Assuming the loan is as described, seven-year loan, which means that Kyle does not repay a cent before seven years.
This is a compound interest problem where n=7 years, interest rate i=0.05, and present value P=8000.
At the end of seven years, Kyle will have to pay
Future value = F = P(1+i)^n = 8000(1.05)^7 = 11256.80 (to the nearest cent)
If Mia sold 2 more hats on each suceeding day, after working 40 days it is expected Mia had sold a total of 1523 hats.
<h3>How many hats will Mia sell everyday?</h3>
Day: Hats
- 1 = 1
- 2=3
- 3 = 5
- 4=7
- 5= 9
- 6=11
- 7= 13
- 8= 15
- 9=17
- 10=19
- 11= 21
- 12=23
- 13= 25
- among others
You can notice the number of hats she will sell follow a pattern as there are only sequential odd numbers.
<h3>How many hats will Mia sell in total?</h3>
By following the sequence let's add the hats she will sell everyday:
- 1 + 3 + 5 + 7 + 9 + 11 + 13 + 15 + 17 + 19 + 21 + 23 + 25 + 27 + 29 + 31 + 33 + 35 + 37 + 39 + 41 + 43 + 45 + 47 + 49 + 51 + 53 + 55 + 57 + 59 + 61 + 63 + 65 + 67 + 69 + 71 + 73 + 75 + 79 = 1523
Learn more about sums in: brainly.com/question/13013054
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