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
106 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)
Math Question: Evaluate log(base 5)(125) - log(base 5)(25) + log(base 3)(81) using logarithmic properties.
+
What is the equation of an exponential function that passes through the point (2, 8) and has a horizontal asymptote at y = 3?
+
What is the volume of a rectangular solid given length (l), width (w), and height (h)?
+
New questions in Mathematics
A particular employee arrives at work sometime between 8:00 a.m. and 8:50 a.m. Based on past experience the company has determined that the employee is equally likely to arrive at any time between 8:00 a.m. and 8:50 a.m. Find the probability that the employee will arrive between 8:05 a.m. and 8:40 a.m. Round your answer to four decimal places, if necessary.
-x+3x-2,si x=3
To calculate the probability that a player will receive the special card at least 2 times in 8 games, you can use the binomial distribution. The probability of receiving the special card in a single game is 1/4 (or 25%), and the probability of not receiving it is 3/4 (or 75%).
11(4x-9)= -319
A car tire can rotate at a frequency of 3000 revolutions per minute. Given that a typical tire radius is 0.5 m, what is the centripetal acceleration of the tire?
Let X be a discrete random variable with range {1, 3, 5} and whose probability function is f(x) = P(X = x). If it is known that P(X = 1) = 0.1 and P(X = 3) = 0.3. What is the value of P(X = 5)?
What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?
A car that starts from rest moves for 11 min, reaching a speed of 135 km/h, calculate the acceleration it had
The mean temperature for july in H-town 73 degrees fahrenheit. Assuming that the distribution of temperature is normal what would the standart deviation have to be if 5% of the days in july have a temperature of at least 87 degrees?
Divide 22 by 5 solve it by array and an area model
Suppose you have a sample of 100 values from a population with mean mu = 500 and standard deviation sigma = 80. Given that P(z < −1.25) = 0.10565 and P(z < 1.25) = 0.89435, the probability that the sample mean is in the interval (490, 510) is: A)78.87% B)89.44% C)10.57% D)68.27%
Determine the increase of the function y=4x−5 when the argument changes from x1=2 to x2=3
The probability of growing a seedling from a seed is 0.62. How many seeds do I need to plant so that the probability of growing at least one seedling is greater than or equal to 0.87?
Sections of steel tube having an inside diameter of 9 inches, are filled with concrete to support the main floor girder in a building. If these posts are 12 feet long and there are 18 of them, how many cubic yards of concrete are required for the job?
Let x be an integer. Prove that x^2 is even if and only if is divisible by 4.
solid obtained by rotation around the axis x = -1, the region delimited by x^2 - x + y = 0 and the abscissa axis
You buy a $475,000 house and put 15% down. If you take a 20 year amortization and the rate is 2.34%, what would the monthly payment be?
2+2020202
Write decimal as the fraction 81/125 simplified
(3.1x10^3g^2)/(4.56x10^2g)