Answer:The answer is D.
Step-by-step explanation:
Answer:
The total amount of interest Samantha will pay=$40,842.47
Step-by-step explanation:
Step 1: Determine expression of total interest amount to be payed
The expression for the total interest amount to be payed inclusive of interest is given by;
A=P(1+r/n)^(nt)-P
where;
A=total amount of interest to be payed
P=principal loan amount
r=annual interest rate
n=number of compounding periods in a year
t=number of years
In our case;
P=$40,000
r=4.7%=4.7/100=0.047
n=12
t=15 years
replacing;
A=40,000(1+0.047/12)^(12×15)-40,000
A=40,000(1.00392)^180-40,000
A=40,842.46821
The amount rounded of to the nearest cents=1/100=0.01, round off to the nearest 2 decimal places=40,842.47
The total amount of interest Samantha will pay=$40,842.47
Answer:
I am pretty sure it's −2.7710843373
Hello!
Explanation: <em>This question is super easy. This question it just like a order of operations. First you had to multiply by 52, 13*52= 676 is the right answer. Hope this helps! And thank you for posting at here on Brainly. And have a great day! -Charlie</em>
Answer:
$248.75
Step-by-step explanation:
We are told that the interest rate is 13% per Annum = 13% per year
Hence, the interest rate in a month = 13% /12
= 1.0833333333% in a month
Tony Giacomin deposited $1600 on July 3rd in a special investment account which earns 13% p.A. Simple interest.
Interest = Principal × rate × time
Rate = 13% = 0.13
Time = July 3rd - November 12 = 132 days
= $1600 × 0.13 × 132/365
= $75.221917808
On August 17th he deposited another $5600 in the account. If he closed the account on November 12th
Interest = Principal × rate × time
Rate = 13% = 0.13
Time = August 17th - November 12 = 87 days
= $5600 × 0.13 × 87/365
= $173.52328767123288
The next step would be to add these Interests together
$173.52328767123288 + $75.221917808
= $248.74520548
Approximately ≈ $248.75
Therefore, his investment that he has earned over this period of time is $248.75
