Sam has a loan for $1200 at a rate of 9% annually. If the interest is not compounded, how much interest will he pay in 5 years?
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Answer:
Step-by-step explanation:
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Hi there!
Our interval is from 0 to 3, with 6 intervals. Thus:
3 ÷ 6 = 0.5, which is our width for each rectangle.
Since n = 6 and we are doing a right-riemann sum, the points we will be plugging in are:
0.5, 1, 1.5, 2, 2.5, 3
Evaluate:
(0.5 · f(0.5)) + (0.5 · f(1)) + (0.5 · f(1.5)) + (0.5 · f(2)) + (0.5 · f(2.5)) + (0.5 · f(3)) =
Simplify:
0.5( -2.75 + (-3) + (-.75) + 4 + 11.25 + 21) = 14.875