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anyanavicka [17]
2 years ago
14

A college student takes out a $ 7,500 loan from a bank. What will the balance of the loan be after one year (assuming the studen

t has not made any payments yet): a. if the bank charges 3.8% interest each year? b. if the bank charges 5.3% interest each year?
Mathematics
1 answer:
34kurt2 years ago
4 0

Answer:

Substitute P=7500, r=0.053 and t=1 in equation (1). Therefore, the balance of the loan be after one year is $7897.5

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Answer:x=4

Step-by-step explanation:

Step 1: Simplify both sides of the equation.

4−3x=8−4x

4+−3x=8+−4x

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Step 2: Add 4x to both sides.

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General Formulas and Concepts:

<u>Algebra I</u>

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Step-by-step explanation:

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