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3 years ago

15

Money is borrowed at 14% simple interest. After one year, $1249.44 pays off the loan. How much was originally borrowed? I got $1

096 for the amount of the original loan, but I'm not sure if to right.

1 answer:

WITCHER [35]3 years ago

8 0

The formula is
A=p (1+rt)
A future value 1249.22
P present value ?
R interest rate 0.14
T time 1 year
We need to solve for p
P=A÷(1+rt)
P=1,249.22÷(1+0.14×1)
P=1,095.81 round your answer
P=1096

Hope it helps

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Step-by-step explanation:

We need to take the derivative with respect of x and y, and equal to zero to find the local minimums.

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Now, we can see that at point (3/4,0) we have the coldest value of temperature $T(\frac{3}{4},0) = -9/16$ . On the other hand, at the point $-(3/4),\frac{\sqrt{7}}{4})$ we have the hottest value of temperature, it is $T(-(3/4),\frac{\sqrt{7}}{4})=\frac{5}{16}$ .

I hope it helps you!

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