3 years ago

What is the future value (total amount due) on a $12,000 loan at 8% compounded

Mathematics

1 answer:

svp [43]3 years ago

3 0

Answer: $20,780.10

Step-by-step explanation:

You need the Compound Interest Formula

A = P(1 + r/n)^nt

Step 1: Create the equation.

12,000(1 + 0.08/2)¹⁴

Step 2: Solve the equation.

Follow PEMDAS (parenthesis, exponents, multiplication...)

Parenthesis: (1 + 0.08/2) = (1 + 0.04) = (1.04)

Exponents: (1.04)¹⁴ = (1.73168)

Multiplication: 12,000(1.73168) = 20,780.1

You might be interested in

Three teachers share 2 packs of paper equally.

cupoosta [38]

I believe the answer is C because each teacher would get 2 packs for the three that get paper

3 0

3 years ago

The peters creek restaurant has an all you can eat shrimp deal

deff fn [24]

Huh i don’t get it sorry

6 0

3 years ago

This month Salesperson A made 11% of $67,530. Salesperson B made 8% of $85,740. Who made more commission this month? How much di

laiz [17]

Answer:

Salesman A made $569.1 more commission than salesman B

Step-by-step explanation:

(11/100)*67530= (amount made by salesperson A)

=7428.3

(8/100)*85740= (amount made by salesperson B)

=6859.2

A-B= 569.1

Hope this helps :D

6 0

3 years ago

Nikhil, Davina and Sid share a tin of celebrations amongst themselves in the ratio of 8:12:20 respectively.

Sav [38]

Answer:

160

Step-by-step explanation:

n : d : s

8 : 12 : 20

davina = 48 sweets

48/12 = 4

8 + 12 + 20 = 40

40 x 4 = 160 sweets total

5 0

2 years ago

84.87 is 115% of what

elena-s [515]

Divide 84.87 by 1.15, and you get 73.8

Then you can check your work by multiplying 73.8 by 1.15 and you get 84.87

6 0

3 years ago