Answer:
j=76 and k=65
Step-by-step explanation:
7B+5Y=487B+1Y=40Subtracting Eqn 2 from 1 we get 4Y=8so Y = $2 and X=$38/7
Answer:
-1
Step-by-step explanation:
Answer: $32,732.58
Step-by-step explanation:
To calculate the total loan payment over the course of the loan period, use the future value formula:
= Loan amount * (1 + rate) ^ number of years
As this loan is compounded monthly, you need to convert certain terms to monthly figures:
Number of periods = 6 * 12 months = 72 months
Interest = 4.5 / 12 = 0.375%
Total payment:
= 25,000 * ( 1 + 0.375%)⁷²
= $32,732.58
