4-4=0 is an example of that
If Mike is willing to pay no more than an effective rate of 8.000% annually, the loans that meet his criteria are loan X and loan Z. Of those two, the lowest would be loan X. I hope the answer will help you :)
A is inbetween 2 and 4
B is inbetween 3 and 4
C is inbetween 4 and 5
D is inbetween 5 and 6
So the correct answer would be A B and C
Answer:
Principal = Total ÷ (1 + Rate)^years
That formula is found here: http://www.1728.org/compint2.htm
Principal = 3.000 / (1.03) ^ 15
Principal = 3.000 / 1.5579674166
Principal = $1,925.59
Step-by-step explanation: