The amount to be paid at the end of the loan period will be $33,120. The rate of interest on the loan is given as per annum and hence the interest is to be calculated for 6 months.
<h3>Calculation of settlement amount of loan:</h3>Given:
Interest is calculated from the following formula:
Hence the interest for the loan will be:
The final payment for the loan will be the combination of principal and interest.
Therefore final payment = $32,000 +$1,120
= $33,120
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Answer:
C will take 96 days alone to do the work.
Explanation:
given,
A and B work for 12 days...................(1)
B and C work for 16 days...................(2)
C and A work for 24 days...................(3)
Adding equation (1) and (2)
from equation (2)
hence, C will take 96 days alone to do the work.
Answer:
the average annual economic growth rate in Taiwan from 1961 to 1981 was 41.42%
Explanation:
Hi, we need to use the following formula.
Where:
FV = GDP in 1981 ($1,000)
PV = GDP in 1961 ($500)
r = growth rate
t = years from 1981 to 1961 (20 years)
So, it should look like this:
Now, we solve for "r"
So, the growth rate of Taiwan´s GDP is 41.42%
Best of luck.