hope it helps.I was reading the same chapter
Answer:
10.24 years
Step-by-step explanation:
The computation of the time period is as follows:
As we know that
Amount = Principal × (1 + rate of interest)^time period
£8000 = £4000 × (1 + 0.07)^time period
£8,000 ÷ £4,000 = 1.07^time period
2 = 1.07^time period
Now apply the log to the both sides
log 2 ÷ log 1.07 = time period
= 10.24 years
4 × y - y = 36
4y - y = 36
Combining 4y and -y to get 3y
3y = 36
Dividing both sides by 3
y = 36/3
y = 12.
Answer:
(D) 36%
Step-by-step explanation:
Actual cost of truck = $4500
Down payment = $1500
Money left to be paid = 4500-1500 = $3000
A = Monthly payments = 350
n = 10
Principal value (P) = 3000
Using formula,
A=
350 =
= 36% (approx)
Hence (D) is correct.
Answer:
D 17 1/4
Step-by-step explanation: