Answer:
Step-by-step explanation:
<u>Use formula for continuous interest:</u>
- A =
, where r- interest rate, t- time in years
<u>If A = 3P, and r = 0.085 then the equation is:</u>
- ln 3 = 0.085t
- 1.099 = 0.085t
- t = 1.099 / 0.085
- t = 12.9 ≈ 13 years
K, so am assuming of th next day
from 7pm to 12 midnight is 5 hours
from 12 midnight so 3am is 3 hours
3+5=8
8 hours total
checked double the amoutn last time
he spent 16 hours last time?
Answer:
$1015.67
Step-by-step explanation:
The appropriate formula for the payment amount (A) for principal P and interest rate r over time period t years is ...
A = P·(r/12)/(1 -(1 +r/12)^(-12t))
Filling in the given numbers, you get ...
A = 176,900·(.0482/12)/(1 -(1 +0.0482/12)^-300) ≈ 1015.67
Violet's monthly payment for principal and interest is $1015.67.
