Answer:
$90
Step-by-step explanation:
The principal amount in the loan taken by Sharon is $750 . Note hat the $20 processing fee is a one time cost and is not included in the interest calculation.
Annual Rate of interest offered to Sharon is 12%
Time interval for the loan transaction is 1 year.
So the interest for 1 year is given by \[Principal * Rate * Year /100\]
\[750 * 12 * 1 /100\] = $90
So, Sharon will have to pay $90 as interest for the loan amount $750 borrowed for one year at the rate 12%.
The answers to the first two systems of equations
Based on the types of compounding and the interest rates, the following are true:
- Part A - The group will have $750
- Part B - The group will have $759.19
When using simple interest, the amount the group will have is:
<em>= Amount x ( 1 + rate x number of years )</em>
= 600 x ( 1 + 5% x 5)
= $750
When using compound interest, the group will have:
<em>= Amount x ( 1 + rate) ^ Number of years</em>
= 600 x ( 1 + 4%)⁶
= $759.19
In conclusion, compound interest yields more.
<em>Find out more about </em><em>compound interest </em><em>at brainly.com/question/25263325. </em>
maybe a hundred or a thousand years idk so maybe 500 i dont actually know
Answer:
<h2>
<em>1</em><em>1</em><em>y</em><em>+</em><em>1</em><em>6</em></h2>
<em>Solution</em><em>,</em>
<em>
</em>
<em>hope </em><em>this </em><em>helps.</em><em>.</em><em>.</em>
<em>Good </em><em>luck</em><em> on</em><em> your</em><em> assignment</em><em>.</em><em>.</em>
