Step 3 is wrong ( = 1/10 pound x 1/10 pound )
Answer:
The total amount of interest Samantha will pay=$40,842.47
Step-by-step explanation:
Step 1: Determine expression of total interest amount to be payed
The expression for the total interest amount to be payed inclusive of interest is given by;
A=P(1+r/n)^(nt)-P
where;
A=total amount of interest to be payed
P=principal loan amount
r=annual interest rate
n=number of compounding periods in a year
t=number of years
In our case;
P=$40,000
r=4.7%=4.7/100=0.047
n=12
t=15 years
replacing;
A=40,000(1+0.047/12)^(12×15)-40,000
A=40,000(1.00392)^180-40,000
A=40,842.46821
The amount rounded of to the nearest cents=1/100=0.01, round off to the nearest 2 decimal places=40,842.47
The total amount of interest Samantha will pay=$40,842.47
The answer is 6 to your question, but why does my answer have to be at least 20 characters long?
Total distance = 1.6 miles
Madison has already hiked 0.4 miles
Miles left = 1.6 - 0.4 = 1.2 miles left
Answer
$1.95
Step-by-step explanation:
15.60 divided by 8
