Question

Hi boys can u pls help!!!!! Or girls it doesn't even matter at this point.

Answer 1

See explanations on compound interest formula.

Step-by-step explanation:

Given that the formula which models the situation is;

$P(1+\frac{r}{n} )^{nt}$

This can be written as the compound interest formula where;

$A=P(1+\frac{r}{n} )^{nt}$ where

A=amount after the time period

P=starting amount=$300

r=interest rate=15%=0.15

n=number of compounding per year

t=time period

A.

P=$300, r=0.15, n=12

P(1+r/n)^nt

300(1+0.15/12)^12t

300(1.0125)^12t

A=300(1.0125)^12t

Introducing logs both sides

$A=300(1.0125)^{12t}$

$\frac{A}{300} =(1.0125)^{12t} \\\\\\log(\frac{A}{300} )=12tlog(1.0125)\\\\\\log(\frac{A}{300} )/12log1.0125=t$

B.

Applying the compound interest formula where P=$300, t=4, n=4 and r=0.15

$A=P(1+\frac{r}{n} )^{nt} \\\\\\A=300(1+0.15/12)^{4*12} \\\\\\A=300(1.0125)^{48} \\\\\\A=544.61$

Interest= 544.61-300 =$244.61

C.

Finding the numeric expression to evaluate a yearly compounding interest rate you use n=1

$A=P(1+\frac{r}{n})^{nt} \\ \\\\A=P(1+r/1)^{1*t} \\\\A=P(1+r)^{t}\\\\\\\\Interest=A-300\\\\Interest=P(1+r)^{t} -300$

D.

Given that P=$300, r=0.15, n=1,t=4 then, finding the amount and the interest will be;

$A=P(1+\frac{r}{n} )^{nt} \\\\\\A=300(1+\frac{0.15}{1} )^{1*4} \\\\\\A=300(1.15)^{4} \\\\A=300*1.7490=524.70$

interest to pay = 524.70-300=$224.70

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Compound Interest :brainly.com/question/7014337

Keywords: exponential expression,interest rate, credit card, compounded monthly, yearly,minimum payments

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