5/9 is 11% of what number? write the proportion
2 answers:
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Here is your question: 7/6 divided by 2.
÷
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Multiply and you get
Multiply and you get
By Evaluating the Compound Interest, we come to know that Rajesh will have enough money in the account to cover all of the required loan payments.
The Principal Amount(P) = $30,000
Rate of Interest (r) = 2.16 %
Time(t) = 10 years
Number of Times it is Compounded in a year(n) = 12
Now, we have
Putting all the values, we evaluate the amount,
Hence, the Amount after Compound Interest = $37,225.87
Now, The loan amount that he pays = 300 *12*10 = $ 36,000
Yes, he will have enough money in the account to cover all of the required loan payments.
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