Willard Hudson took out a simple interest loan of $6,000.00 at 10 percent interest for 24 months. His monthly payment is $276.60 After 4 payments the balance is $5,082.21. He pays off the loan when the next payment is due. What is the interest? What is the final payment? How much is saved by paying the loan off early?

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  a) $42.35

  b) $5124.56

  c) $407.44

Step-by-step explanation:

a) The interest due is that for one month on the remaining balance:

  I = Prt

  I = $5082.21·0.10·1/12 = $42.35

__

b) The final payment is ...

  $5082.21 +42.35 = $5124.56

__

c) Had Hudson continued paying, he would have paid ...

  20·$276.60 = $5532.00

So, he saved ...

  $5232.00 -5124.56 = $407.44

the answer is 510

step-by-step explanation:

15 • 13 = 195

15 • 12 = 180

15 • 5 = 75

12 • 5 = 60

195 + 180 = 375

375 + 75 = 450

450 + 60 = 510

geometric series converge the common ratio r has magnitude less than one.

which is equivalent to

for the example we need

|2-x| < 1

-1 < 2-x   and 2-x < 1

x < 3 and x > 1

we can write that

answer: 1 < x < 3

1a. common ratio r=250/25=10 > 1     diverges

1b.   r=50/100=1/2 converges

when these converge they converge to

where a is the first term.

answer: 200

1c. r=-1   so it's not the case that |r| < 1.     diverges

2a. x is the common ratio so we converge when |x|< 1

2b.   r=-10x / -2 = 5x.

we converge when

|5x| < 1

|x| < 1/5

2c.   r=3-2x

-1 < 3-2x and 3-2x < 1

-4 < -2x and 2 < 2x

x < 2 and 1 < x

1 < x < 2

2d. [/tex] r=-48x^3/12 = 4x^3[/tex]

|4x^3| < 1

|x^3| < \frac 1 4

|x| < 4^{-1/3}