The loan proceeds will be given as follows:
A=P(1+r/100)^n
Plugging the values we obtain
n=4 months=
A=1000(1+12/3*100)^1
A=$1040
hence the proceeds will be:
1040-1000=$40
<span>Because <span>t <span>is given in years and 1.08 <span>= <span>1 <span>+ <span>0.08, the annual percent increase
<span>is 8%.
To find the monthly percent increase that gives an 8% annual increase,
<span>use the fact that
t =

<span><span><span><span>
<span><span><span><span>and the properties of exponents to rewrite the
model in a form that reveals the monthly growth rate.</span></span></span>
</span></span></span></span></span></span></span></span></span></span></span></span></span></span>
Answer:
234
Step-by-step explanation:
The answer is is 17x. I hope this helps
Answer:
Step-by-step explanation:
Answer:
P = $ 482.00
Equation:
P = I / rt
Calculation:
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
P = 72.3 / ( 0.05 × 3 ) = 482
P = $ 482.00
The principal required to
accumulate interest of $ 72.30
on a rate of 5% per year for 3 years is $ 482.00.
hope it helps :)