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:
Number of Books. Cost (dollars). 7 14. 8 16. 9 18. Find equivalent ratios when the number of books ordered is 1, 2, and 3. Write them as ordered pairs in the form...
Answer:
n = -5
Step-by-step explanation:
n - 4 = 3n + 6
n = 3n + 10
-2n = 10
n = -5
Answer: 698 699 700
Step-by-step explanation:
Because if you add the 3 of the numbers you get 2097