Answer: $3,927
Step-by-step explanation:
The interest will accrue as a simple interest rate for 10 years and then the grace period of six months.
The total time is therefore: 10.5 years.
Interest for those 10.5 years is:
= Loan amount * No. of periods * interest rate
= 5,500 * 10.5 * 6.8%
= $3,927
Answer:
p = 2
Step-by-step explanation:
p + 4/p - 4
multiplying through by p,
p×p + 4/p ×p - 4×p
p² + 4 - 4p = 0
p² - 4p + 4 = 0
factorizing,
p(p - 2) -2(p - 2) =0
(p -2)(p -2) =0
p-2 =0
p=2
2 and 14/15
Because the first step of subtraction is common denominators