Answer:
$144.70
Step-by-step explanation:
Calculation to determine how much greater will the amount of interest capitalized be than the minimum amount that she could pay to prevent interest capitalization
First step is to determine the Interest only monthly repayments
Using this formula
I=Prt
where,
P=$6925
r=0.05/1
t=1
Let plug in the formula
I=6925*0.05/12
I= $28.854166666
Second step is to determine the amount she will owe after 4 years
Using this formula
S=P(1+r)n
Let plug in the formula
S=6925*(1+0.05/12)4*12
S=6925*(1+0.05/12)48
S=$8454.70
Third step is to determine the Interest part
Interest =8454.70 - 6925
Interest = $1529.70
Now let determine the how much greater will the amount of interest capitalized be
Interest capitalized=1529.70 - 1385.00
Interest capitalized =$144.70
Therefore how much greater will the amount of interest capitalized be than the minimum amount that she could pay to prevent interest capitalization is $144.70
The answer is 523.6 and all you have to do is round it to the nearest hundredth
Answer:
2/3, 1,2,4
Step-by-step explanation:
Answer:
$10294.20
Step-by-step explanation:
8550 increase 20.4% =
8550 × (1 + 20.4%) = 8550 × (1 + 0.204) = 10294.2
