Answer:
$149.66
Step-by-step explanation:
Step 1
Calculate Total Amount payable to the bank using compound interest
Total Amount payable (A) =
P(1 + r/n)^nt
P = Principal = $2000
r = Interest rate = 9% = 0.09
n = compounding interest = quarterly = 4
t = time in years = 2
Total Amount payable
= 2000(1 + 0.09/4)^0.09 × 2
A = $ 2,389.66
Interest = A - Principal
= $ 2,389.66 - $ 2,000.00
I (interest) = $ 389.66
Step 2
Calculate the Total amount payable to his uncle using simple interest.
Total Amount (A) = P(1 + rt)
P = Principal = $2000
r = Interest rate = 6% = 0.06
t = time in years = 2
A = 2000(1 + 0.06 × 2)
A = $2,240
A - Principal
= $ 2,240 - $ 2,000.
I (interest) = $240
Step 3
The amount of money you will save by borrowing the money from your uncle is calculated as:
Amount payable to the bank - Amount payable to your uncle
= $ 2,389.66 - $2,240
= $149.66
Therefore, the amount of money you will save by borrowing the money from your uncle is $149.66
Answer:
51
Step-by-step explanation:
204/4=51
I believe the correct answer is true. <span>When solving a system of linear equations, try to algebraically form one equation that has only one variable. In this way, you can solve the value of that variable and eventually solve the other variables. Hope this answers the question. Have a nice day.</span>
X > 6 i think is the answer
Answer:
its either def or fed
Step-by-step explanation:
