By Evaluating the Compound Interest, we come to know that Rajesh will have enough money in the account to cover all of the required loan payments.
The Principal Amount(P) = $30,000
Rate of Interest (r) = 2.16 %
Time(t) = 10 years
Number of Times it is Compounded in a year(n) = 12
Now, we have
Putting all the values, we evaluate the amount,
Hence, the Amount after Compound Interest = $37,225.87
Now, The loan amount that he pays = 300 *12*10 = $ 36,000
Yes, he will have enough money in the account to cover all of the required loan payments.
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Step-by-step explanation:
3x+8<4x−12
Move all terms containing x
to the left side of the inequality.
Tap for more steps...
−x+8<−12
Move all terms not containing x
−x<−20
x>20
Interval Notation:(20,∞)
With the help of the given equation, we know that the automobile is worth $12528.15 after four years.
<h3>
What are equations?</h3>
- A mathematical equation is a formula that uses the equals sign to represent the equality of two expressions.
- a formula that expresses the connection between two expressions on each side of a sign.
- Typically, it has a single variable and an equal sign.
- Like this: 2x - 4 Equals 2.
- In the above example, the variable x exists.
So, the equation of depreciation: y = A(1 - r)∧t
The current value is y.
A is the initial cost.
r is the depreciation rate.
t is the time in years, and
In four years, we must ascertain the present value.
Now,
y = $24000(1 - 0.15)⁴
y = 24000(0.85)⁴
y = 24000 × 0.52200625
y = 12528.15
Therefore, with the help of the given equation, we know that the automobile is worth $12528.15 after four years.
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Complete question:
The general equation for depreciation is given by y = A(1 – r)t, where y = current value, A = original cost, r = rate of depreciation, and t = time, in years. The original value of a car is $24,000. It depreciates 15% annually. What is its value in 4 years? $
