To help open up a wine bar, Jose borrowed money from a bank. He took out a personal, amortized loan for $49,000, at an interest
1 answer:
Using simple interest, it is found that the monthly payments are of $854.875.
<h3>Simple Interest</h3>Simple interest is used when there is a single compounding per time period.
The amount of money after t years in is modeled by:
In which:
- A(0) is the initial amount.
- r is the interest rate, as a decimal.
In this problem, the parameters are A(0) = 49000, r = 0.0665, t = 7, hence the total amount is of:
Payments over a period of 12 x 7 = 84 months, hence the monthly payments are of:
71809.5/84 = $854.875.
More can be learned about simple interest at brainly.com/question/25296782
You might be interested in
Factorize the denominator:
If , we can cancel the factors of
, which makes
and
removable discontinuities that appear as holes in the plot of
.
We're then left with
which is undefined when , so this is the site of a vertical asymptote.
As gets arbitrarily large in magnitude, we find
since the degree of the denominator (3) is greater than the degree of the numerator (2). So is a horizontal asymptote.
Intercepts occur where (
-intercepts) and the value of
when
(
-intercept). There are no
-intercepts because
is never 0. On the other hand,
so there is one -intercept at (0, 1).
The domain of is the set of values that
can take on for which
exists. We've already shown that
can't be -2, 2, or -1, so the domain is the set