What the question and what the picture
Answer:
I believe the answer is $20,073.38
Step-by-step explanation:
Step 1: Find the percentage. The formula for annual compound interest is A = P(1 + r)^t, where A = amount (total amount), P = principal (initial amount), r = rate (percentage), and t = time (in years). Our rate is 6%, which is 0.06 in decimal form. Add it to 1. 1 + 0.06 is 1.06.
Step 2: Raise 1.06 to the 5th power. Because we are finding the amount in 5 years, we do that step. 1.06^5 is 1.3382255776.
Step 3: Do not delete the decimal from the calculator. Multiply it by 15,000 to find the total amount. When you do, you get 20,073.383664 or 20,073.38 when rounded to the nearest hundredth.
Answer:
what class are you in? if you have a book you can use this site called slader it gives you every answer for free and there is steps. HOPE THIS HELPS.
Step-by-step explanation:
9514 1404 393
Answer:
$443.87
Step-by-step explanation:
The amortization formula tells you the payment.
A = P(r/12)/(1 -(1 +r/12)^(-12t))
where P is the loan amount at annual rate r for t years.
A = $29,000(0.0325/12)/(1 -(1 +0.0325/12)^(-72)) = $443.87
The monthly payment will be $443.87.
