Answer:
the monthly payment is $303.69
Step-by-step explanation:
this is how i got it:
9,550 divided by 100= 95.5
95.5 x 3.18= 303.69
so the monthly payment it $303.69
The present worth of the loan is <span>$6,250
</span>The start of payment will after 4 years
The nominal interest rate is 6.1% compounded monthly which is equal to 6.27% effective.
The future worth (after graduation) of the loan is
F = <span>$6,250 (1 + 0.0627)^4 = $7,971.18
The interest is
</span>$7,971.18 - $6,250 = $1,721.18
I didn't round off when solving these so it's not the exact answer among the choices but the closest is letter B <span>$1,722.22</span>
Answer:
option 2
Step-by-step explanation:
For this case we have an equation of the form:
y = A * (b) ^ t
Where,
A: initial amount
b: decrease rate
t: time in years.
Substituting values we have:
7 = A * (0.5) ^ ((1/20) * t)
For t = 45 years we have:
7 = A * (0.5) ^ ((1/20) * 45)
Clearing A:
A = 7 / ((0.5) ^ ((1/20) * 45))
A = 33.3
Answer:
the density of the substance when it was deposited 45 years ago was:
A = 33.3 milligrams per square centimeter
