What is the rule in the input/output table? A) add 4 B) subtract 4 C) divide by 2 D) multiply by 2 | inputs | 4 6 and 8 | output
2 answers:
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Answer:
The student will have to reimburse 2,991.03 two years later.
Step-by-step explanation:
This is a compound interest problem:
The compound interest formula is given by:
In which A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.
In this problem, we have that:
A is the amount the student will have to reimburse two years later.
P is his loan. so
The bank loans this money at a rate of 9 % capitalized monthly. This means that and
, since the money is compounded monthly, this means, 12 times in a year.
He will have to reimburse two years later, so
The student will have to reimburse 2,991.03 two years later.
To solve this problem you must apply the proccedure shown below:
1. You have the following points given in the problem above:
2. To find the midpoint, you must apply the formula that is used for calculate it. This is:
Where:
3. Now, you must substitute these values into the formula for calculate the midpoint, as following:
Therefore, the answer is: