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BaLLatris [955]
2 years ago
7

30 points. Please help!!

Mathematics
2 answers:
Tju [1.3M]2 years ago
8 0
It would be D I think I’m not to sure though
yarga [219]2 years ago
4 0

Answer:

c

Step-by-step explanation:

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6 0
3 years ago
Read 2 more answers
Suzanne is looking at taking out a personal loan. Opportunity Loans is offering her $1600 at 3.45% for 1 year, with interest com
AleksAgata [21]

Step-by-step explanation:

So the general formula for compound interest is A = P(1+\frac{r}{n})^{nt} where r is the interest rate, t is the time in years, and n is the amount of compounds per year. So plugging in the values for both equations you'll get

Opportunity Loans:

 A = 1600(1+\frac{0.0345}{12})^{(12)(1)}

 A = 1600(1.002875)^{12}

 A \approx 1600(1.035)

 A = \$1,656.08

  Now to find the interest accrued on this loan you simply subtract 1600 from the A or final amount

 Interest=1656.08-1600\\Interest=56.08

General Loans:

 A = 1600(1+\frac{0.042}{4})^{(4)(1)}

 A = 1600(1.0105)^4

 A \approx 1600(1.042)

 A = 1,668.27

 To find the interest we do the same thing we did in the previous problem

 interest = 1668.27-1600\\interest=68.27

Opportunity loans has the least amount of interest after a year

 

 

8 0
2 years ago
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