Mathematics, 25.02.2020 06:55, ricksterv5000
Alan writes the equation A=500(1.25)t to figure out how much it will cost him for a one-year loan of $500 with an interest rate of 25% compounded only once. He wants to determine the annual percentage rate (APR) for a loan that would cost the same amount overall, if it is compounded monthly, instead of only once.
Which equation should he use, and what is the APR?
A≈500(1.25)^12t APR≈1.88%
A≈500(1.0188)^12t APR≈22.56%
A≈500(1.0188)^12t APR≈1.88%
A≈500(1.2512)^112t APR≈14.55%
Answers: 3
Other questions on the subject: Mathematics
Mathematics, 21.06.2019 18:00, lollipopboo
1. what expression would be the same as 6x+x+0 2. find the prime factorization of 60 3. write the expression for 6 + x in words.
Answers: 3
Mathematics, 21.06.2019 21:00, cwebb4383
The sum of the first eight terms of an arithmetic progression is 9m + 14. the fifth term of the06 progression is 2m - 6, where m is a constant. given that the first term of the progression is 26,find the value of the common difference, d and thevalue of m.
Answers: 1
Mathematics, 22.06.2019 00:10, angelteddy033
Use your knowledge of the binary number system to write each binary number as a decimal number. a) 1001 base 2= base 10 b) 1101 base 2 = base 10
Answers: 1
Do you know the correct answer?
Alan writes the equation A=500(1.25)t to figure out how much it will cost him for a one-year loan of...
Questions in other subjects:
Mathematics, 27.01.2021 01:00
Mathematics, 27.01.2021 01:00
