Terry and Jim have two car loans totaling $ 26,004.
One loan has an annual percentage rate (APR) of 3.1 % and the other has an APR of 7%.
If the total interest they paid after one year is $1,481.25, what is the amount owed on each car?
(1 = PRT. Note t = 1 year).
Answer needed right away!! With explanation

Answers

Answer 1

The annual percentage rate is the interest rate for payment for the car

loan.

The mount owed on the car with an APR of 3.1% is approximately $8,693.08.

The mount owed on the car with an APR of 7% is approximately $17,310.92.

The given parameters are;

The amount of loan Terry and Jim have = $26,004

The annual percentage rate (APR) on one loan = 3.1 %

The annual percentage rate (APR) on the other loan = 7 %

Total interest paid after one year = $1,481.25

Required:

The amount owed on each car

Solution:

Let X represent the loan, with 3.1% APR, we have;

The other loan with 7% APR = 26,004 - X

Therefore;

0.031·X + 0.07·(26,004 - X) = 1,481.25

0.031·X + 1,820.28 - 0.07·X = 1,481.25

1,820.28 - 1,481.25 = 0.07·X - 0.031·X = 0.039·X

339.03 = 0.039·X

[tex]X = \dfrac{339.03}{0.039} \approx 8693.08[/tex]

Therefore;

The amount owed on the car with an APR of 3.1%, X ≈ $8,693.08

Therefore;

The amount owed on the car with an APR of 7% ≈ 26,004 - 8693.08 =

17310.92.

The amount owed on the car with an APR of 7% ≈ $17,310.92

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Answer:

$32

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16/2 is 8. So each pizza costs exactly 8 dollars. You have to do 4x8 which is 32

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Step-by-step explanation:

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The program is an illustration of loops.

Loops are used to perform iterative and repetitive operations.

The program where comments are used to explain each line is as follows:

public class MyProgram extends ConsoleProgram {

   public void run()     {

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Step-by-step explanation:

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I hope you have a wonderful day!

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Step-by-step explanation:

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Answer:

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2 1/3 x 3 = 7 cans (this the amount of cans of dog food she has)

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9 - 7 = 2

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wow that's really hard... :) greetings from South Korea My name is Naoyoung nei The abbreviation of Nanda is Naoyoung nei And the name DA is the name of my father and mother

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Answer:

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:)

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20 - 3 = 17

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Tell me if you want step by step explanation!

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Answer:

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Step-by-step explanation:

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Answer: 6
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Answer:

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Step-by-step explanation:

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= 81

Boom answer that's it

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What is proportion ?

A proportion is an equation based on the equality of two ratios.

Here it is given that :

A parking lot has total = 117 spaces

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Therefore, the ratio of empty spaces to filled spaces is 9 : 4.

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Answers

A scale drawing is a method of drawing that requires either increasing or decreasing the dimensions of a given object. So then, the actual width of the office floor is: 115.2 feet.

A representative factor is a factor the can be used to either increase or decrease the dimensions of an object. It is sometimes referred to as a scale factor.

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Answer:

115.2                                                                /\

Step-by-step explanation:                         /     \

What the person above me said.             /         \

(x + 1)(x - 1)
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you must use the distributive property

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12

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3 cube root of 15

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Simplifying procedures is one way to achieve uniformity in job efforts, expenses, and time. It reduces diversity and variation that is pointless, harmful, or unneeded. Parenthesis, exponents, multiplication, division, addition, and subtraction are all referred to as PEMDAS. The order of the letters in PEMDAS informs you what to calculate first, second, third, and so on, until the computation is finished, given two or more operations in a single statement.

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Answer:

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2 parks

Step-by-step explanation:

Answer:

20

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Answers

Answer:

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16.9 minus 13 equals to 3.9 increase

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3.9

Step-by-step explanation:

16.9 take away 13 and you get 3.9 kilograms

If right you get brainiest!
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Answers

Answer:

20 mph

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time = distance / speed

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Answer:

Applicants for the federal funding

Step-by-step explanation:

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Answer:

i don't know

Step-by-step explanation:

An experiment is conducted examining the effects of a new type of toothpaste on reducing cavities. Individuals in the treatment condition are given the new toothpaste; individuals in the control condition are given the standard toothpaste, but are told that they're receiving the new toothpaste. At the end of the experiment, the control group participants demonstrate a slightly higher decline in cavities. This is an example of a(n):____.
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The experimental effect highlighted by the scenario described would most likely be an example of placebo effect.

An observed change in the control group which are being given the placebo would have been triggered due to psychological expectation based on the information given. Hence, this is called the placebo effect.

The standard toothpaste was not suppose to cause decline in cavities, however, since the group have been told that they we given the new toothpaste which is said to reduce cavities, this could trigger a psychological change hence causing them to have higher cavity decline.

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