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)
What is the value of f(x) = 3x^2 - 2x + 7 for x = 4?
+
What is the domain and range of the logarithmic function f(x) = log x / f(x) = ln x?
+
Question: "If log base 2 of x equals 3, what is the value of x?"
+
New questions in Mathematics
A pump with average discharge of 30L/second irrigate 100m wide and 100m length field area crop for 12 hours. What is an average depth of irrigation in mm unIt?
The patient is prescribed a course of 30 tablets. The tablets are prescribed “1 tablet twice a day”. How many days does a course of medication last?
Calculate the equation of the tangent line ay=sin(x) cos⁡(x)en x=π/2
What’s 20% of 125?
(5u + 6)-(3u+2)=
If the midpoint of point A on the x=3 line and point B on the y=-2 line is C(-2,0), what is the sum of the ordinate of point A and the abscissa of point B?
A person borrows rm 1000 from a bank at an interest rate of 10%. After some time, he pays the bank rm 1900 as full and final settlement of the loan. Estimate the duration of his loan.
4x/2+5x-3/6=7/8-1/4-x
There are four times as many roses as tulips in Claire’s garden. Claire picked half of the number of roses and 140 roses were left in the garden. How many roses and tulips were in the Garden the first?
Suppose the Golf ball market is perfectly competitive and the functions are known: Q = 120 – 2Px – 2Py 0.2I Q = 2Px 40 Where I = Consumers' income ($200) and Py = Price of Good Y (40) Calculate the equilibrium elasticity: a) 1.6 b) -6 c) 6 d) 0.6
The ninth term of a given geometric progression, with reason q , is 1792, and its fourth term is 56. Thus, calculate the fourth term of another geometric progression, whose ratio is q +1 and whose first term is equal to the first term of the first P.G. described.
If X1 and X2 are independent standard normal variables, find P(X1^2 + X2^2 > 2.41)
30y - y . y = 144
Determine the increase of the function y=4x−5 when the argument changes from x1=2 to x2=3
Find each coefficient described. Coefficient of u^2 in expansion of (u - 3)^3
A teacher has 25 red and yellow counters altogether. She has 4 times as many red counters than yellow counters. How many yellow counters does the teacher have?
In a laboratory test, it was found that a certain culture of bacteria develops in a favorable environment, doubling its population every 2 hours. The test started with a population of 100 bacteria. After six hours, it is estimated that the number of bacteria will be:
X^X =49 X=?
Find the equation of a straight line that has slope 3 and passes through the point of (1, 7) . Write the equation of the line in general forms
-1/3x+15=18