IDNLearn.com: Your trusted source for accurate and reliable answers. Ask any question and receive timely, accurate responses from our dedicated community of experts.
Sagot :
This problem has several steps.
First, calculate the interest value for the first year by multiplication of the interest rate and the total amount of the initial loan. So: (1,485)X(0.0775) = $115.0875. This is the total amount of interest for the first year. We add this to the initial loan value to find the total amount for the first year: 115.0875+1,485=$1,600.0875. The next year, she will be charged on this amount, instead of $1,485. So, you repeat the first step with this new value. (1,600.0875)x(0.0775)=$124.0067813. This is the total amount of interest charged the second year. You add this to her total from last year: 124.0067813+1,600.0875 =$ 1,724.094281. This is the total she would have to pay back on her initial loan after to years. (Rounded to whatever decimal place specified. Probably $1,724.09)
Answer:
vfbdchlndn hgd bn
Step-by-step explanation:
Thank you for joining our conversation. Don't hesitate to return anytime to find answers to your questions. Let's continue sharing knowledge and experiences! Your questions find answers at IDNLearn.com. Thanks for visiting, and come back for more accurate and reliable solutions.
