Answer:
1. Melissa wants to check the accuracy of the finance charge on her promissory note. She has a $6,000, 4-year loan at an APR of 3.11%.
What is her monthly payment?
$133.10
Answer:
A
Step-by-step explanation:
I am to determine the future value of Thomas' deposit with annual compounding
The formula for calculating future value:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
840 x (1.075)^5 = 1205.93
I am to determine the future value of Sherill's deposit in 5 years using simple interest
The amount that would be in the account = amount deposited + interest earned on deposit
interest earned on deposit can be determined by determining the simple interest
Simple interest = amount deposited x time x interest rate
1250 x 0.069 x 5 = 431.25
Amount that would be in her account after 5 years = 1250 + 431.25 = 1681.25
Sheril's money is higher by - 1681.25 - 1205.93 = 475.32
B hope that helps have good one
Answer:
$106.08
Step-by-step explanation:
Given:
6x $5.00
5x $2.00
12x $1.00
9x= 0.50
6x25 cent
42x10 cent
10x5 cent
15=15cent
$97.23
----------------------------------------------------------------------------------
6 five dollar bill is $30.00
so 5 two dollar bill is $10.00
12 one dollar bills is $12.00
9 half dollar bill mean 0.50 cent since it Half and that would make $4.50
6 quarter so 6x25 which equal $1.50
42 dimes and dimes =10 cent so 42x10 which equal $4.20
10 nickels and nickels = 5 cent so 10x5=0.50
15=15 pennies
-------------------------------------------------------------------------------------
30.00+10.00+12.00+4.50+1.50+4.20+0.50+0.15+97.23 =
$106.08 Total Deposit
