Answer:
Let's try and figure it out yearly:
So for the first year the deposits would amount to 40 * 12 = $480
Now since the interest rate is applied yearly we will assume that the interest rate will be applicable to the amount that is left after the first year of deposits
So that would be 889.98 - 480 = 409.98
409.98 * 14.99 % = 61.45
The new amount owed for the second year would be 409.98 + 61.45 = 471.43
So by the end of the second year the debt would of been wiped clean with $8.57 to spare.
So the answer would be 24 months
Step-by-step explanation:
The answer to this problem is A
Answer:
$11,983
Step-by-step explanation:
YEAR;Amount
0 $5,000
1 $5,300
2 $5,618
3 $5,955
4 $6,312
5 $6,691
6 $7,093
7 $7,518
8 $7,969
9 $8,447
10 $8,954
11 $9,491
12 $10,061
13 $10,665
14 $11,305
15 $11,983
No, 1.888 is a rational number.
