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Vladimir [108]
3 years ago
14

PLEASE HELP ME IS DUE TMR

Mathematics
1 answer:
IrinaVladis [17]3 years ago
6 0

Answer:

p = 8000 + 2(6000)

20000

Step-by-step explanation:

Given that:

Profit in 1988 = 6000

Profit in 2003 = 8000 more Than double the profit made in 1998

Hence profit in 2003 (p) can be expressed as :

p = 8000 + 2(6000)

Hence profit in 2003

p = 8000 + 12000

p = 20,000

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Niki makes the same payment every two months to pay off his $61,600 loan. The loan has an interest rate of 9.84%, compounded eve
Alenkasestr [34]
The question is an annuity question with the present value of the annuity given.
The present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt) / (r/t) where PV = $61,600; r = interest rate = 9.84% = 0.0984; t = number of payments in a year = 6; n = number of years = 11 years and P is the periodic payment.
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The total payment made by Niki = 11 x 6 x 1,534.78 = $101,295.48
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Step-by-step explanation:

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