Answer:
subtract
a) 13/20
b) 1/2
c) 5/24
d) 7/18
e) 7/20
f) 3/40
Add or subtract
a) 4/9
b) 1/2
c) 11/20
d) 1/4
e) 19/12 <u>or </u>1
f) 4/21
Talib is trying to find the inverse of the function to the right. His work appears beneath it. Is his work correct? Explain your
1 answer:
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Answer:
The student will have to reimburse 2,991.03 two years later.
Step-by-step explanation:
This is a compound interest problem:
The compound interest formula is given by:
In which A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.
In this problem, we have that:
A is the amount the student will have to reimburse two years later.
P is his loan. so
The bank loans this money at a rate of 9 % capitalized monthly. This means that and
, since the money is compounded monthly, this means, 12 times in a year.
He will have to reimburse two years later, so
The student will have to reimburse 2,991.03 two years later.