Write the rule for the following arithmetic sequence: 11, 15, 19, 23, …
1 answer:
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Answer:
The amount needed to pay off the loan after 4 years is $70,192
Step-by-step explanation:
When interest is compounded annually, total amount A after t years is given by:
where P is the initial amount (principal), r is the rate and t is time in years.
From the question:
P = $60,000
r = 4% = 0.04
t = 4
The amount needed to pay off the loan after 4 years is $70,192
If we divide the amount by four, we will get the amount that is paid yearly (70192/4 = 17548). $17,548 is paid yearly.
Answer:
Graph the line using the slop and y-intercept, or two points.
Slope: 1
y-intercept: -2
x: 0, 0
y: -2, -2
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