Let me help you, but first I will explain the formula used to calculate monthly compound interest.
The formula used to calculate compound monthly compound interest is
a=p(1+r/n)^nt
P Represents the principal
R Represents the rate (in decimal)
N is basically 12 months
T Represents the time (in years)
Let's plug the numbers in.
First statement
"His bank has offered him a loan at 13% interest for 36 months"
12000(1+.13/12)^(12)(3)
12000(1+.13/12)^(12)(3) = $17,686.64
Second statement
"12% interest for 60 months"
Plug in the numbers into the formula.
12000(1+.12/12)^(12)(5)
12000(1+.12/12)^(12)(5) = 21,000.36
<u>Answer</u>
The answer would be "13% interest for 36 months" as it is much lower compared to the other statement.
7/9 of 3/14 is 1/6.
Tell me if I'm wrong.
Hope this helps :)
Answer:
1/4 or 0.25
Explanation: Convert the mixed numbers to improper fractions, then find the LCD and combine.
Answer:
x > 77
Step-by-step explanation:
According to order of operations rules, we must carry out division before addition or subtraction. In this case we wish to isolate x and are permitted to simplify the inequality by combining the "like terms" 3 and 8, as follows:
X/7-3>8
+3 +3
--------------
x/7 > 11
The easiest way in which to solve for x is to multiply both sides of this inequality by 7:
7(x/7) > 7(11), or
x > 77
All numbers greater than 77 are part of the solution set.