Answer:
F = $13,802.31
she can finance $13,802.31 with this loan.
Step-by-step explanation:
Given;
Rate r = 7% = 0.07
Time t = 4 years
Payment per month MP = $250
Number of months per year n = 12
This can be solved using compound interest for future value series formula;
F = future value
F = MP(((1 + r/n)^(nt) - 1)/(r/n))
Substituting the given values, we have;
F = $250(((1 + 0.07/12)^(12×4) - 1)/(0.07/12))
F = $13,802.31
Answer:
Step-by-step explanation:
so add what you have if you one number spilt it and divide
Answer:
I can't see the picture or handwriting
If Erica earned a total of $15450 last year from both the jobs then he earns $2840 from college if she earned 1250 more than four times the amount from college from store.
Given Total amount earned=$15450,Amount earned from store is 1250 more than 4 times earned from college.
Amount from store forms an equation.
let the amount earned from college is x.
According to question:
Amount earned from store=4x+1250
Amount earned from college=x
Total amount earned=4x+1250+x
5x+1250=15450
5x=15450-1250
5x=14200
x=14200/5
x=2840
Put the value of x in 4x+1250 to get amount earned from store=4(2840)+1250=$12610.
Hence the amount earned by Erica from college is $2840.
Learn more about equation at brainly.com/question/2972832
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