Answer:
y= -2/3x + 8/3
do you really want a explanation?
First, determine the effective interests given both interest rates.
(1) ieff = (1 + 0.068/12)^12 - 1 = 0.07016
(2) ieff = (1 + 0.078/12)^12 - 1 = 0.08085
Calculating the interests will entail us to use the equation,
I = P ((1 + i)^n - 1)
Substituting the known values,
(1) I = ($5125)((1 + 0.07016)^1/2 - 1)
I = $176.737
(2) I = ($5125)(1 + 0.08085)^1/2 - 1)
I = $203.15
a. Hence, the greater interest will be that of the second loan.
b. The difference between the interests,
d = $203.15 - $176.737
$26.413
Answer:
A = { x:x >3 ,where x --> R}
B = { x:x <4, where x --> R}
Y = { x:x is month of year with more than 30 days}
W = { x:x is all days of a week}