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Triss [41]
3 years ago
13

A company offering short term loans agrees to lend Nick $1,200 . The amount (plus interest) is repayable in one year, and the in

terest rate is 12% per month. What is the total amount that must be repaid? Give your answer in dollars to the nearest dollar. Do not include commas or the dollar sign in your answer. For example if your answer is $1,234.56 enter 1235 .
Mathematics
1 answer:
Y_Kistochka [10]3 years ago
3 0

Answer:

The total amount is 1214.4

Step-by-step explanation:

Given

principal p=$1200

interest rate r= 12%= 12/100= 0.12

time t= 1

n= 12

we know that the compound interest formula is

A=p(1+r/n )^nt

A=1200(1+0.12/12)^1*12

A=1200(1+0.01)^12

A=1200(1.001)^12

A=1200*1.012

A=1214.

You might be interested in
Cheryl solved a problem: 84 ÷ 0.01 = 8,400.
Alexandra [31]

Answer:

Cheryl is correct.

Step-by-step explanation:

Cheryl solved a problem : 84 ÷ 0.01 = 8,400.

This is absolutely right.

When we divide any whole number with the divisor having decimal, we change the divisor to a whole number before performing the division.

To do this, we multiply both the numbers (divisor and dividend) by the same power of 10, until the divisor is a whole number.

\frac{84\times 10}{0.01\times 10} = \frac{840}{0.1}

to make divisor a whole number we will again multiply both the numbers by 10.

\frac{840\times 10}{0.1\times 10} = \frac{8400}{1} = 8,400

Now answer would be 8400.

Therefore, Cheryl is correct.

7 0
3 years ago
Which equation can be used to solve for x in the following diagram.
Romashka [77]

Answer:

11, A

Step-by-step explanation:

90 - 35 = 55

55/5 = 11

6 0
3 years ago
Read 2 more answers
Janet has three times as many dimes as nickels and twice as many quarters as nickels. If she has $5.10 in all, how many nickels,
Mama L [17]
If number of nickel = n
number of dimes = 3n
number of quarters = 2n

Amount of nickel = 5n
Amount of dimes = 30n
Amount of quaters = 50n

Total Amount = <span>5n + 30n + 50n = 510

In short, Your Answer would be Option C

Hope this helps!</span>
6 0
4 years ago
Write the sentence as an algebraic equation. The sum of 5 and a number equals 14.
11Alexandr11 [23.1K]

5 + x = 14 is the answer                

7 0
3 years ago
Select the statement that correctly describes the expression below
Kitty [74]

Answer:

B

Step-by-step explanation:

The equation is (2x+5)^2.

It can't be A because 2 is the multiplier for only x.

It can't be C because the square is outside of the equation.

It can't be D because again, the square is outside of the equation.

So the only thing left is B.

Hope this helped!


7 0
4 years ago
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