1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stiv31 [10]
2 years ago
10

Jay decides to take out a $12,000 student loan during his first year in college. If he is charged 4.5% interest that is compound

ed annually, how much will the total loan amount equal in four years when he graduates?
Mathematics
2 answers:
VashaNatasha [74]2 years ago
8 0

The total loan amount would be equal to $14,310 in four years when Jay graduates.

<u>Given the following data:</u>

  • Principal = $12,000
  • Interest rate = 4.5%
  • Time = 4 years

To determine how much (future value) the total loan amount would equal in four years when he graduates:

Mathematically, compound interest is given by the formula:

A = P(1 + r)^{t}

<u>Where;</u>

  • A is the future value.
  • P is the principal or amount borrowed.
  • r is annual interest rate.
  • t is the number of years for the compound interest.

Substituting the given parameters into the formula, we have;

A = 12000(1 + 0.045)^{4}\\\\A=12000(1.045)^{4}\\\\A=12000(1.1925)

Future value, A = $14,310

Read more: brainly.com/question/16992474

Ivanshal [37]2 years ago
4 0

Answer:

2,160.00

Step-by-step explanation:

okay so first we have to find 4.5% of 12,000

which is 540, then multiply 540 by the four years and

540 x 4 = 2,160.00

You might be interested in
Question part
Ne4ueva [31]

If the northern side has length x and the east and west sides have length y, then the cost of the fence is 
<span>C = 12x + 12y + 6y </span>
<span>and the enclosed area is A = xy. </span>

<span>12x + 18y = 6000 </span>
<span>x = 500 - 1.5y </span>
<span>A = 500y - 1.5y^2 </span>

<span>A is maximized when y = 500/3. In which case x = 250. </span>
5 0
3 years ago
Please help me..!!!!!
schepotkina [342]

Answer:

x + 7

Step-by-step explanation:

1+7=8

2+7+9

so on

4 0
3 years ago
What is 65% of 47? Please help me fast.
liubo4ka [24]
'of' in math implies that the values are being multiplied together, so multiply 47 and 65%;
47 * 65% = 47 * .65 = 30.55 
6 0
3 years ago
Is it one of this <br> 60<br> 50<br> 45<br> 35
dangina [55]
Non of the above. The answer is 40 and I’m sticking to my guns !

Similar meaning you can assume they are proportionate and if every side is doubled then you should double the last. Another way is to use Pythagorean’s theorem and disregard the little triangle completely.


Both ways have me 40 !
7 0
4 years ago
e media center at josh school has a computer area. the first four rows have have six computers. the fifth row has four computers
pishuonlain [190]
4 x 6 is 24

24 + 4 is 28


5 0
3 years ago
Other questions:
  • What’s the answer for x thanks
    7·1 answer
  • (I'LL GIVE BRAINLIEST)
    14·1 answer
  • What two numbers multiply to 882 and add up to -67
    12·1 answer
  • Please help or ill die i dont have much time
    5·1 answer
  • What is the height of the pole?<br> please help asap
    11·2 answers
  • suppose f(x)=33.3+1.4 log (x+1) models salinity of ocean water to depths of 1000 meters at a certain latitude. x is the depth in
    5·1 answer
  • PLEASE HELP! I HAVE LIMITED TIME, WILL MARK BRAINLIEST!
    8·2 answers
  • Two rectangular pyramids are similar. The smaller pyramid has a volume of 12 cubic feet, and
    7·1 answer
  • 12a+9b=k (2a+3/2b)
    13·2 answers
  • Line c has an equation of y = ** + 8. Parallel to line c is line d, which passes through the
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!