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To go with this question?
Y+12=-50 y=-62
To solve
Subtract 12 from each side of the equation
y=-62
Y=-62
The multiplier for increasing by 7.25% is 1.0725. To get our answer we times the price by the multiplier to the power of the amount of years:
19,000 x 1.0725⁶ ( it's to the power of 6 because of the six years)
= 28,915.94
= $28,916 (to the nearest dollar)
So if the loan is to be paid in full the $28,916 (to the nearest dollar) must be paid back.
