Answer:
A. $3,984
Step-by-step explanation:
The amount of interest is computed from ...
I = Prt
For the given values, the interest is ...
I = $3600×0.08×(16/12) = $384
Then the total amount that needs to be repaid is ...
Principal + Interest = $3600 +384 = $3,984
_____
The time period is 16 months, so is 16/12 years.
The time periods of the interest rate and "t" in the formula must match. If the interest rate is an annual rate, then "t" is in years. If the interest rate is a monthly rate, then "t" is the number of months.
Answer:
6.813·10^7
Step-by-step explanation:
Multiplying 0.0000006813 by 10^7 will move the decimal point 7 places to the right, resulting in 6.813.
Conversely, multiplying 6.813 will move the decimal point 7 places to the left, producing the original decimal fraction.
Therefore,
0.0000006813 = 6.813·10^7
The answer would be 15.7142857143
You can get the answer by calculating (5/7) × 22
Answer:
≈$4607
Step-by-step explanation:
I will assume it's compounded yearly.
Apply the compound interest formula.
A = Total
P = Initial Principle
r = Interest Rate
n = number of interest in every t period
t = number of periods
In the case,
P = 3500
r = 3.1% = 0.031
n = 1
t = 9
Hence,
A ≈ 4607 (nearest whole number)
Answer:
8/3
Step-by-step explanation:
