Kudzu, an Asian vine introduced to the United States in the…

Kudzu, an Asian vine introduced to the United States in the 1930s as a means to control erosion, is referred to as “the plant that ate the South” because it grows alarmingly fast and overtakes most plant species in its path. A recent and unusual way that some people are using to control kudzu growth is to allow goats to graze their land and eat the kudzu, roots and all. This is considered by some to be the most environment-friendly way to eliminate this invasive vine. How can we best describe the goats in this situation?

You are in the process of obtaining a 5-year fixed-rate loan…

You are in the process of obtaining a 5-year fixed-rate loan to buy a car. The loan amount is $20,000, and the rate is 6% (This is the nominal annual rate.) Assume that all equal monthly payments are made at the end of every month. What percentage of the payment is the interest for the first month?