Answer: The lendor will allow for $1500 for the housing expenses.
This lendor is allowing 30% for the debt. So, we start by multiplying 8000 times 0.3 which equals 2400.
However, we have to subtract the current debts of 900.
2400 - 900 = 1500
The formula for calculating compound interest with yearly contributions is:
Balance = X*(1 + Y)^n + Z((1 + Y)^(n + 1) - (1 + Y)/Y)
where the balance is the money earned after n years invested
Y is the interest rate as a fraction
Z is the yearly contribution
X is the starting investment
Therefore the calculation for this example is:
Balance = 1200*(1 + 0.05)^48 + 1200((1.05)^49 - (1.05)/05)
= $249,393.5
Answer:
Cost of tickets: $7. Equation: 40 = 4x + 12.
Step-by-step explanation:
Answer:
0.75
Step-by-step explanation:
