Answer:
F = $13,802.31
she can finance $13,802.31 with this loan.
Step-by-step explanation:
Given;
Rate r = 7% = 0.07
Time t = 4 years
Payment per month MP = $250
Number of months per year n = 12
This can be solved using compound interest for future value series formula;
F = future value
F = MP(((1 + r/n)^(nt) - 1)/(r/n))
Substituting the given values, we have;
F = $250(((1 + 0.07/12)^(12×4) - 1)/(0.07/12))
F = $13,802.31
Answer: 6 and 1/4
Step-by-step explanation: To solve this problem, we first leave 5/2 alone so don't do anything to it.
For our second fraction, we want to switch the numerator and the
denominator which means find the reciprocal of it.
The reciprocal of 2/5 is just the opposite of it when
you flip it and it's going to be 5/2.
Because we did the opposite there, we need to do the opposite
of division and the opposite of division is multiplication.
So now we have 5/2 × 5/2 which is 25/4 or 6 and 1/4.
Answer:
9,000
Step-by-step explanation:
