Answer:
they have lower interest rates and can be paid back with a lower out of pocket cost
Step-by-step explanation:
Student loans are issued as a kind of financial aid that assist students in their quest to acquire higher education. Private student loans are offered by the private-sector lenders. The alternative to this is a Federal loan.
Actually, private student loans are issued at a lower interest rate. Option of a fixed or variable interest rate may be offered on privately issued student loans. This offers a lower out of pocket cost, hence the answer.
Answer:
1. $686.94
2. $735.03
3. $10707.55
4. $17631.94
5. $19635.72
Step-by-step explanation:
1st Question:
The interest rate is 7% for each year. This means that each year the person has to pay 7% more than the previous amount. So we need to multiply the initial amount by (0.07+1=1.07) in order to get the interest for the first year. if we want to find the second year's interests then we will have to multiply 2 (1.07)'s and so on.
in this case our function is: 600*(1.07)^t=P(t)
when t=2 P(2)=600*(1.07)^2=$686.94
2nd Question:
Function: 600*(1.07)^t=P(t)
when t=3 P(3)=600*(1.07)^3=$735.03
3rd Question:
initial value=$8500
1+0.08=1.08
Function: 8500*(1.08)^t=P(t)
t=3
P(3)=8500*(1.08)^3=$10707.55
4th Question:
initial value=$12000
1+1.08=1.08
t=5
Function: P(t)=12000*(1.08)^t
P(5)=12000*(1.08)^5=$17631.94
5th Question:
Function: 14000*(1.07)^t=P(t)
P(5)=14000*(1.07)^5
P(5)=$19635.72
Answer:
f(n)= -40.
Step-by-step explanation:
Answer:
Step-by-step explanation:
1 pair of wings = 3/4 yard fabric
We know that 1 yard of fabric = $8
1 pair of wings = $8 x 3/4 = $6
Therefore total cost = $6 x 13 = $78
