Answer:
A
Step-by-step explanation:
The answer is A because all of the other options are favorable circumstances to refinance. There's no need to refinance if the loan in question (a mortgage in this case) has already been paid off.
Find the difference, so subtract the two and you should get the answer from earth to Venus
The answer is the first and the third figure,attached
9514 1404 393
Answer:
11
Step-by-step explanation:
The future value of the account is given by the formula ...
A = P(1 +r/12)^(12t) . . . . principal P invested at rate r for t years
Solving for t, we find ...
A/P = (1 +r/12)^(12t) . . . . . . . . . . . divide by P
log(A/P) = 12t·log(1 +r/12) . . . . . . take logs
Divide by the coefficient of t, then fill in the numbers.
t = log(A/P)/(12·log(1 +r/12)) = log(202800/93000)/(12·log(1 +.068/12))
t ≈ 11.497
It will take about 11 years for the account balance to reach the desired amount.