Answer:
990
Step-by-step explanation:
M/J = 2/7
J = 3/4 L
L = M + 396
7M = 2J
J = 3.5M
3.5M = 3/4 L
L = 4/3(3.5M)
L = 14/3 M
14/3 M = M + 396
11/3 M = 396
M = 3/11 × 396
M = 108
L = M + 396
L = 108 + 396
L = 504
J = 3/4 L
J = 3/4 × 504
J = 378
M + L + J = 108 + 504 + 378 = 990
Answer:
$215,892.50
Step-by-step explanation:
This is a problem of compound interest.
In compound interest Amount A for principal p charged at interest r% per annum is given by
A = p(1+r/100)^n
where n is the time period in years.
_____________________________
given
p = $100,000
r = 8%
t = 10 years
A= 100,000( 1+ 8/100)^10
A= 100,000( 1.08)^10
A = $215,892.50
So , you need to pay $215,892.50 in total to debt cleared of debt.
