Answer:
<h3>LARGEST COEFFICIENT = 7</h3><h3>SMALLEST COEFFICIENT=2</h3><h3>STANDARD FORM=7,0,0,0,3,2,0,0</h3><h3>COEFFICIENTS =7,3,2</h3>
It would be: 213500 * 18/100
213500 * 0.18 = $38430
So, option D is your answer.
Hope this helps!
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
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Answer:
The answer is 3x.
Step-by-step explanation:
I broke it down on paper.