The present worth of the loan is <span>$6,250
</span>The start of payment will after 4 years
The nominal interest rate is 6.1% compounded monthly which is equal to 6.27% effective.
The future worth (after graduation) of the loan is
F = <span>$6,250 (1 + 0.0627)^4 = $7,971.18
The interest is
</span>$7,971.18 - $6,250 = $1,721.18
I didn't round off when solving these so it's not the exact answer among the choices but the closest is letter B <span>$1,722.22</span>
If x- 7 = 14 then X = 21. so 21-2= 19. :)
Distribute the negative:
6x-3-8x-11
Combine like terms:
-2x-14
Simplify by factoring:
-2(x+7)
Answer:
1503.37
Step-by-step explanation:
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