Answer: Infinitely many solutions when we graph this it comes out as one straight line also try using Desmos it helps with equations like this by graphing them for you! -Your friend, Bill Cipher
Step-by-step explanation: Have a great Valentines day <3
The borrower owes $14,760.82 at the end of 8 years
What is compounding interest?
Compounding interest means that earlier interest would earn more interest in the future alongside the loan principal.
Note that in this case the loan continues to accumulate interest because there no repayments, in other words, the loan balance after 8 years, which comprises of the principal and interest for 8 years can be computed using the future value formula of a single cash flow(the single cash flow is the principal) as shown thus:
FV=PV*(1+r/n)^(n*t)
FV=loan balance after 8 years=unknown
PV=loan amount=$5,000
r=annual interest=14%
n=number of times in a year that interest is compounded=2(twice a year)
t=loan period=8 years
FV=$5000*(1+14%/2)^(2*8)
FV=$5000*(1.07)^16
FV=$5000*2.95216374856541
FV=loan balance after 8 years=$14,760.82
Find out more about semiannual compounding on:brainly.com/question/7219541.
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You're trying to find constants
such that
. Equivalently, you're looking for the least-square solution to the following matrix equation.
To solve
, multiply both sides by the transpose of
, which introduces an invertible square matrix on the LHS.
Computing this, you'd find that
which means the first choice is correct.
