Answer:
this confuses me... try C.
Step-by-step explanation:
We are given with:
Principal, P = $32000
Interest rate, i= 6.1%
Duration of loan, n= 10 years
To solve for the total interest, I, we use the formula:
I = P(1+i)^n - P
Substituting the given values:
I = 32000(1+.061)^10 - 32000
I = $25,850.06
Answer:
Step-by-step explanation:
112-4x = 144
-4x = 32
x = -8 incorrect answers
Answer:
A = $ 7,299.92
A = P + I where
P (principal) = $ 6,000.00
I (interest) = $ 1,299.92
Step-by-step explanation:
A = P(1 + r/n)^nt
Where:
A = Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Annual Nominal Interest Rate in percent
r = Annual Nominal Interest Rate as a decimal
r = R/100
t = Time Involved in years, 0.5 years is calculated as 6 months, etc.
n = number of compounding periods per unit t; at the END of each period