A loan of $50,000 is taken out for six years at 9% interest compounded annually. If the loan is paid off in full at the end of that time period, $50433 must be returned.
<h3>What is Compound interest?</h3>
- Compound interest is calculated by multiplying the initial loan amount, or principal, by one plus the annual interest rate multiplied by the number of compound periods multiplied by one.
- Compound interest is when you earn interest on both your savings and your interest earnings. When you compound interest, you add the interest you've earned back into your principal balance, which earns you even more interest, compounding your returns.
- Assume you have $1,000 in a savings account earning 5% interest per year. You'd earn $50 in year one, giving you a new balance of $1,050. Compound interest occurs when interest earned on savings begins to earn interest on itself.
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Answer:
y = 4
Step-by-step explanation:
I assume you want to find the slope-intercept form of the given information.
We are given the slope and a point, so we can find the y-intercept.
y = 0x + b
4 = 0(-2) + b
4 = 0 + b
4 = b
Put everything we know/solved for back into the formula [ y = mx + b ]
y = 4
Best of Luck!
Answer:
Step-by-step explanation:
Prime factorization requires dividing by primes starting with smallest prime number
402/2=201
201/3=67, 67 is prime so we cannot go further so the prime factorization of 402 is
2X3X67
Answer:
42/50, 21/25
Step-by-step explanation:
84/100=42/50=21/25
The mixed number as an improper fraction is 37/8
<h3>How to express the mixed number as an improper fraction?</h3>
The diameter is give as:
Diameter = 4 5/8
Next we convert the above number to an improper fraction
The numerator is calculated as
Numerator = 8 * 4 + 5
This gives
Numerator = 37
Hence, the mixed number as an improper fraction is 37/8
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