The new loan amount is $113,797
What is compound interest?
Compound interest is the interest imposed on a loan or deposit amount. It is the most commonly used concept in our daily existence. The compound interest for an amount depends on both Principal and interest gained over periods. This is the main difference between compound and simple interest.
We can find new loan amount as shown below:
Total amount of loan=4*6,970+4*11,320
=27,880+45,280
=$73,160
Now, we will find new loan amount using compound interest formula.
Amount=
P=$73,160
n=12
t=1 year
r=4.5%=0.045
Putting in formula
Amount
=$113,797.039
Rounding to nearest dollar
=$ 113,797
Hence, new loan amount after one-year grace period is $113.797.
Learn more about Compound Interest here:
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Answer:
9weeks 2days = (9 × 7) + 2 = 63 +2=65 days
Step-by-step explanation:
the answer for this question is this system has no solution
Answer: -14, -9, -8, -6, 10, 12, 13
Step-by-step explanation: Think of all the numbers money. The negative ones mean that you owe people money so the bigger the negative number is the more you owe people which is the less money you have.
Answer:
the height is 18cm
Explanation:
If two objects have the same shape, they are called "similar." When two figures are similar, the ratios of the lengths of their corresponding sides are equal. To determine if the triangles shown are similar, compare their corresponding sides. Are these ratios equal?
given that
Triangle 1 (first triangle)
base = 10cm
height = 15cm
Triangle 2 (second triangle)
base = 12cm
height = unknown
base 1 / base 2 = height 1 / height 2
10cm / 12cm = 15cm / xcm
xcm = 18cm
height = 18cm
