Mervin's loan of $300 is an illustration of compound interest
The interest to pay back in 5 months is $74.2, and the amount to pay back in 5 months is $374.2
<h3>The interest to pay back in 5 months</h3>
The given parameters are:
- Principal, P =$300.00
- Rate, r = 70%
- Time, t = 5 months
The compound interest is calculated as:
CI = P * (1 + r)^(t/12) - P
Substitute known values
CI = 300 * (1 + (0.70))^(5/12) - 300
Evaluate the expression
CI = 74.2
Hence, the interest to pay back in 5 months is $74.2
<h3>The amount to pay back in 5 months</h3>
The amount (A) is calculated using:
A = CI + P
This gives
A = 74.2 + 300
A = 374.2
Hence, the amount to pay back in 5 months is $374.2
Read more about compound interest at:
brainly.com/question/24924853
Answer:
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Step-by-step explanation:
Answer:
C = (1, -1)
Step-by-step explanation:
For that 3:1 division, the calculated value of point B is ...
B = (3C +1A)/(3+1)
Solving for the value of C, we find ...
4B = 3C + A . . . . multiply by 4
4B -A = 3C . . . . . subtract A; next divide by 3.
C = (4B -A)/3 = ((4(-1)-(-7))/3, (4(0)+-3)/3) . . . . substitute given values
C = (3/3, -3/3) . . . . simplify a bit
C = (1, -1)
Take the value of x-4, and make it positive, then subtract three. The graph would look like the following.
