What is the principal if the amount is $1056,the time is 4 years,and the rate is 8%?

1 answer:

7 0

Use the interest formula, fill in the given values, and solve for the remaining variable.
.. I = Prt
.. 1056 = P*.08*4 . . . . . . . . substitute the given values
.. 1056/0.32 = P = 3300 . . divide by the coefficient of P and evaluate

The principal is $3300.

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Violet is planning to make 32 semiannual loan payments of $1580 dollars each. If her bank charges an annual interest rate of 3.8

sergij07 [2.7K]

Answer:

$21,623.70

Step-by-step explanation:

A suitable financial calculator can compute the beginning balance and the remaining balance for you. The attachments show a TI-Nspire calculator's TVM solver app being used to answer this question.

The first attachment shows the computation of the loan value. It is about $37,624.54.

The second attachment shows the computation of the remaining balance after 16 of the 32 semi-annual payments have been made.

The loan balance 8 years from the end of the loan will be about $21,623.70.