Answer:
Given: Principal(P) = $ 5000 , T = 3.5 years and R = 5%.
Using the formula of Simple Interest (I) given by;
.......[1] , where P is the Principal amount of money to be invested, R be the rate of interest and T be the time.
Substitute the given values of P , R and T in [1] we have;
Simplify:
An Ending balance is calculated by subtracting cash outflows, interest paid for financing and principal paid on financing.
Ending Balance = $ 5000 + $ 175 = $ 5,175.
Therefore, the ending balance is $ 5,175
Answer:
2.8 years or 33.6 months.
Step-by-step explanation:
I am not sure what your questions is, but I assume it is how long it will take to pay it off?
In a year (15*12,) you would have paid $180 of it.
x = 500/180
Therefore, it will take you approximately 2.8 years to pay off your loan, excluding interest, of course, since you did not provide that rate.
Answer:
x = -19
Step-by-step explanation:
-3= 12x-5(2x-7)
Distribute
-3= 12x-10x+35
Combine like terms
-3 = 2x +35
Subtract 35 from each side
-3-35 = 2x+35-35
-38 = 2x
Divide each side by 2
-38/2 = 2x/2
-19 =x
