The amount of repayment AT THE END of the first year does not reduce the interest on the loan for the first year.
The interest of 6% per annum compounded monthly
= 12500*[(1+(0.06/12))^12-1]
= 770.97 (to the nearest cent)
Answer:
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Step-by-step explanation:
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Answer:
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Step-by-step explanation:
Answer:
Find the LCD of the first two, then the LCD of that and the third one.
Step-by-step explanation:
You can do it by finding the LCD of two of the denominators, then the LCD of that and the third denominator.
Or, you can factor each of the denominators and find their LCM by multiplying the unique factors to their highest powers.
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<u>Example:</u>
1/21 + 1/35 + 1/45
The LCD of 1/21 and 1/35 is (21·35)/5 = 105. The LCD of 1/105 and 1/45 is ...
(105·45)/15 = 315
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Using factoring ...
- 21 = 3·7
- 35 = 5·7
- 45 = 3²·5
LCD = 3²·5·7 = 315
