Answer:
c
Step-by-step explanation:
Answer:
--- function
The monthly rate is 10%
Step-by-step explanation:
Given
Let

So, we have:
--- Monday
--- One month later
Required
The function
The function is represented as:
In
, we have:




In
, we have:


Substitute: 

Solve for b


So, the function is:


To calculate the monthly rate (r), we have:

Compare to: 

Make r the subject

Substitute 


Express as percentage


Combine like terms-- you can combine the k's:

Now you have:

Simply divide both sides by 2.5 to find the value of k:
Y = - 5
I hope this helps. :)
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.