If -2y = x and 3x + 2y = -4, then what is xy?
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We have been given that Anil borrows $80 000 to buy a business. The bank gives him a loan, with an interest rate of 2% each year. We are asked to find the total amount paid back by Anil to bank after 10 years.
We will use simple interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
t = Time in years.
Let us convert 2% into decimal.
We have and
, so we will get:
Therefore, Anil will pay to the bank after 10 years.
Answer:
<h2>£1,330.46</h2>Step-by-step explanation:
Using the compound interest formula
A = amount compounded after n years
P = principal (amount invested)
r = rate (in %)
t = time (in years)
n = time used to compound the money
Given P = £1200., r = 3.5%, t = 3years, n = 1 year(compounded annually)
Value of Charlie's investment after 3 years is £1,330.46