What is the value of (y^-5/x^-3) for x = 2 and y = -4
1 answer:
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Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
The total interest is $107,270
What is monthly payment formula?
The formula for monthly payment is:
We can find total interest as shown below:
Value of property = $475,000
Money available as a deposit = $80,000
P = 475,000-80,000
= 395000
t = 25 year
r = 2% = 0.02
n = 25*12 = 300
Putting the value of P, t, r, and n in the above formula
after solving the above expression
M = $1674.22
Interest = M*n-P
Putting the value of P, n and M
= 1674.22*300-395000
= 502266-395000
= 107,266
Rounding to nearest ten dollar
= $107,270
Hence, the total interest is $107,270.
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