Answer:
A) $257.83
Step-by-step explanation:
A spreadsheet or financial calculator will tell you the monthly payment on $11,000 at 5.9% annual rate for 4 years is ...
$257.83
Y = -6x + 2 . . . . . . . . (1)
-12x - 2y = -4 . . . . . . (2)
Putting (1) into (2), we have
-12x - 2(-6x + 2) = -4
-12x + 12x - 4 = -4
-4 = -4
Therefore, the system has infinite number of solutions.
Please look at the attached file, it may help you
Answer:
A = $ 7,299.92
A = P + I where
P (principal) = $ 6,000.00
I (interest) = $ 1,299.92
Step-by-step explanation:
A = P(1 + r/n)nt
Where:
A = Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Annual Nominal Interest Rate in percent
r = Annual Nominal Interest Rate as a decimal
r = R/100
t = Time Involved in years, 0.5 years is calculated as 6 months, etc.
n = number of compounding periods per unit t; at the END of each period
