Miguel66571 Miguel66571
  • 02-04-2018
  • Mathematics
contestada

Suppose you take out a loan for $9,000, at 12% ordinary interest. If the amount of interest is $762.00, what is the time period?

Respuesta :

takahiro
takahiro takahiro
  • 11-04-2018
For the answer to the question above,
Let's figure out the formula first
FV = PV(1+i/n)^(nt)
9762= 9000(1+0.12/12)^(12x)
9762= 9000(1.01)^12x
9762/9000=1.01^12x
1.08467=1.01^12x
ln1.08467/12 x ln1.01=0.681 years (8.17 months) same as my calculator
So,
0.681x360=
245.16 days is
the time period
Answer Link

Otras preguntas

Place the numbers in the correct boxes.
Pleaseeeeee help?????????????????
whoever guesses who she is and is right I'll you a brainly ​
List the following numbers in order from least to greatest.-9, -17, 7, 11, 26​
Dram shop laws are established: A: At the state level through common law, legislation, or both B:by the federal government C: By local jurisdictions where the a
Identify the product of genetic engineering. A. inserting a spider’s silk gene in a goat’s DNA to weave silk threads B. choosing livestock for mating to pass
Please help me I’ll give you 40 points
Can someone walk me though this I don't get it? I will give brainyest! Graph the following systems of linear inequalities. y y ≥−2x+1
3/8x2 as a fraction in simplest form
If the average atomic mass of Rhodium is 102.91 amu, which isotope do you think has the greater percent abundance? Rhodium-103 Rhodium-102