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GaryK [48]
2 years ago
13

PLEASE HELP!! WILL GIVE BRAINLY!

Mathematics
1 answer:
irina1246 [14]2 years ago
7 0

Answer:

Step 1: 10 group(s) of 23=230

Step 2: 6 group(s) of 23=138

Step 3: Add the partial quotients: 10 + 6 = 16

Step-by-step explanation:

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Step-by-step explanation:

Giving the following information:

Present value (PV)= $8,500

Ineterest (i)= 0.025/12= 0.00208

Number of periods (n)= 360 months

<u>We will calculate the future value of each option and determine the difference:</u>

<u>Simple interest:</u>

FV= (PV*i*n) + PV

FV= (8,500*0.00208*360) + 8,500

FV= $14,864.8

<u>Compounded interest:</u>

FV= PV*(1+i)^n

FV= 8,500*(1.00208^360)

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