9514 1404 393
Answer:
A) $1350
B) $5850
C) $162.50
Step-by-step explanation:
A) The interest is given by the formula ...
I = Prt
where P is the principal amount, r is the interest rate, and t is the number of years.
I = $4500×0.10×3 = $1350
The interest owed is $1350.
__
B) At maturity, the principal and interest are due. That amount is ...
$4500 +1350 = $5850
The maturity value is $5850.
__
C) If the maturity value is paid in 36 equal monthly installments, each is ...
$5850/36 = $162.50
The monthly payment is $162.50.
Answer:
t = (D/C - 1) (100/r)
Step-by-step explanation:
D = C(1+rt/100)
D/C = 1 + rt/100
D/C - 1 = rt/100
D/C - 1 = t (r/100)
Therfore,
<h2>t = (D/C - 1) / r/100</h2>
Therefore the last option is correct.
<h2><em><u>
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(1,35)(2,60)(3,92)(4,120)(5,175)
