hi
monthly interest rate is : ![\sqrt[12]{1.05}](https://tex.z-dn.net/?f=%5Csqrt%5B12%5D%7B1.05%7D)
So in forty month there will be : 10 000 * ( )^40 ≈11 776,06
This I my explanation for this question if it is helpful your welcome
Answer:
12
Step-by-step explanation:
if each bar is cut into 3 pieces, then we multiply 4 by 3 to get 12.
Ist amount paid = $1500
Making $350 for 10 months = 10*350 = $3500
Total amount paid = 1500 + 3500 = 5000
So an amount of $5000 was paid to cover the cost of $4500 within the ten month period.
I = PRT
Interest, I = 5000 - 4500 = 500Time, t = 10 months = 10/12 = (5/6) year.Principal P = 4500
R = I /(PT) R = 500 / (4500*5/6)
R = (500*6) / (4500*5)
R = 0.1333..
R ≈ 13.33 % per annum.
I would say that B) is the correct answer hope this helps!!
