To find the total amount
The formula is
A=p (1+r)^t
A total amount?
P present value 1050
R interest rate 0.06
T time 25 years
A=1,050×(1+0.06)^(25)=4,506.46
Interest amount
I=A-p
I=4,506.46−1,050
I=3,456.46
$67.82 if you pay it on time.
$90.43 if you pay it late.
Answer:
C
Step-by-step explanation:
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Divide by 3 on both sides
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