Answer:
15000(1.003425)^12t ;
4.11%
4.188%
Step-by-step explanation:
Given that:
Loan amount = principal = $15000
Interest rate, r = 4.11% = 0.0411
n = number of times compounded per period, monthly = 12 (number of months in a year)
Total amount, F owed, after t years in college ;
F(t) = P(1 + r/n)^nt
F(t) = 15000(1 + 0.0411/12)^12t
F(t) = 15000(1.003425)^12t
2.) The annual percentage rate is the interest rate without compounding = 4.11%
3.)
The APY
APY = (1 + APR/n)^n - 1
APY = (1 + 0.0411/12)^12 - 1
APY = (1.003425)^12 - 1
APY = 1.04188 - 1
APY = 0.04188
APY = 0.04188 * 100% = 4.188%
Answer:
(-2, -2)
Step-by-step explanation:
Red point represents (-2,-6) while blue point represents (-2,-2). count the numbers upward and it'll be 4 units. Best thing to do in this problem is to plot the given points and go from there.
A.) The current reserve ratio is given by the fraction of the bank's total deposits held in reserves.
Given that the bank's total deposits is $7,200 and the reserves is $1,600, the current reserve ratio is given by:

b.) The loan portfolio is given by (total deposit - reserves) / total deposits
Thus, the loan portfolio of the given bank is given by:
Answer:
14
Step-by-step explanation: hope this helps :)
Answer:

Step-by-step explanation:
k is a positive integer.
Consider an arithmetic sequence:

First, find n:

Now, find the sum of these 2k+1 terms:
