Mathematics, 01.07.2020 16:01 EnternalClipz

A restaurant borrows from a local bank for months. The local bank charges simple interest at an annual rate of for this loan. Assume each month is of a year. Answer each part below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find the interest that will be owed after 4 months
(b) Assuming the restaurant doesn't make any payments, find the amount owed after 4 months

Answers: 1

Show answers

Answers

Answer from: MengXiong1

Complete Question:

A restaurant borrows $16,100 from a local bank for 4 months. The local bank charges simple interest at an annual rate of 2.45% for this loan. Assume each month is 1/12 of a year.

Answer each part below.Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas.

(a) Find the interest that will be owed after 4 months

(b) Assuming the restaurant doesn't make any payments, find the amount owed after 4 months

a) Interest that will be owed after 4 months , I = $131.48

b) Amount owed by the restaurant after 4 months = $16231.48

Step-by-step explanation:

Note that the question instructs not to round any intermediate computations except the final answer.

Annual rate = 2.45%

Monthly rate, $R = \frac{2.45\%}{12}$

R = 0.20416666666%

Time, T = 4 months

Interest, $I = \frac{PRT}{100}$

$I = \frac{16100 * 0.20416666666 * 4}{100} \\I = 161 * 0.20416666666 * 4\\I = \$131.483333333\\I = \$131.48$

b) If the restaurant doesn't make any payments, that means after four months, they will be owing both the capital and the interest ( i.e the amount)

Amount owed by the restaurant after 4 months = (Amount borrowed + Interest)

Amount owed by the restaurant after 4 months = 16100 + 131.48

Amount owed by the restaurant after 4 months = $16231.48

Answer from: Quest

9.55 degrees.

step-by-step explanation:

the given angle is $\frac{31\pi}{6}=5.166667\pi$

1 cycle is equal to 2π radians. so 4π will be equal to two cycles.

5.166667π-4π = 1.166667π

hence, this angle goes a little more than negative x axis.

1.166667π-π= 0.166667π

hence, the reference angle is 0.166667π radians.

1 radian = 57.2958 degrees

now, in degrees, this should be equals to 9.55 degrees.

Answer from: Quest

1. 0.3 •4 is the same as 4 groups of 0.32. 7•0.8 is the same as 7 groups of 0.83. it increases by 0.5 every time, so 0.5x4 it increases by 0.9 every time, so 0.9x5. 0.9•12=10.86. 0.47•5=2.35i can finish the next ones in a separate post
Can someone plz me 1 to 37 . i will earn 10 points

Can someone plz me 1 to 37 . i will earn 10 points

Another question on Mathematics

Mathematics, 21.06.2019 18:30

The base of a triangle exceeds the height by 9 inches. if the area is 180 square inches, find the length of the base and the height of the triangle.

Answers: 3

Answer

Mathematics, 21.06.2019 18:30

Hii1977 cleaner shrimp are a species of shrimp that clean parasites from other organisms. fish allow the shrimp to eat the parasites in their mouth. the shrimp get a source of nutrition. the relationship between the shrimp and the fish is this association indicates that for the smaill aneser arecommensal,mutualistic,or parasitic for the begger one the anser are the shrimp and fish benefit each other , the shrimp harm the fish, or the fish do not benetit from the shrimp

Answers: 3

Answer

Mathematics, 21.06.2019 19:30

Write the expression 7x^3-28xy^2 as the product of 3 factors

Answers: 2

Answer

Mathematics, 21.06.2019 20:00

Aconstruction worker has rope 9 m long he needs to cut it in pieces that are each 3 /5 m long how many such pieces can he cut without having any rope leftover?

Answers: 3

Answer

You know the right answer?

A restaurant borrows from a local bank for months. The local bank charges simple interest at an annu...

Questions

Mathematics, 23.03.2021 22:00

Okay so- this has nothing to do with school but can someone help me figure out what this is from