Monica took out a 30-year loan for $130,000 at an apr of 8.4%, compounded monthly, and she is making monthly payments of $990.39. what will her balance be with 12 years left on the loan

$ 40331.781  (Approx)

Step-by-step explanation:

Let Monica pay off $ x in 12 years,

Thus, for 12 years, his present value,  PV  = $ x

Given, APR of the loan =  8.4% = 0.084

Thus, the monthly rate of the loan, r = 0.084/12 = 0.007

The number of period in 12 years, n = 144

And, the monthly payment, P = $ 990.39

Thus, by the formula,

Thus, He pay off $ 89668.2185624 of the original amount of the loan.

⇒The amount of loan left after 12 years

= 130,000 - 89668.2185624

=40331.7814376  ≈ $ 40331.781

the answer is b

simplifying

5(x + -6) = 2(x + 3)

reorder the terms:

5(-6 + x) = 2(x + 3)

(-6 * 5 + x * 5) = 2(x + 3)

(-30 + 5x) = 2(x + 3)

reorder the terms:

-30 + 5x = 2(3 + x)

-30 + 5x = (3 * 2 + x * 2)

-30 + 5x = (6 + 2x)

solving

-30 + 5x = 6 + 2x

solving for variable 'x'.

move all terms containing x to the left, all other terms to the right.

add '-2x' to each side of the equation.

-30 + 5x + -2x = 6 + 2x + -2x

combine like terms: 5x + -2x = 3x

-30 + 3x = 6 + 2x + -2x

combine like terms: 2x + -2x = 0

-30 + 3x = 6 + 0

-30 + 3x = 6

add '30' to each side of the equation.

-30 + 30 + 3x = 6 + 30

combine like terms: -30 + 30 = 0

0 + 3x = 6 + 30

3x = 6 + 30

combine like terms: 6 + 30 = 36

3x = 36

divide each side by '3'.

x = 12

simplifying

x = 12

this should .