Mathematics, 02.12.2019 00:31 tasa123l14

The total of monthly payments for a three-year loan is $22,317.12. the apr is 4%. how much money was originally borrowed?

Answers

Answer from: Nicky156

$717336

Step-by-step explanation:

The total of monthly payments for a 3-year loan is $22317.12.

So, the total amount has to pay back in 3 years is $(22317.12 × 12 × 3) = $803416.32.

Let the amount of money that was originally borrowed is $x and the given APR is 4%.

Then we can write, $x(1 + \frac{4 \times 3}{100}) = 803416.32$

⇒ 1.12x = 803416.32

⇒ x = $717336 (answer)

Answer from: Quest

cells do need food. in a process known as cellular respiration, cells convert biochemical energy (oxygen as food) from nutrients into adenosine triphosphate (atp), and then release waste products.

hope this .. : d

Answer from: Quest

step-by-step explanation:

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The total of monthly payments for a three-year loan is $22,317.12. the apr is 4%. how much money was...