A loan of $ 16,000 is made at 7 % interest, compounded annually. After how many years will the amount due reach $ 27,000 or more
1 answer:
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ANSWER
The coefficient is 70.
EXPLANATION
The given binomial expression is
The specific term of a binomial expansion can be determined using the formula,
where
We substitute these values into the formula to get,
We simplify to get,
Hence the coefficient is 70.
The coefficient is 70.
EXPLANATION
The given binomial expression is
The specific term of a binomial expansion can be determined using the formula,
where
We substitute these values into the formula to get,
We simplify to get,
Hence the coefficient is 70.