fui D. Fuimos...