For 5 and 6 plsssssssss
1 answer:
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Answer:
<em>$79,381</em>
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Step-by-step explanation:
We can use the formula for compound growth to solve this. Thus,
Where
F is the future amount (the amount that must be paid back)
P is the initial amount (it is 46,000)
r is the annual rate of interest (here it is 6.25%, in decimal it is 0.0625)
t is the number of year (9 years, t = 9)
<em>Putting them into the formula, we can solve for F, our answer:</em>
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<em>Rounded to nearest dollar, $79,381</em>
They're not equal, so they're not proportional.
