By Evaluating the Compound Interest, we come to know that Rajesh will have enough money in the account to cover all of the required loan payments.

The Principal Amount(P) = $30,000

Rate of Interest (r) = 2.16 %

Time(t) = 10 years

Number of Times it is Compounded in a year(n) = 12

Now, we have

$A =P(1+\frac{r}{100n}) ^{nt}$

Putting all the values, we evaluate the amount,

$A =30,000(1+\frac{2.16}{100*12}) ^{12*10}\\\\A = 30,000 * 1.240\\A = 37,225.84$

Hence, the Amount after Compound Interest = $37,225.87

Now, The loan amount that he pays = 300 *12*10 = $ 36,000

Yes, he will have enough money in the account to cover all of the required loan payments.

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5 0

1 year ago

P − 6 = −5 pls help meeee

ExtremeBDS [4]

Answer:

p−6=−5

Add 6 to both sides.

p−6+6=−5+6

p=1

I hope it helps.

5 0

3 years ago

What will happen to the mean if the outlier gets removed

sveticcg [70]

I think it will decrease

4 0

3 years ago