First, determine the effective interests given both interest rates.
(1) ieff = (1 + 0.068/12)^12 - 1 = 0.07016
(2) ieff = (1 + 0.078/12)^12 - 1 = 0.08085
Calculating the interests will entail us to use the equation,
I = P ((1 + i)^n - 1)
Substituting the known values,
(1) I = ($5125)((1 + 0.07016)^1/2 - 1)
I = $176.737
(2) I = ($5125)(1 + 0.08085)^1/2 - 1)
I = $203.15
a. Hence, the greater interest will be that of the second loan.
b. The difference between the interests,
d = $203.15 - $176.737
$26.413
Answer:
there are 6.45 or 6.5 square cm in one square inch
Step-by-step explanation:
Answer:
b
Step-by-step explanation:
just took test
Answer:
137.5 Miles
Step-by-step explanation:
2 = 50 Right? So if you were to divide 50 by 2, you would get 1 = 25. All you would have to do from there would be to multiply 25 times 5.5 to get 137.5.