52.0k views
4 votes
Nellie has a bankruptcy on her credit report and therefore pays higher interest rates on her current loans. She took out a car loan for $45,000 payable for 6 years at an interest rate of 15%. If she had not applied for bankruptcy, she would have been able to take out the loan at a rate of 6%. Approximately how much more in interest over the life of the loan does Nellie have to pay? a. $68,510.16 b. $53,696.16 c. $32,206.32 d. $14,814.00

User Jregnauld
by
5.3k points

2 Answers

3 votes

Final answer:

In a series circuit with multiple identical bulbs, the total voltage is divided evenly among the bulbs, so if a 30V battery is connected to three identical bulbs, each bulb receives 10V. If an old-style bulb in a series circuit burns out, the circuit opens and all bulbs go out; if a newer short-circuiting bulb burns out, the remaining bulbs receive slightly more voltage.

Step-by-step explanation:

If the voltage of the battery in the series circuit is 30V and there are multiple bulbs in the circuit, the voltage across each bulb will depend on how many bulbs are in the series. Assuming that the bulbs are identical and the internal resistance of the battery is negligible, the voltage will be evenly divided across each bulb. So, if we have, for instance, three bulbs, each bulb would receive 10V.

In a series circuit where some holiday lights are used, if an old version of a bulb that operates like an open switch when it burns out fails, the entire series is interrupted, and all bulbs would go out. Conversely, with newer versions where bulbs short circuit (operate like a closed switch) upon failure, the rest of the lights remain operational, but the voltage across each of the remaining bulbs would increase slightly, since the total resistance of the circuit would decrease.

For example, if a string operates on 120V and has 40 identical bulbs, each bulb would normally have an operating voltage of 3V (120V/40 bulbs). If one bulb burns out and it's a newer bulb that short circuits, now 39 bulbs must share the 120V, so each bulb would have approximately 3.08V (120V/39 bulbs).

Final answer:

In a series circuit with multiple identical bulbs, the total voltage is divided evenly among the bulbs, so if a 30V battery is connected to three identical bulbs, each bulb receives 10V. If an old-style bulb in a series circuit burns out, the circuit opens and all bulbs go out; if a newer short-circuiting bulb burns out, the remaining bulbs receive slightly more voltage.

Step-by-step explanation:

If the voltage of the battery in the series circuit is 30V and there are multiple bulbs in the circuit, the voltage across each bulb will depend on how many bulbs are in the series. Assuming that the bulbs are identical and the internal resistance of the battery is negligible, the voltage will be evenly divided across each bulb. So, if we have, for instance, three bulbs, each bulb would receive 10V.

In a series circuit where some holiday lights are used, if an old version of a bulb that operates like an open switch when it burns out fails, the entire series is interrupted, and all bulbs would go out. Conversely, with newer versions where bulbs short circuit (operate like a closed switch) upon failure, the rest of the lights remain operational, but the voltage across each of the remaining bulbs would increase slightly, since the total resistance of the circuit would decrease.

For example, if a string operates on 120V and has 40 identical bulbs, each bulb would normally have an operating voltage of 3V (120V/40 bulbs). If one bulb burns out and it's a newer bulb that short circuits, now 39 bulbs must share the 120V, so each bulb would have approximately 3.08V (120V/39 bulbs).

User Taha EL BOUFFI
by
6.3k points
6 votes

Answer:

I cracked the code on my journey to find the correct answer to this problem

The answer is D or $14,814.00

Step-by-step explanation:

This is more than simple interest, this is something to do with amortization

this is a monthly payment calculator for a car loan


A=p\cdot(\left(r\left(r+1\right)^(n)\right))/(\left(\left(1+r\right)^(n)-1\right))\\

This isn't exactly what we are looking for since we aren't looking for monthly payments but this can still help.

So our variables are
p=45,000, where p is for principle

r is the loan rate in monthly terms or divide the interest by 12 which is
r=0.0125 for when 15% is interest and
r=0.0005 when 6% is interest.

and n is years times 12 or monthly periods involved so
n=72

so our equation is
45000\cdot(\left(0.00125\left(0.00125+1\right)^(72)\right))/(\left(\left(1+0.00125\right)^(72)-1\right))

which is equal to 951.53

This number is our monthly payment

so for the full cost is
951.53*12*6

that equals 68510.16

now for when interest is equal to 6%


45000\cdot(\left(0.0005\left(0.0005+1\right)^(72)\right))/(\left(\left(1+0.0005\right)^(72)-1\right))

this is equal to
745.78*12*6

so for the full cost is

so the extra interest is equal to the larger number minus the smaller one


68510.16-53696.16

which equals

14,814.00 exactly

*mic drop

User Joseph Mathew
by
4.4k points