3 years ago

a vet borrows $12,000 for 4 years. The total interest paid was $875. what was the interest rate on the loan

Mathematics

1 answer:

Law Incorporation [45]3 years ago

7 0

$2,125. I hope I helped.

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irina1246 [14]

3)
Principal Amount = P = $7200
Interest rate = r = 4% = 0.04
Time = t = 8 years

Formula for compounding is:

$A=P (1+r)^{t}$

Using the values, we get:

$A=7200 (1+0.04)^{8}=9853.70$

Therefore, the compounded amount will be $9853.70

4)
Principal Amount = P = $7200
Compounded Amount = A = $9853.70

Interest Earned = Compounded Amount - Principal Amount
So,
Interest Earned = 9853.70 - 7200 = $2653.70

Therefore, $2653.70 will be earned as interest over a period of 8 years.

5 0

3 years ago

Round 57,386 to the nearest thousand

DochEvi [55]

57 thousand. Since 3 is closer to 0 than it is to 10

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3 years ago

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Vinvika [58]

Im 90% sure its 0.21

hope I helped

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