(10(1-(1/2)^5)/1-(1/2) =
20(1-1/32)
=155/8
The borrower owes $14,760.82 at the end of 8 years
What is compounding interest?
Compounding interest means that earlier interest would earn more interest in the future alongside the loan principal.
Note that in this case the loan continues to accumulate interest because there no repayments, in other words, the loan balance after 8 years, which comprises of the principal and interest for 8 years can be computed using the future value formula of a single cash flow(the single cash flow is the principal) as shown thus:
FV=PV*(1+r/n)^(n*t)
FV=loan balance after 8 years=unknown
PV=loan amount=$5,000
r=annual interest=14%
n=number of times in a year that interest is compounded=2(twice a year)
t=loan period=8 years
FV=$5000*(1+14%/2)^(2*8)
FV=$5000*(1.07)^16
FV=$5000*2.95216374856541
FV=loan balance after 8 years=$14,760.82
Find out more about semiannual compounding on:brainly.com/question/7219541.
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Answer:
Last option is the correct choice.
Step-by-step explanation:
Best Regards!
Answer:
4/5
Step-by-step explanation:
Okay, I'm pretty sure about this one! I might be wrong but:
If the number is prime and LESS than 13 (so it can't be 13 either), it's either 2, 3, 5, 7, or 11. Those are 5 numbers in all, and 4 of those are odd. So the fraction would be 4/5!
I might have done this wrong, but I hope it helps!! Have a nice day c:
Answer:
70
50
50
50
The easiest way to do it is to add the first digits then add the zero.
Hope that helps and have a great day!
