Answer:
Year 29 $2,956.63 Total Interest $40,643.25 Balance $48,443.25
Step-by-step explanation:
Base amount: $7,800.00
Interest Rate: 6.5% (yearly)
Effective Annual Rate: 6.5%
Calculation period: 29 years
132891 round the nerast hundred
1 answer:
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Let's say hmm let's use the figures in thousands, so
model A costs 90 + 4 per year, so... ok.. after "t" years, then the cost for model A is then 90 + 4*t, or A = 90 + 4t.
now, model B is 70 + 10 per year, so,... after "t" years, model B is then
B = 70 + 10 * t, or B = 70 + 10t.
if we were to assume A < B, namely the cost of A is less than B, what would the years be? namely, what's "t"?
after that period, then A becomes cheaper than B.
model A costs 90 + 4 per year, so... ok.. after "t" years, then the cost for model A is then 90 + 4*t, or A = 90 + 4t.
now, model B is 70 + 10 per year, so,... after "t" years, model B is then
B = 70 + 10 * t, or B = 70 + 10t.
if we were to assume A < B, namely the cost of A is less than B, what would the years be? namely, what's "t"?
after that period, then A becomes cheaper than B.