Answer:
t = 6 years
Step-by-step explanation:
Use the simple interest formula: i = prt, where p is the principal, r is the interest rate as a decimal fraction, and is the elapsed time, in years.
Here we want to know how long it will take for the interest alone to reach $449.40. We first solve i = prt for t, obtaining t = i/(pr).
Here, the length of time is t = ($449.40) / (0.06*$1498.00). This works out to
t = 5.9947, or approximately 6 years.
t = 6 years
The answer is D
i plugged in all the equations and the equation for D is the one that works
Answer:
Year 29 $2,956.63 Total Interest $40,643.25 Balance $48,443.25
Step-by-step explanation:
Base amount: $7,800.00
Interest Rate: 6.5% (yearly)
Effective Annual Rate: 6.5%
Calculation period: 29 years
The difference is that a graph is multiple of them and a table is in sections in points it’s like jotting them down and equations is step-by-step
Hope the help:)
