Question

Mr. Jiménez requested a personal loan from Banca Progreso for $85,000. The credit was will pay in 36 biweekly installments of $2,782.79. Calculate the annual nominal interest rate that Mr. Jiménez pays for the credit

182

likes
912 views

Answer to a math question Mr. Jiménez requested a personal loan from Banca Progreso for $85,000. The credit was will pay in 36 biweekly installments of $2,782.79. Calculate the annual nominal interest rate that Mr. Jiménez pays for the credit

Expert avatar
Hank
4.8
105 Answers
El monto del préstamo es de $85,000.
El señor Jiménez va a realizar 36 abonos quincenales de $2,782.79 cada uno.

La tasa de interés nominal anual se puede calcular usando la siguiente fórmula:

Interés = Abono \times Numero\:de\:abonos - Monto

Donde:
- Interes es el total de los intereses pagados por el señor Jiménez.
- Abono es el monto de cada abono quincenal.
- Numero\:de\:abonos es la cantidad total de abonos realizados por el señor Jiménez.
- Monto es el monto total prestado.

Sustituyendo los valores conocidos:

Interés = 2782.79 \times 36 - 85000 = 10018.44

La tasa de interés nominal anual se puede calcular de la siguiente manera:

Tasa = \dfrac{Interés}{Monto} \times \dfrac{52}{36} \times 100

Sustituyendo los valores conocidos y el interés calculado anteriormente:

Tasa = \dfrac{10018.44}{85000} \times \dfrac{52}{36} \times 100 \approx 8.45\%

Entonces, la tasa de interés nominal anual que paga el señor Jiménez por el crédito es de aproximadamente 8.45\% .

$\boxed{8.45\%}$

Frequently asked questions (FAQs)
Question: How many triangles can be formed by connecting the vertices of a regular hexagon?
+
Math question: Find the length of the hypotenuse when the other two sides of a right triangle measure 7 and 24.
+
What is the value of the tangent ratio for an angle in degrees when sine equals 0.6?
+
New questions in Mathematics
Jose bought 3/4 of oil and his sister bought 6/8, which of the two bought more oil?
What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?
Suppose 56% of politicians are lawyers if a random sample of size 873 is selected, what is the probability that the proportion of politicians who are lawyers will be less than 55% round your answer to four decimal places
2x-4y=-6; -4y+4y=-8
A regional candy factory sells a guava roll at a price of $48, the monthly fixed costs amount to $125,000 and the variable cost for making a guava roll is $28. Determine: a) The equation of the total income from the production of guava rolls.
If f(x,y)=6xy^2+3y^3 find (∫3,-2) f(x,y)dx.
89, ÷ 10
3.24 ÷ 82
Use a pattern approach to explain why (-2)(-3)=6
Using the bank and exact method, calculate the interest on capital 10000 at 12% annual nominal interest rate for the period from 15.3. 2016 until 10/10/2016
Buffalo Company makes and sells shampoo. Each unit requires $1.40 labor costs, material costs per unit are $0.90 and other variable costs are $0.30. It sells shampoo for $4.45 to retailers. Fixed costs are $15,000. It sold 25,000 units in the current month. What is the Break-Even point in units? What is the Break-Even point in dollars? What is the contribution margin of Buffalo Company?
effectiveness of fiscal and monetary policy under closed and open economies
2x2
A diamond ring was reduced from $999.99 to $689.99. Find the percent reduction in the price. Round the answer to the nearest tenth of a percent, if necessary.
if y=1/w^2 yw=2-x; find dy/dx
a coffee shop has 9 types of creamer and 11 types of sweetener. In how any ways can a person make their coffee?
A candy manufacturer must monitor deviations in the amount of sugar in their products They want their products to meet standards. They selected a random sample of 20 candies and found that the sandard deviation of that sample is 1.7. What is the probabilty of finding a sample variance as high or higher if the population variance is actually 3277 Assume the population distribution is normal.
question 1 Consider a sample space S, and two events A and B such that P(A ∩ B) = 0.2, P(A ∪ B) = 0.6, P(B ∪ ̄A) = 0.8 (a) [0.5 points] Calculate P (A). (b) [0.5 points] Calculate P (B)
-1/3x+15=18
g(x)=3(x+8). What is the value of g(12)