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Viktor [21]
3 years ago
12

a bank offers a home improvement loan with simple interest at an annual rate of 12% j.t. borrow $14000 over a period of 3 years

how much will he pay back altogather
Mathematics
1 answer:
marishachu [46]3 years ago
3 0
Simple interest means you just multiply the total times the interest amount

14000*.12 = $1680
Since it is annual interest and it is 3 years of payments we have to multiply the interest by 3

$1680*3 = $5040

Add the total interest to the starting sum for your answer:

$14,000 + $5040 = $19,040 total paid back
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8 0
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3 0
3 years ago
Find the sixth term of this geometric sequence 3584,896,224
Alex

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7 0
3 years ago
(1+(0.065÷365))^365t=4
marta [7]
This is the future value quadrupled in t years at an annual interest rate of 6.5% compounded daily.  We need to find t.

1*(1+0.065/365)^(365t)t=4
take log on both sides,
365t(log(1+0.065/365)=log(4)
=>
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t=(log(4)/log(1+0.065/365))/365
=(1.38629/.000178066)/365
=21.33 years

Check with the rule of 69, applicable to continuous compounding (an approximation to current problem) to double money, it take 69/interest rate in % years.
=69/6.5
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7 0
3 years ago
A number when divided by 32 gives the quotient 150 and remainder 5, find thenumber (dividend).
insens350 [35]

Answer:

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Dividend = Divisor × Quotient + Remainder

Here

Divisor is 32

Quotient is 150 and remainder is 5

3 0
3 years ago
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