Answer: The amount of interest to be paid is $972
Explanation: This is gotten by firstly getting the amount of money to return per year without the interest which is $114400/10(years)= 11440
11440 is to be paid per year without interest. To get amount of interest is $11440*8.5/100 = $972 this is the amount of interest to be paid per year including in year 2.
Therefore, total amount of money together with interest to be paid each year and in year 2 = $11440+$972=12412.
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Answer:
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Answer:
Explanation:
In order to obtain the decimal number we have to use the next formula:
(The position to the right of the decimal point we will take it as negative)
Using the formula we have:
