Answer:

Step-by-step explanation:


Change 1/4 to a decimal is an exponent by 4 and the answer would be 0.0039
Percentages and fractions so if you had to write 45 as a percentage it would be 45% and if you had to write it as a fraction it would be 45/100. In this case, you have 53.02 so as a percentage it would be 53.02% and as a fraction it would be 53/100. Hope this helps!!
Answer:
$25,193.17
Explanation:
Given:
• Principal Felipe borrowed, P=$8000
,
• Annual Interest Rate, r=16.5%=0.165
,
• Compounding Period, k=12 (Monthly)
,
• Time, t=7 years
We want to determine how much he will owe after 7 years.
In order to carry out this calculation, use the compound interest formula below:

Substitute the values defined above:

Finally, simplify and round to the nearest cent.

After 7 years, Felipe will owe $25,193.17.
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