So u turn the percent into a decimal.
0.10
Now multiply 1200 * 0.10
1200*0.10= 120 ( 120 is the amount that is gonna increase)
So if it says 5 years, than your gonna multiply 120 * 5
120*5 =600
So your gonna add 600 to 1200.
So in five years your gonna be making 1,800.
An easier way would be to use prt
Principle * rate * time
1200 * 0.10* 5
= 600
So now you just add 600 to 1200
= 1800
When calculating the loan's effective rate, the most accurate statement is that the effective rate will exceed the nominal rate.
<h3>Effective Annual Rate:</h3>
The interest rate for the entire year is known as the effective annual rate (EAR). Interest charges are incurred when a company uses debt or capital leases to fund its operations.
Interest is reported on the income statement, but it can also be generated on an investment or paid on a loan over time due to compounding interest.
It is frequently larger than the marginal rate and is used to compare various financial products with different compounding periods, such as weekly, monthly, and yearly.
The effective yearly interest rate rises over time as the number of compounding periods increases.
Therefore, the correct option is A.
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brainly.com/question/2405320
Answer:
56,149 would be left over
Step-by-step explanation:
56,941-792=56,149
Step-by-step explanation: do fast
when you will upload the picture do fast
Answer:
x= -2
Step-by-step explanation:
6x+8=x-2
6x-x= -2-8
5x= -10
x= -10/5
x= -2