The interest is a) $7000
b) $17709.73
c) $18672.62
d) $18901.67
What is the formula for simple and compound interest?
Simple interest = (P× r× t)
Compound interest = P(1+r/n)^nt - P
We will find the interest as shown below:
P=$4,000
t=25 years
a) r=7%=0.07
Simple interest = (P× r× t)
= (4000×0.07×25)
= $7000
b) r=7%=0.07
Compound interest = P(1+r)^t - P
= 4000(1+0.07)^25-4000
= $17709.73056
rounding to nearest cents
= $17709.73
c) r=7%=0.07
n=4
Compound interest = P(1+r/n)^nt - P
= 4000(1+0.07/4)^(25*4)-4000
= $18672.62375
rounding to nearest cent
= $18672.62
d) r=7%=0.07
n=12
Compound interest = P(1+r/n)^nt - P
= 4000(1+0.07/12)^(25*12)-4000
= $18901.6728
rounding to nearest cent
= $18901.67
Hence, the interest is a) $7000
b) $17709.73
c) $18672.62
d) $18901.67
Learn more about Interest here:
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Answer:
B $444.44
Step-by-step explanation:
if you pay $444.44 for 18 months (no interest) you will have $7,999.92 just round that and you have $8,000
The answer is D. 10. Let me know if you want me to show my work
Answer:
Step-by-step explanation:
(5x^3+4x^2)−(6x^2−2x−9)
To find the opposite of 6x^2−2x−9 find the opposite of each term.
5x^3+4x^2−6x^2+2x+9
Combine 4x^2 and 6x^2 to get −2x^2.
5x^3-2x^2+2x+9
Answer: 8.2
Step-by-step explanation:
Delta Math Solution
