The borrower owes $14,760.82 at the end of 8 years
What is compounding interest?
Compounding interest means that earlier interest would earn more interest in the future alongside the loan principal.
Note that in this case the loan continues to accumulate interest because there no repayments, in other words, the loan balance after 8 years, which comprises of the principal and interest for 8 years can be computed using the future value formula of a single cash flow(the single cash flow is the principal) as shown thus:
FV=PV*(1+r/n)^(n*t)
FV=loan balance after 8 years=unknown
PV=loan amount=$5,000
r=annual interest=14%
n=number of times in a year that interest is compounded=2(twice a year)
t=loan period=8 years
FV=$5000*(1+14%/2)^(2*8)
FV=$5000*(1.07)^16
FV=$5000*2.95216374856541
FV=loan balance after 8 years=$14,760.82
Find out more about semiannual compounding on:brainly.com/question/7219541.
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Answer:
yes
Step-by-step explanation:
yes they are :)))))
Answer:
<em>x = -10</em>
Step-by-step explanation:
(9/2)(8 - x) + 36 = 102 - (5/2)(3x + 24)
Multiply both sides by 2.
9(8 - x) + 2 * 36 = 2 * 102 - 5(3x + 24)
Distribute on both sides.
72 - 9x + 72 = 204 - 15x - 120
Combine like terms on each side.
144 - 9x = 84 - 15x
Subtract 144 from both sides. Add 15x to both sides.
6x = -60
Divide both sides by 6.
x = -10
Answer:
'A' is true; theoretically, 50% of the data items reside between the first and third quartiles (40 and 67.5)
Step-by-step explanation:
Range is 84-28 which is 56
Median is 51
1.5 x Interquartile Range (IQR) = 1.5(67.5-40) which equals 41.25
Q1 is 40
Q1 - IQR = -1.25
Low outliers are below -1.25 - 41.25; there are not data items below -42
Answer:
D
Step-by-step explanation:
∠AXD = 180°
∠AXB = 32°
so you do 180 - 32 and you get 148. hope I helped:)
