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3 years ago

9

Marco decides to take out a $4,000 student loan during his first year in college. If he is charged 10% interest that is compound

ed annually, how much will the total loan amount equal in four years when he graduates?

2 answers:

Ivan3 years ago

7 0

Answer: $5856.40

100+10 = 110

110/100=1.1

4000 X 1.1^4 = 5856.4

$5856.40

Step-by-step explanation:

110/100=1.1

4000 X 1.1^4 = 5856.4

Answer: $5856.40

Natali5045456 [20]3 years ago

5 0

Answer:

100+10 = 110

110/100=1.1

4000 X 1.1^4 = 5856.4

$5856.40

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Diego deposited \$ 10,000$10,000 for 44 years at a rate of 6\%6% simple interest. Find the amount of interest Diego earned afte

timama [110]

Answer:

$2,400

Step-by-step explanation:

Note: The correct years is 4 not 44

The Principal = $10,000

Time period = 4 years

Rate = 6 % p.a.

Simple Interest = Principal * Rate * Time

Simple Interest = $10,000 * 6% * 44

Simple Interest = $2,400

So, the amount of interest Diego earned after four years is $2,400

8 0

3 years ago

City A had a population of 10000 in the year 1990. City A’s population grows at a constant rate of 3% per year. City B has a pop

Georgia [21]

Answer:

City A and city B will have equal population 25years after 1990

Step-by-step explanation:

Given

Let

$t \to$ years after 1990

$A_t \to$ population function of city A

$B_t \to$ population function of city B

<u>City A</u>

$A_0 = 10000$ ---- initial population (1990)

$r_A =3\%$ --- rate

<u>City B</u>

$B_{10} = \frac{1}{2} * A_{10}$ ----- t = 10 in 2000

$A_{20} = B_{20} * (1 + 20\%)$ ---- t = 20 in 2010

Required

When they will have the same population

Both functions follow exponential function.

So, we have:

$A_t = A_0 * (1 + r_A)^t$

$B_t = B_0 * (1 + r_B)^t$

Calculate the population of city A in 2000 (t = 10)

$A_t = A_0 * (1 + r_A)^t$

$A_{10} = 10000 * (1 + 3\%)^{10}$

$A_{10} = 10000 * (1 + 0.03)^{10}$

$A_{10} = 10000 * (1.03)^{10}$

$A_{10} = 13439.16$

Calculate the population of city A in 2010 (t = 20)

$A_t = A_0 * (1 + r_A)^t$

$A_{20} = 10000 * (1 + 3\%)^{20}$

$A_{20} = 10000 * (1 + 0.03)^{20}$

$A_{20} = 10000 * (1.03)^{20}$

$A_{20} = 18061.11$

From the question, we have:

$B_{10} = \frac{1}{2} * A_{10}$ and $A_{20} = B_{20} * (1 + 20\%)$

$B_{10} = \frac{1}{2} * A_{10}$

$B_{10} = \frac{1}{2} * 13439.16$

$B_{10} = 6719.58$

$A_{20} = B_{20} * (1 + 20\%)$

$18061.11 = B_{20} * (1 + 20\%)$

$18061.11 = B_{20} * (1 + 0.20)$

$18061.11 = B_{20} * (1.20)$

Solve for B20

$B_{20} = \frac{18061.11}{1.20}$

$B_{20} = 15050.93$

$B_{10} = 6719.58$ and $B_{20} = 15050.93$ can be used to determine the function of city B

$B_t = B_0 * (1 + r_B)^t$

For: $B_{10} = 6719.58$

We have:

$B_{10} = B_0 * (1 + r_B)^{10}$

$B_0 * (1 + r_B)^{10} = 6719.58$

For: $B_{20} = 15050.93$

We have:

$B_{20} = B_0 * (1 + r_B)^{20}$

$B_0 * (1 + r_B)^{20} = 15050.93$

Divide $B_0 * (1 + r_B)^{20} = 15050.93$ by $B_0 * (1 + r_B)^{10} = 6719.58$

$\frac{B_0 * (1 + r_B)^{20}}{B_0 * (1 + r_B)^{10}} = \frac{15050.93}{6719.58}$

$\frac{(1 + r_B)^{20}}{(1 + r_B)^{10}} = 2.2399$

Apply law of indices

$(1 + r_B)^{20-10} = 2.2399$

$(1 + r_B)^{10} = 2.2399$ --- (1)

Take 10th root of both sides

$1 + r_B = \sqrt[10]{2.2399}$

$1 + r_B = 1.08$

Subtract 1 from both sides

$r_B = 0.08$

To calculate $B_0$ , we have:

$B_0 * (1 + r_B)^{10} = 6719.58$

Recall that: $(1 + r_B)^{10} = 2.2399$

So:

$B_0 * 2.2399 = 6719.58$

$B_0 = \frac{6719.58}{2.2399}$

$B_0 = 3000$

Hence:

$B_t = B_0 * (1 + r_B)^t$

$B_t = 3000 * (1 + 0.08)^t$

$B_t = 3000 * (1.08)^t$

The question requires that we solve for t when:

$A_t = B_t$

Where:

$A_t = A_0 * (1 + r_A)^t$

$A_t = 10000 * (1 + 3\%)^t$

$A_t = 10000 * (1 + 0.03)^t$

$A_t = 10000 * (1.03)^t$

and

$B_t = 3000 * (1.08)^t$

$A_t = B_t$ becomes

$10000 * (1.03)^t = 3000 * (1.08)^t$

Divide both sides by 10000

$(1.03)^t = 0.3 * (1.08)^t$

Divide both sides by $(1.08)^t$

$(\frac{1.03}{1.08})^t = 0.3$

$(0.9537)^t = 0.3$

Take natural logarithm of both sides

$\ln(0.9537)^t = \ln(0.3)$

Rewrite as:

$t\cdot\ln(0.9537) = \ln(0.3)$

Solve for t

$t = \frac{\ln(0.3)}{ln(0.9537)}$

$t = 25.397$

Approximate

$t = 25$

7 0

3 years ago

What do you multiply to get 8 and add to get 4

nasty-shy [4]

Hi Mitchell

-1*8+12

(-1*8)+12

-8+12=4

I hope that's help :0

3 0

3 years ago

Trey found three pieces of wire in his tool drawer. Here are their lengths (in centimeters). 9 , 5.59 , 16.8 What is the total l

lara [203]

To find the total length we justadd the llength of the vBulletin peices together 9 +5.59 + 16 . 8 = 31.39 The total length is 31.39

8 0

3 years ago

What is the measure of angle x? m<x = ?

Ainat [17]

Hey there! :)

The total measure for triangles is 180°

You already know 2 angles. Add both angles and subtract from 180 to find x

37 + 82 = 119

180 - 119 = 61

m∠x = 61°

Hope this helps :)

3 0

3 years ago