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DochEvi [55]
2 years ago
13

Calculate the simple interest on a loan of $3500 for a period of 6 months at a yearly rate of 5%. (10 POINTS!!)​

Mathematics
1 answer:
ser-zykov [4K]2 years ago
5 0

Answer:

$3,799.20

Step-by-step explanation:

We presume your formula is intended to be ...

M = Pm(1 + m)^(na)/((1 + m)^(na) - 1)

where M is the monthly payment, m is the monthly interest rate, n is 12, and a is the number of years.

This formula gives written below:

M = 3500·(.08/12)·(1 + (.08/12))^(12·2)/((1 + (.08/12))^(12·2) -1) ≈ 158.30

The total payback will be the sum of 24 of these payments is written below;

payback = 24×$158.30 = $3,799.20

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The original quantity is 20 and the new quantity is 15. Adam incorrectly says the percent decrease is about ​14.29%. What is the
Yuki888 [10]

Answer: A. divided the difference of the two quantities by the sum of the two quantities.

===================================================

Explanation:

The difference of the quantities is 20-15 = 5

The sum of the quantities is 20+15 = 35

Dividing those results leads to 5/35 = 0.142857 which rounds to 0.1429

That converts to 14.29%

This is likely the path Adam took. This path is incorrect. The correct steps are shown below

---------------------

Difference = 20-15 = 5

Divide the difference over the original quantity

5/20 = 1/4 = 0.25 = 25%

We have a 25% decrease because the new quantity (15) is smaller than the old quantity (20)

----------------------

Here's another way to approach the problem

A = old value = 20

B = new value = 15

C = percent change

C = [ (B-A)/A ] * 100%

C = [ (15-20)/20 ] * 100%

C = (-5/20)*100%

C = -0.25*100%

C = -25%

The negative C value means we have a negative percent change, ie we have a percent decrease. So this is another way to get a 25% decrease.

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Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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