Answer:
The amount needed to pay off the loan after 4 years is $70,192
Step-by-step explanation:
When interest is compounded annually, total amount A after t years is given by:
where P is the initial amount (principal), r is the rate and t is time in years.
From the question:
P = $60,000
r = 4% = 0.04
t = 4
The amount needed to pay off the loan after 4 years is $70,192
If we divide the amount by four, we will get the amount that is paid yearly (70192/4 = 17548). $17,548 is paid yearly.
Answer:
Step-by-step explanation:
GIVEN: A fence is used to enclose a rectangular land plot. If the area of the land plot is
.
TO FIND: equation to determine the length of the land plot.
SOLUTION:
total length of fence
let the width of land plot be
perimeter of plot
area of rectangular plot
putting value of
Hence required equation to get length of land plot is
on solving
possible length of land plot is and