Answer:
<h2>-
56,667cents</h2><h2>
- 6.17%</h2>
Step-by-step explanation:
Before we can determine the monthly loan paymnet, we must first calculate the total amount paid at the end of 6years.
Amount = Principal + Interest
Given Principal = $30,000
Interest = Principal * rate * time/100
Interest = $30,000*6*6/100
Interest = $10,800
Amount = $30,000+ $10,800
Amount = $40,800
If amount paid after 6years is $40,800, my monthly loan payment = $40,800/72 ≈ $566.67 to nearest dollar.
since $1 - 100cents
$566.67 = 100 * 566.67
$567 = 56,667cents
Monthly loan payment to nearest cent will be 56,667cents
EFF = (1 + r /n)^n - 1
r is the rate and n is the number of period per year which is 12months
%EFF = EAR = (1 + 0.06 /12)^ 12 - 1
%EFF = 1.005^12
%EFF = 1.061678 - 1
%EFF = 0.061678
%EFF = 6.17% to 2dp
Answer: The Last option is the only option equivalent to that equation.
Answer:
1. you start with $ 3 and save $1 each month
2. your total savings is 3 times the number of month multiplied by itself
3. you save $3 the first month and then each month the amount triples
Step-by-step explanation:
1.
as y axis represents savings while x axis represents months
the statement "you start with $ 3 and save $1 each month"
is best described by the graph of straight line having slope of 1 and intercept of 3.
2. your total savings is 3 times the number of month multiplied by itself
= 3(x)(x)
= 3x^2
3. as y axis represents savings while x axis represents months
the statement "you save $3 the first month and then each month the amount triples" is best described by the exponential graph starting to rise from point (1,3) which means $3 save at 1 month.
!
Answer:
Step-by-step explanation:
Hope this helps!
3/5 is greater because the decimal is .6 while 21/40 is .525
