Answer:
$50,281.04
Step-by-step explanation:
5 years is equivalent to (5 × 12) = 60 months
Now, the first payment $670 is compounded for 60 months at the rate of % monthly interest.
So, it will become .
Similarly the second payment of $670 will become
Therefore, in this way after 60 months i.e. 5 years the total sum will be
=
=
=
= $50,281.04 (Answer)
{Since, the sum of the G.P. series }
Payment of $ 670 with interest every month 8%
Then the payment is made for 5 years
If this year is the fifth year, the total payment is
($ 670 + 8%) x 60 months (1 Year 12 Months, 12 Months multiplied by 5)
($ 670 + $ 53.6 (monthly interest)) x 60
$ 723.6 x 60 = $ 43,416
So, the current value is $ 43,416
Flat flowers
To make it easier for you to illustrate this flat interest calculation, the following is an example of the case: Mr. A applied for an unsecured loan of 240 million dollars with a repayment period of 12 months and a loan interest of 10% annually. This is an installment that must be paid by Mr. A every month.
Amount of loan: 240 million
Interest per year: 10%
Duration: 12 months
Principal installments:
$ 240 million: 12 months = $ 20 million / month
Flower:
($ 240 million X 10%): 12 months = $ 2 million
Installments every month:
$ 20 million + $ 2 million = $ 22 million
Effective interest
Thus is the illustration: Mr. B applied for a loan of $ 240 million. How many installments must be paid each month:
To calculate the interest the formula is: PL x i x (30/360)
PL: principal loan balance from the previous month
i: annual interest rates
30: number of days in a month
360: number of days in a year
Principal loan: $ 240 million
Interest: 10% per year
Credit period: 24 months
Month 1 installments:
= $ 240 million X 10% X (30 days / 360 days)
= $ 2 million
Principal installments plus interest in month 1 = $ 10 million + $ 2 million = $ 12 million.
Month installments 2:
= $ 230 million X 10% X (30 days / 360 days)
= $ 1,191,666.67
Learn More
Loan Interest brainly.com/question/13918421
The Calculated brainly.com/question/13903315
Details
Grade: Middle School
Subject: Mathematics/Business
Keyword: loan, interest, payment
Jessica's result means that any value of x (or any variable she used) would not be a solution to the equation. When something like 0 = 2 comes up, they answer is no solution.
For Your Information:
If you get 2=2 or 0=0 or anything like that, the solutions are all real numbers. Any value of x (or any variable used) will be a solution to the equation.
Please comment to let me know you understand. I hope this was helpful!
the sphere would fall over or be unbalanced on the cylinder, it doesn't have a flat surface where it can be balanced.
(unless you use glue or stick the sphere onto it :P)