Answer:
15000(1.003425)^12t ;
4.11%
4.188%
Step-by-step explanation:
Given that:
Loan amount = principal = $15000
Interest rate, r = 4.11% = 0.0411
n = number of times compounded per period, monthly = 12 (number of months in a year)
Total amount, F owed, after t years in college ;
F(t) = P(1 + r/n)^nt
F(t) = 15000(1 + 0.0411/12)^12t
F(t) = 15000(1.003425)^12t
2.) The annual percentage rate is the interest rate without compounding = 4.11%
3.)
The APY
APY = (1 + APR/n)^n - 1
APY = (1 + 0.0411/12)^12 - 1
APY = (1.003425)^12 - 1
APY = 1.04188 - 1
APY = 0.04188
APY = 0.04188 * 100% = 4.188%
Answer:
No
Step-by-step explanation:
Because you have to multiply 568 x 8 to get 4084 but when u multiply it u get 2272
Number 1 is correct
Number 2: you just have to divide like in number one
Number 3: add 9.72 plus 5.40 and divide by 2
