2 years ago

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

Mathematics

1 answer:

svp [43]2 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

PLEASE HELP ASAP! which of the following was not true about the united states in the mid-1830s to help set the stage for the era

kozerog [31]

Answer:

The Answer is: B) The country was at war

Step-by-step explanation:

Out of all of these, B was incorrect.

6 0

3 years ago

Read 2 more answers

i am trying to put a fence around a garden that is in the shape of a regular hexagon. i know that the side of the garden is 6ft

finlep [7]

There are 6 sides to a hexagon and each side of the fence will be 6+2 = 8 feet

So you'll need 8*6 = 48 feet of fencing.

6 0

3 years ago

When 2/3 of a number is increased by 20, the sum is then halved, the result obtained is the same as 2/3 of the number, increased

aleksklad [387]

$\frac{2/3x+20}{2} =\frac{2}{3} x+3\\\frac{2/3x+20}{2} - 3 = \frac{2}{3}x\\\frac{2/3x+20}{2} - \frac{6}{2} = \frac{2}{3}x\\\frac{2/3x+20-6}{2} = \frac{2}{3}x\\\frac{2/3x+14}{2} = \frac{2}{3}x\\2(\frac{2/3x+14}{2}) = 2(\frac{2}{3}x)\\2/3x+14=\frac{4}{3}x\\14=\frac{4}{3}x-\frac{2}{3}x\\14=\frac{2}{3}x\\\frac{14}{1}/\frac{2}{3}=x\\\frac{14}{1}*\frac{3}{2}=x\\7*3=x\\x=21$

The number is 21.

4 0

3 years ago

For a Brainlist !!!!!!!

UNO [17]

y=-7x+2

m=-7, so that's a negative slope.

b=2, so the y-intercept is (0,2). That's a postiive y-intercept.

Solve 0=-7x+2 to find the x-intercept.

7x=2

x=2/7

The x-intercept is (2/7,0), so that's a positive x-intercept.

6 0

2 years ago

In 2007, a census counted 2815 of a certain animal. This was 315 fewer than the number counted in 2006. What was the population

Irina-Kira [14]

Answer: 3,130

Step-by-step explanation: 2,815 + 315 = 3,130

7 0

3 years ago