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Komok [63]
3 years ago
13

Walter took out a $6,000 loan for six years. He is being charged 6 percent interest, compounded annually. Calculate the total am

ount he will pay.
Mathematics
1 answer:
cluponka [151]3 years ago
8 0

Answer:

  $8511.11

Step-by-step explanation:

Each year, the amount Walter owes is multiplied by 1.06, so at the end of 6 years, Walter owes 1.06^6 times the amount he borrowed.

  he will pay $6,000×1.06^6 ≈ $8511.11

_____

At the end of the first year, Walter owes the original loan amount plus 6% interest. That total is ...

  $6000 + 0.06×6000 = $6000×1.06

At the end of the following year, he owes 1.06 times that amount, or ...

  6000×1.06²

The amount owed is multiplied by 1.06 each year until Walter pays off the loan.

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Question 3 of 10 The answer should be 7

Step-by-step explanation:

The reason is  because if it is out of 100 7/100 is still 7%

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What is the inverse of the function f(x) = x + 2?
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Turn f(x) into y so the equation is y=x+2. Now switch their places so it is x=y+2. Now solve for y. The answer is y=x-2.
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Pure maths<br><br>A(1;2)and b(6;3)and c(6;1)<br>​
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Step-by-step explanation:

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4 0
3 years ago
Which of the following is a geometric series? 40 + 50 + 60 + 70 40 + 42 + 44 + 46 40 + 80 + 40 + 120 40 + 20 + 10 + 5
Aloiza [94]

Answer:

40 + 20 + 10 + 5 is a geometric series

Step-by-step explanation:

* Lets revise the geometric series

- There is a constant ratio between each two consecutive numbers

- Ex:

# 5  ,  10  ,  20  ,  40  ,  80  ,  ………………………. (×2)

# 5000  ,  1000  ,  200  ,  40  ,  …………………………(÷5)

* General term (nth term) of a Geometric Series:

∵ U1 = a  ,  U2  = ar  ,  U3  = ar2  ,  U4 = ar3  ,  U5 = ar4

∴ Un = ar^n-1, where a is the first term , r is the constant ratio

  between each two consecutive terms , and n is the position of

  the term in the series

* Now lets check the answers to find the correct one

# 40 + 50 + 60 + 70

∵ 50/40 = 5/4

∵ 60/50 = 6/5

∵ 5/4 ≠ 6/5

- No common ratio between each two consecutive terms

∴ Not geometric series

# 40 + 42 + 44 + 46

∵ 42/40 = 21/20

∵ 44/42 = 22/21

∵ 21/20 ≠ 22/21

- No common ratio between each two consecutive terms

∴ Not geometric series

# 40 + 80 + 40 + 120

∵ 80/40 = 2

∵ 40/80 = 1/2

∵ 2 ≠ 1/2

- No common ratio between each two consecutive terms

∴ Not geometric series

# 40 + 20 + 10 + 5

∵ 20/40 = 1/2

∵ 10/20 = 1/2

∵ 5/10 = 1/2

- There is a common ratio between each two consecutive terms

∴ 40 + 20 + 10 + 5 is a geometric series

7 0
3 years ago
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