Answer:
$10,603.20
Step-by-step explanation:
You can calculate the simple interest of the loan using the formula:
I = prt, where I = interest, p = principal amount, r = interest rate and t = time. Plugging in the values from the problem:
p = $7,050
r = 8.4% or 0.084
t = 6 years
I = (7050)(0.84)(6) = $3,553.20
To find the total cost of the boat, add the interest and the purchase price:
$7,525 + $3,553.20 = $11,078.20
The answer is D.
Y=2x Y=x(2)-3
2=2(1) 2=3(2)-3
2=2 2=6-3
2=2
Answer:
True
Step-by-step explanation:
The year is typically divided into equal different lengths of time. There are, for example, quarters, which divide the year by 4, i. e., in 4 periods of 3 months each. Other example are semesters, in this case, the year is divided into 2 periods of 6 months each. Taking this into account, an interest calculated on a balance every three months is compounded quarterly.
Answer:
29.714
Step-by-step explanation:
12/3 (52/7) = 4 *( 52/7) = 29.714
