Well, as you can see the answer and problem are switched so u do this
24=2k
÷2 ÷2
----------------------
12=k. check:
12×2 is 24☆
happy to help.
If he starts paying after four years, the worth of the loans by then is b. $31,616.16
<h3>What is a Loan?</h3>
This refers to the amount collected from a lender to be repaid after a given time, usually with added interest.
Hence, we can see that:
The effective monthly interest rate is:
i = 0.053/12 = 0.0044
The effective annual interest rate is:
i = (1 + 0.0044)^12 -1 = 0.0543
The present worth of all the loans is:
P = 6125 + 6125 (1 + 0.0543)^-1 + 6125 (1 + 0.0543)^-2 + 6125(1 + 0.0543)^-3
P = $22,671.40
If he pays them prompty, then the total lifetime cost would be
P = 22671.40 (1 + 0.0543)^4 = $31,616.16
Read more about loans here:
brainly.com/question/2363571
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Answer:
$15.35104
Step-by-step explanation:
Step 1
Calculate how much is 7.2% raise
$14.32 × 7.2%
= $14.32 × 7.2/100
=$ 1.03104
Step 2
Jack's hourly rate after his raise is
$14.32 + $ 1.03104
= $15.35104
Answer:
Step-by-step explanation:
