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Eddi Din [679]
1 year ago
13

An amount of $23,000 is borrowed for 11 years at 6.75% interest, compounded annually. If the loan is paid in full at the end of

that period, how much must be paid back?Use the calculator provided and round your answer to the nearest dollar.
Mathematics
1 answer:
Pavel [41]1 year ago
7 0

Answer:

Given that,

An amount of $23,000 is borrowed for 11 years at 6.75% interest, compounded annually.

To find the Amount paid back after 11 years.

Explanation:

we know that,

The formula to find the,

Amount after n years of interest rate r% compounded annually is,

A=P(1+\frac{r}{100})^n

where P is the initial amount.

Here, we have that,

P=$23,000

r=6.75

n=11

Substitute the values we get,

A=23000(1+\frac{6.75}{100})^{11}

Solving this we get,

A=23000(1+0.0675)^{11}A=23000(1.0675)^{11}A=23000(2.05138)A=47181.805

Round to the nearest dollar.

A=47181.805\approx47182

Answer is: Amount paid back is $47182 after 11 years

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Step-by-step explanation:

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Write the equation of the line parallel to 5x + y = -2 that goes through the point (2, -3).​
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Answer:

y = -5x + 7

Step-by-step explanation:

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Step 1: Define

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Step 2: Rewrite

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Step 3: Write parallel line

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An electrician needs to cut a 49 m piece of wire into two pieces so that one piece is 5 m longer than the other piece. What is t
gulaghasi [49]

The length of the shorter wire that the electrician cuts so that the difference between those two is of 5 m is 22.5.

Given to us

An electrician needs to cut a 49 m piece of wire into two pieces so that one piece is 5 m longer than the other piece.

<h3>What are the two equal parts of the wire?</h3>

We know that the length of the wire is 49 m, therefore, to cut the wire in two equal parts divide the total length of the wire by two,

\dfrac{49}{2} = 24.5

Thus, the length of each side will be 24.5.

<h3>What is the length of the shorter piece of wire?</h3>

Since we need to cut the wire such that one side of the wire is 5 less than the other, we already know the length of the equal sides deduct (5/2) from both sides to create a difference between the length of the wire.

Length of the shorter wire = 24.5 -2.5 = 22.5

Length of the longer wire = 22.5 + 5 = 27.5

Hence, the length of the shorter wire that the electrician cuts so that the difference between those two is of 5 m is 22.5.

Learn more about Lengths:

brainly.com/question/8552546

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