The present worth of the loan is <span>$6,250
</span>The start of payment will after 4 years
The nominal interest rate is 6.1% compounded monthly which is equal to 6.27% effective.
The future worth (after graduation) of the loan is
F = <span>$6,250 (1 + 0.0627)^4 = $7,971.18
The interest is
</span>$7,971.18 - $6,250 = $1,721.18
I didn't round off when solving these so it's not the exact answer among the choices but the closest is letter B <span>$1,722.22</span>
Step-by-step explanation:
0.05*6=0.3*5000=1500
Answer:
dress? or address?
Step-by-step explanation:
(x1+x2)/2 , (y1+y2)/2 = midpoint
-3+5=2 2/2=1
x=1
4+-8=-4 -4/2=-2
y=-2
Midpoint: (1,-2)
