The amount he needs to pay is $ 28753.61.
Step-by-step explanation:
Given,
Principal (P) = $ 8000
Time (T) = 10 years
Rate of interest (R) = 13%
The payment will be quarterly so, n = 4
To find the amount of compound interest.
Formula
Amount =
Now,
Putting the values of P, T, n and R we get,
Amount = 8000(
= 28753.61 (approx)
Step-by-step explanation:
The first step is to find the (b − a) / n factor in the limit of the Riemann sum. This is the Δx.
The next step is to identify the function and the argument, f(xᵢ). The argument xᵢ looks like a + i (b − a) / n.
From there, you can write two equations:
Δx = (b − a) / n
xᵢ = a + i (b − a) / n = a + i Δx
Since you know xᵢ and Δx, you can identify a. And when you know a, you can plug that into Δx to find b. So now you have the limits of the definite integral.
Finally, write the integral using the limits and the function.
Here's an example. Suppose you have the limit:
lim(n→∞) ∑ᵢ₌₁ⁿ √(1 + 3i/n) (3/n)
First, we notice that Δx = (b − a)/n = 3/n. So b − a = 3.
Next, we identify that xᵢ = 1 + 3i/n = a + i (3/n), so a = 1. Therefore, b = 4.
Now, we identify the function, f(xᵢ) = √xᵢ.
Finally, we plug it all into a definite integral:
∫₁⁴ √x dx
