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Since only the principal value, interest rate and interest period are given, we can deduce that "finance charge" only includes the interest to be paid at the end of the term. This can be obtained by subtracting the principal value from the future value which we will solve for.
The future value can be solved by using the following compound interest formula:
Let:
F = Future value
P = Principal value
r<span> = annual interest rate </span>
n<span> = number of times that interest is compounded per year</span>
t<span> = number of years</span>
F = P(1 + r/n)^nt
Substituting the given values:
F = 4250(1 + 0.1325/12)^(12*2)
F = 5531.54
Subtracting P from F:
Finance charge = 5531.54 - 4250 = 1281.54
Therefore the finance charge is $1,281.54
Answer:
16 ft
Step-by-step explanation:
Based on the situation above, it forms into a right triangle. Therefore we can apply the Pythagorean Theorem. We will use the formula below:
c = √( a² + b²)
In the problem above, the ladder acts as the hypotenuse denoted by c. It has a length of 20 ft. While the base denoted by b is 12 ft. Therefore, we need to solve for a. We will derive the formula above.
c² = a² + b²
a² = c² - b²
a = √( c² - b² )
a = √( 20² - 12² )
a = 16
The unit is in ft.
Correct me if I'm wrong. I hope it helps.
Answer:
what do you need help with? can you explain please
