The graph is turned upside down. A negative parabola points down rather than up.
Answer:
15000(1.003425)^12t ;
4.11%
4.188%
Step-by-step explanation:
Given that:
Loan amount = principal = $15000
Interest rate, r = 4.11% = 0.0411
n = number of times compounded per period, monthly = 12 (number of months in a year)
Total amount, F owed, after t years in college ;
F(t) = P(1 + r/n)^nt
F(t) = 15000(1 + 0.0411/12)^12t
F(t) = 15000(1.003425)^12t
2.) The annual percentage rate is the interest rate without compounding = 4.11%
3.)
The APY
APY = (1 + APR/n)^n - 1
APY = (1 + 0.0411/12)^12 - 1
APY = (1.003425)^12 - 1
APY = 1.04188 - 1
APY = 0.04188
APY = 0.04188 * 100% = 4.188%
Answer:
$9.33
Step-by-step explanation:
quarter = 25 cents
dime = 10 cents
nickel = 5 cents
penny = 1 cent
31 (0.25) = 7.75
13 (0.10) = `1.30
5 (0.05) = 0.25
3(0.01) = 0.03
7.75 + 1.30 + 0.25 + 0.03 = 9.33