A loan of $50,000 is taken out for six years at 9% interest compounded annually. If the loan is paid off in full at the end of that time period, $50433 must be returned.
<h3>What is Compound interest?</h3>
- Compound interest is calculated by multiplying the initial loan amount, or principal, by one plus the annual interest rate multiplied by the number of compound periods multiplied by one.
- Compound interest is when you earn interest on both your savings and your interest earnings. When you compound interest, you add the interest you've earned back into your principal balance, which earns you even more interest, compounding your returns.
- Assume you have $1,000 in a savings account earning 5% interest per year. You'd earn $50 in year one, giving you a new balance of $1,050. Compound interest occurs when interest earned on savings begins to earn interest on itself.
To learn more about Compound interest, refer to:
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Answer:
E. the product of seven and the difference of b minus two
Step-by-step explanation:
7(b-2)
seven is being multiplied by the difference of b minus 2
So this can be written as the product of seven and the difference of b minus two.
Reasons its not the other answer choices
A. two subtracted from the quotient of seven divided by b would be (7/b) - 2
B. seven added to difference of b minus two would be 7 + (b-2)
C. the quotient of seven divided by b minus two would be 7/(b-2)
D. two subtracted from seven times b would be 7b - 2
Key Vocabulary:
<em>Difference = Subtraction</em>
<em>Product = Multiplication</em>
<em>Quotient = Division </em>
<em></em>
Well, all we have to do is add, so:
6 + (-47) =
6 - 47 =
-41
