Answer:
please apply the formula of distance
l think but not sure
Answer:
5
Step-by-step explanation:
The borrower owes $14,760.82 at the end of 8 years
What is compounding interest?
Compounding interest means that earlier interest would earn more interest in the future alongside the loan principal.
Note that in this case the loan continues to accumulate interest because there no repayments, in other words, the loan balance after 8 years, which comprises of the principal and interest for 8 years can be computed using the future value formula of a single cash flow(the single cash flow is the principal) as shown thus:
FV=PV*(1+r/n)^(n*t)
FV=loan balance after 8 years=unknown
PV=loan amount=$5,000
r=annual interest=14%
n=number of times in a year that interest is compounded=2(twice a year)
t=loan period=8 years
FV=$5000*(1+14%/2)^(2*8)
FV=$5000*(1.07)^16
FV=$5000*2.95216374856541
FV=loan balance after 8 years=$14,760.82
Find out more about semiannual compounding on:brainly.com/question/7219541.
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There are two equation:
1) From Kim
2) From Daniel
Let:
x be the cost of rolls of plain wrapping paper
y be the cost of rolls of shiny wrapping paper
Kim:
7x + 8y = 140
Daniel:
14x + 7y = 154
<u>Using elimination method:</u>
(7x + 8y = 140) * -2 (Multiplying the equation by -2)
-14x - 16y = -280
-14x -16y = -280
14x + 7y = 154
------------------------------
0x - 9y = -126
9y = 126 (Negative sign cancels from both sides)
y = 126 /9
y = 14
The cost of each shiny wrapping paper is $14.
Now solve x, you pick any two equation to solve for x.
7x + 8y = 140
7x + 8(14) = 140 (You know from above y =14)
7x + 112 = 140
7x = 28
x = 28/7
x = 4
The cost of each plain wrapping paper is $4.
Solution: (4,14)
