Answer:
steps attached below
Step-by-step explanation:
A₁ = 3
a₂ = 4.2
d = a₂ - a₁
= 4.2 - 3
= 1.2
a₉₈ = a₁ + d(n-1)
= 3 + 1.2(98-1)
= 3 + 1.2×97
= 3 + 116.4
= 119.4
Answer:
46 and 36
Step-by-step explanation:
not much to be said here chief
Answer:
- Interests charged for 4 years: $80
- Total amount to pay back:$480
Step-by-step explanation:
- To know the future value of an specific amount that is borrowed from a bank we use the following equation:
, where FV is future value, PV present value, n the amount of periods and i the interest rate. - In this particular case, the present value of the loan is $400, n=4 (4 years), i=5%. Then the future value equals:
. Then FV= $480, which is the total amount of money she would have to return in 4 years. - The interest paid can be calculated as the total amount paid ($480) minus the inicial loan ($400), which means that total interests paid= FV- PV= $80.