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2 years ago

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Jared borrowed $4000 a year ago at an annual interest rate of 7.9%, compounded quarterly. The loan was to be paid off in four ye

ars, but he wants to pay it off now. How much should his creditor expect as a payout of the loan?

1 answer:

anyanavicka [17]2 years ago

3 0

Answer:

$5469.65

Step-by-step explanation:

Jackson borrowed $4000

Interest= 7.9%= 0.079

N=4

m= "compounded quartely"= 4

If he wants to pay it off now, the amount his creditor expect as a payout of the loan is:

Future Value= X(1+i/m)^nm

FV= 4000(1+0.079/4)^4*4

FV= 4000(1+0.01975)^16

FV= 4000(1.01975)^16

FV= 4000(1.3674121)

FV= 5469.6484

FV= $5469.65

The amount his creditor expect as a payout of the loan is 5469.65 if jared want to pay off the loan now.

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${\quad \qquad \blacktriangleright \blacktriangleright \displaystyle \sf \lim_{x\to 4}\dfrac{\sqrt{x}-\sqrt{3\sqrt{x}-2}}{x^{2}-16}}$

But , before starting , let's recall an identity which is the <em>main key</em> to answer this question

${\boxed{\bf{a^{2}-b^{2}=(a+b)(a-b)}}}$

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${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{\sqrt{x}-\sqrt{3\sqrt{x}-2}}{x^{2}-16}}$

Now as directly putting the limit will lead to <em>indeterminate form 0/0.</em> So , <em>Rationalizing</em> the <em>numerator</em> i.e multiplying both numerator and denominator by the <em>conjugate of numerator </em>

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{\sqrt{x}-\sqrt{3\sqrt{x}-2}}{x^{2}-16}\times \dfrac{\sqrt{x}+\sqrt{3\sqrt{x}-2}}{\sqrt{x}+\sqrt{3\sqrt{x}-2}}}$

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{(\sqrt{x}-\sqrt{3\sqrt{x}-2})(\sqrt{x}+\sqrt{3\sqrt{x}-2})}{(x^{2}-4^{2})(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

Using the above algebraic identity ;

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{(\sqrt{x})^{2}-(\sqrt{3\sqrt{x}-2})^{2}}{(x-4)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{x-(3\sqrt{x}-2)}{(x-4)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{x-3\sqrt{x}+2}{\{(\sqrt{x})^{2}-2^{2}\}(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{x-3\sqrt{x}-2}{(\sqrt{x}-2)(\sqrt{x}+2)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

Now , here we <em>need</em> to <em>eliminate (√x-2)</em> from the denominator somehow , or the limit will again be <em>indeterminate </em>,so if you think <em>carefully</em> as <em>I thought</em> after <em>seeing the question</em> i.e what if we <em>add 4 and subtract 4</em> in <em>numerator</em> ? So let's try !

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{x-3\sqrt{x}-2+4-4}{(\sqrt{x}-2)(\sqrt{x}+2)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{(x-4)+2+4-3\sqrt{x}}{(\sqrt{x}-2)(\sqrt{x}+2)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

Now , using the same above identity ;

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{(\sqrt{x}-2)(\sqrt{x}+2)+6-3\sqrt{x}}{(\sqrt{x}-2)(\sqrt{x}+2)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{(\sqrt{x}-2)(\sqrt{x}+2)+3(2-\sqrt{x})}{(\sqrt{x}-2)(\sqrt{x}+2)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

Now , take minus sign common in <em>numerator</em> from 2nd term , so that we can <em>take (√x-2) common</em> from both terms

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{(\sqrt{x}-2)(\sqrt{x}+2)-3(\sqrt{x}-2)}{(\sqrt{x}-2)(\sqrt{x}+2)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

Now , take<em> (√x-2) common</em> in numerator ;

${:\implies \quad \displaystyle \sf \lim_{x\to 4}\dfrac{(\sqrt{x}-2)\{(\sqrt{x}+2)-3\}}{(\sqrt{x}-2)(\sqrt{x}+2)(x+4)(\sqrt{x}+\sqrt{3\sqrt{x}-2})}}$

Cancelling the <em>radical</em> that makes our <em>limit again and again</em> <em>indeterminate</em> ;

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Now , <em>putting the limit ;</em>

${:\implies \quad \sf \dfrac{\sqrt{4}-1}{(\sqrt{4}+2)(4+4)(\sqrt{4}+\sqrt{3\sqrt{4}-2})}}$

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${:\implies \quad \bf \therefore \underline{\underline{\displaystyle \bf \lim_{x\to 4}\dfrac{\sqrt{x}-\sqrt{3\sqrt{x}-2}}{x^{2}-16}=\dfrac{1}{128}}}}$

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