1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jonny [76]
3 years ago
14

If you borrow $894 for four years at an interest rate of 3%, how much interest will you pay?

Mathematics
1 answer:
Studentka2010 [4]3 years ago
3 0

Answer:

$1006.20

Step-by-step explanation:

This is an example of compound interest.

To work this out you would first have to convert the percentage into a decimal, you can do this by dividing 3 by 100, which gives you 0.03. You are dividing by 100 as percentages are out of 100. Then you would add 1 to 0.03, which gives you 1.03. This is because you are finding percentage increases. Then you would multiply 894 by 1.03 to the power of 4, which gives you 1006.20. This is because you are finding 3 percent and adding it on and then finding 3 percent of that, this is why we put it to the power of how much time.

1) Divide 3 by 100.

3/100=0.03

2) Add 1 to 0.03.

0.03+1=1.03

3) Multiply 894 by 1.03 to the power of 4.

894*1.03^{4}=1006.20

You might be interested in
Which equation can be used to find the measure of angle LJK?
Alexxandr [17]

Answer: cos(x)= 10/15

Step-by-step explanation:

Trust

3 0
2 years ago
Plsss help and please dont be scammer
gladu [14]

Answer:

38 students

Step-by-step explanation:

because 19% of 205 is 38.95, but not fully 39 students, so about 38 students

6 0
2 years ago
Which term best describes the angle below?
Masja [62]
Acute because it is less than 90 degrees
4 0
3 years ago
Read 2 more answers
The point (-3,-1) is the midpoint of (x,y) and (5,4). Find the point (x,y).
nirvana33 [79]

Answer:

(-11, -6)

Step-by-step explanation:

Find the distance between the midpoint, (-3, -1) and (5, 4). This can be calculated by finding the difference between the x coordinates and y coordinates.

-3 - 5 = -8 (distance between x coordinates)

-1 - 4 = -5 (distance between y coordinates)

Find the point (x, y) by subtracting 8 from the midpoint's x value, and then subtracting 5 from the midpoint's y value.

-3 - 8 = -11

-1 - 5 = -6

So, the point (x, y) is (-11, -6)

4 0
2 years ago
4(2x + 3) = 4 8x + 12 = 4 8x = -8 x = -1 <br> was this equation solved correctly?
iVinArrow [24]
Yes, this looks to be done correctly.
4 0
3 years ago
Other questions:
  • If the ratio is 8:7, how many boys and girls campers when there is a 195 campers
    5·1 answer
  • Geometry help 10 points
    5·2 answers
  • Help! 1. Baby Yoda wants some soup, so he wanders around trying to find some. He starts at the bottom of the grid, and ends clos
    12·2 answers
  • What are the y-intercept and the slope of the line represented in the graph?
    15·1 answer
  • Which is a solution to the equation?<br> (x-2)(x + 5) = 18
    9·2 answers
  • 105x^6y^5+70x^7y^11/35x^7y^4
    5·1 answer
  • Using slope intercept form: m=12;(0,2/3)<br>please explain this 2 me!
    5·1 answer
  • LM is the mid segment of trapezoid ABCD. AB = 72 and DC= 104. What is LM?
    11·2 answers
  • Hello i want help with this
    15·1 answer
  • The morning temperature was –5 °. By noon the temperature was 4 °. How many degrees had the temperature risen? *
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!