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miskamm [114]
1 year ago
13

Thank you for you help

Social Studies
1 answer:
Readme [11.4K]1 year ago
5 0

The interest of Lin is calculated for the loan to be taken, $181 for 4.5% interest rate. $179.4 Interest expense total if 3.9% interest is paid for 8 years.

<h3 /><h3>What is Interest?</h3>

Interest is the amount paid in return for loan, the interest is calculated with a percentage that is agreed when loan is provided.

Loan is charged with the interest rate.

The interest expense was calculated as $575 * 4.5% * 7 years = $181

$575 * 3.9% * 8 years = $179.4.

Mrs. Brookes will have approximately $1400 at the end of year 2.

$1200 * 1.08 = $1296

$1296 * 1.08 = $1399.68

Ben will earn $ 11,249 for Account I

Ben will earn $ 10,927 for Account II

Account I

$10,000 * 1.04 =  10400

$10400 * 1.04 = 10816

$10816 * 1.04 = 11249

Account II

$10,000 * 1.03 = 10300

$10300 * 1.03 = 10609

$10609 * 1.03 = 10927

Learn more about Interest at brainly.com/question/27405159

#SPJ1

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