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FinnZ [79.3K]
3 years ago
11

Find the interest on the loan if you borrowed $2,000 at 8% for 1 year.

Mathematics
1 answer:
kodGreya [7K]3 years ago
7 0
Future Value = Present Value*(1 + interest rate)^(# of years)

Future Value = $2,000(1+0.08)^1

Future Value = $2,000(1.08) = $2,160

To find the interest on the loan, we need to do our Future Value - Present Value.

Future Value - Present Value = $2,160 - $2,000 = $160
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Neptune's average distance from the sun is 4.503 × 109 km. mercury's average distance from the sun is 5.791 × 107 km. about how
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Neptune's distance from the sun is d₁ = 4.503 x 10⁹ km.
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the polynomial 3x+5 is divided by x+2 what is the quotient, pls be quick im taking a algebra progress check due in 25 min
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The quotient of the rational function is 3 -\frac{1}{x+2}.

Step-by-step explanation:

We proceed to solve the expression by solely algebraic means below:

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2) \frac{(3\cdot x + 5) + 0}{x + 2} Modulative property

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Step-by-step explanation:

Step 1:

Savings account A has an APR of 5% which compounds interest semiannually. This means that savings account A compounds twice in a year. If account A compounds 5% a time, it would compound 5(2) = 10% in a single year.

Step 2:

Savings account B also has an APR of 5% which compounds interest quarterly. This means that savings account B compounds four times in a year. If account B compounds 5% a time, it would compound 5(4) = 20% in a single year.

Step 3:

Savings account A gets an interest of 5% a year while savings account B gets an interest of 10% so account B offers a higher APR because of more compoundings in a year.

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