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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

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4 years ago

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Answer:

Jayanta needs 2 labor union groups and 8 church groups.

Step-by-step explanation:

Let c denotes churches .

Let l denotes labor unions.

We know that Jayanta can only spend 20 hours letter writing and 14 hour of follow-up.

So, equations becomes:

$2c+2l=20$

$c+3l=14$

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We will solve the two equations: $2c+2l=20$ and $c+3l=14$

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3 years ago