Find solutions to your questions with the help of IDNLearn.com's expert community. Join our community to receive prompt and reliable responses to your questions from experienced professionals.
Sagot :
hello
to solve this question, we can simply use the formula of simple interest here where our principal value would be the maximum amount she can borrow at the moment
[tex]\begin{gathered} s\mathrm{}i=p(1+rt)_{} \\ \end{gathered}[/tex][tex]\begin{gathered} s\mathrm{}i=55000 \\ p=\text{ ?} \\ r=9\text{ \% = 0.09} \\ t=\text{ 4} \end{gathered}[/tex][tex]\begin{gathered} 55000=p(1+0.09\times4)_{} \\ 55000=p(1+0.36) \\ 55000=p\times1.36 \\ \text{divide both sides by the coeffiecient of p} \\ \frac{55000}{1.36}=\frac{1.36p}{1.36} \\ p=40441.17 \end{gathered}[/tex]from the calculations above, the maximum amount Logan can borrow at the moment is $40441.17
We are delighted to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com is your go-to source for dependable answers. Thank you for visiting, and we hope to assist you again.
