16.54 as a mixed number
2 answers:
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Answer:
We will choose option D.
Step-by-step explanation:
Milton took out a loan for $2400 at 7% interest compounded annually.
So, after one year his loan will grow up to dollars.
Therefore, the interest added to the principal is $(2568 - 2400) = $168
But Milton makes yearly payment of $140 which is less than the interest i.e. $168 which is added to his loan in the first year.
Therefore, he can not ever pay off the loan.
So, we will choose option D. (Answer)
The sum will be:
sigma(i = 1 to infinity, 30*(2/5)^i)
->
Which is equal to 30/(3/5) = 50
sigma(i = 1 to infinity, 30*(2/5)^i)
->
Which is equal to 30/(3/5) = 50