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:
D, 5
Step-by-step explanation:
<span>4x + 3y = 16
7x + 6y = 31
Note what happens if we mult. the first eqn. by -2:
-8x - 6y = -32
Combining this with the 2nd equation eliminates the variable y:
</span>-8x - 6y = -32<span>
7x + 6y = 31
--------------------
-x = -1, or x = 1. Sub 1 for x in either of the 2 given eqns to find y:
For example: 4(1) + 3y = 16, so 36 = 12, and y = 3. Sol'n is (1,3).</span>