it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

you take out a loan of 14000 dollars and intend to have it paid off in five years and the interest rate is 12.3 PERCENT per year compounding monthly so find how much money is paid each month

Soluzione

yo u t ak e o u t a l o an o f 14000 d o ll a rs an d in t e n d t o ha v e i t p ai d o ff in f i v e ye a rs an d t h e in t eres t r a t e i s 12.3 PERCENT p er ye a r co m p o u n d in g m o n t h l y so f in d h o w m u c h m o n ey i s p ai d e a c h m o n t h

Soluzione

Amount : 25814.25

Fasi della soluzione

Translate the problem into an equation:

A = 14000 (1 + \frac{0.123}{12})^{12 \cdot 5}

14000 (1 + \frac{0.123}{12})^{12 \cdot 5} = 25814.25421 \dots

Arrotondare all' hundredth più vicino:

25814.25

Amount : 25814.25

Esempi popolari

The product of 7 and a number You deposit 120 in an investment account that earns 6.4% annual interest compounded quarterly.What is the balance of the account after 6 years?Beverly drove from Atlantic City to Newark. She drove for 284 miles at a constant speed of 58 mph How long did it take Beverly to complete the trip?the sum of the squares of 2 consecutive positive numbers is 61. find the numbers Suppose that when your friend was born, your friend's parents deposited 2000 in an account paying 5.7% interest compounded quarterly. What will the account balance be after 17 years?