Milton took out a loan for S2400 at 7% interest compounded annually the makes yearly payments of $140, will he ever pay off the
1 answer:
Answer:
We will choose option D.
Step-by-step explanation:
Milton took out a loan for $2400 at 7% interest compounded annually.
So, after one year his loan will grow up to dollars.
Therefore, the interest added to the principal is $(2568 - 2400) = $168
But Milton makes yearly payment of $140 which is less than the interest i.e. $168 which is added to his loan in the first year.
Therefore, he can not ever pay off the loan.
So, we will choose option D. (Answer)
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Answer:
Step-by-step explanation:
Let's find the answer.
Because we have 3 equations and 3 variables (x1, x2, x3) a 3x3 matrix (A) can be constructed by using their respectively coefficients.
Equations:
Eq. 1 : x1 + 2x2 + 5x3 = 5
Eq. 2 : x1 + x2 + x3 = 6
E1. 3 : 4x1 + 6x2 + 5x3 = 7
Coefficients for x1 ; x2 ; x3
From eq. 1 : 1 ; 2 ; 5
From eq. 2 : 1 ; 1 ; 1
From eq. 3 : 4 ; 6 ; 5
So matrix A is:
And the vector of vriables (X) is:
Now we can find the resulting vector (B) using the 'resulting values' from each equation:
In conclusion, AX=B is: