Business, 06.11.2019 05:31 cash8812

You borrow $10,000 to build an extra bedroom onto your house. the loan is secured for 7 years at an annual interest rate of 11.5%. the monthly payment is $173.86. a. find the balance after the fourth payment. $ b. find the amount of the last payment.

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Answer from: justintsmith6415

balance after 4th payment $9684.05

balance after 85th payment $14.37

Explanation:

given data

borrow = $10,000

time = 7 year

annual interest rate = 11.5%

monthly payment = $173.86

solution

we know monthly interest will be here = $\frac{0.115}{12}$ = 0.0096

so here

balance after payment will be here

an = 1.0096 an-1 - 173.86 ........1

here 1.0096 is monthly interest

and monthly payment is subtract here

and an-1 is balance before payment

and an is balance after

so that

payment number balance after payment

1 9922.14

2 9843.53

3 9764.17

4 9684.05

..... ........

83 186.3

84 14.23

85 -159.49

so that balance after 4th payment will be = $9684.05

and balance after 85 payment is 173.86 - 159.49 = 14.37

Answer from: Quest

the earnings of a typical investor is around $1,000,000 to $10,000,000

hope this !

have a good day!

Answer from: Quest

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

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You borrow $10,000 to build an extra bedroom onto your house. the loan is secured for 7 years at an...

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