# Dr. Drake is thinking about retirement and decides to sail around the world once he retires. He buys a sailboat for $125,000. He borrows Dr. Drake is thinking about retirement and decides to sail around the world once he retires. He buys a sailboat for$125,000. He borrows the money at an APR of 7.5% for five years. He uses the monthly payment formula comes up with a monthly payment of $2,504.74. How much will his total interest be? ### Related Posts ## Which of the following are parallel to the line 2x+ 4y=16 ## 7.(06.02)Nami plotted the graph below to show the relationship between the temperature of her city ## 3. Lolly and Molly are reading a book. Lolly is on page 30 and reads 4 pages a minute.Molly is on page 40 and reads two pages ## On a scale drawling with the scale of 1 in to 5ft to aflagpole is 4 inches tall how tall is the actual flagpole ## Renting a trailer for 4 days costs$84. Renting the trailer for 5 days costs $100. Which of the following ## 9. Find the area of a circle having a circumference of 382. Round to the nearest tenth. Use 3.14 for 1. a. 1133.5 units b. 1078.6 ## This Post Has 3 Comments 1. Expert says: d (5 x (-20)) * (100 x (0.7)) step-by-step explanation: 5÷1/100 * -.7 *-20 copy dot flip 5*100 * -.7 *-20 rearrange 5*-20 * 100 *-.7 -100 *-70 7000 $30 points! the steps to simplify the expression are shown below, with one step missing. which is th$ 2. Expert says: wholesale price is the initial price before markup. retail price comes after the markup. a price of 8 bucks that's marked up by 100% is formula: initial price + (percent markup in fraction/decimal)(initial price) 8+(1)(8) 8+8 16 retail price is$16.

3. 40029595 says:

$46875. Step-by-step explanation: We have been given that Dr. Drake buys a sailboat for 125000. He borrows the money at an APR of 7.5% for five years. We will find total interest after 5 years by using simple interest formula A=P(1=rT), where, A= Amount after T years. P= Principal amount. r= The annual interest rate (in decimal form). T= Time in years. First of all we will convert our given interest rate from percent to decimal form. 7.5 precent= 0.075 Now let us substitute our given values in above formula. A=125,000 (1+(0.075 x 5)) A=125,000 (1+0.375) A=125,000 (1.375) A=171875 To find the amount of total interest we will subtract principal amount from 171875. Total amount of interest= 171875 - 125000 Total Amount of interest= 46875 Therefore, the total interest after 5 years will be$46875.

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