Answer:
24.2 years
Step-by-step explanation:
The basic formula is I = P * i * t, where I is interest, P is total principal (or profit), i is rate of interest per year, and t is total time in years. I = P * i * t can be rearranged to solve for t: t = I / (i * p).
In this question I = $6400, P = $3200 and i = 8.25%, so we plug in those numbers to get t = 6400 / (0.0825 * 3200), which solves to 24.2424 years.
Solution:
<u>Note that:</u>
- Given inequality: 12p < 96
<u>Dividing both sides by 12:</u>
- 12p < 96
- => 12p/12 < 96/12
- => p < 8
Correct option is A.
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Answer:
x = 59°
y = 67°
Step-by-step explanation:
x = y - 8
x + y + 54 = 180
(y - 8) + y = 180 - 54
2y - 8 = 126
2y = 134
y = 67°
x = 59°
Step-by-step explanation:
If he starts paying after four years, the worth of the loans by then is b. $31,616.16
<h3>What is a Loan?</h3>
This refers to the amount collected from a lender to be repaid after a given time, usually with added interest.
Hence, we can see that:
The effective monthly interest rate is:
i = 0.053/12 = 0.0044
The effective annual interest rate is:
i = (1 + 0.0044)^12 -1 = 0.0543
The present worth of all the loans is:
P = 6125 + 6125 (1 + 0.0543)^-1 + 6125 (1 + 0.0543)^-2 + 6125(1 + 0.0543)^-3
P = $22,671.40
If he pays them prompty, then the total lifetime cost would be
P = 22671.40 (1 + 0.0543)^4 = $31,616.16
Read more about loans here:
brainly.com/question/2363571
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