I will do #2, the hardest.
Amount of loan in 4 years
= 50000(1 + .11/12)^48
= ...
to find the interest charged subtract 50000 from the above result (I don't have a calculator handy)
How about letting me know what you have done so far for the rest.
The purpose of this site is not to do the assignments for you.
Need help with my practice review. Thanks
1.If inflation is 6% a year compounded annually, what will it cost in 21 years to buy a house currently valued at $230,000? Round to the nearest cent.
2.A small company borrows $50,000 at 11% compounded monthly. The loan is due in 4 years. How much interest will the company pay? Round to the nearest cent.
3.By switching service providers, a family's telephone bill decreased from about $50 a month to about $47. What was the percent of decrease?
4.A child's dose of medicine is 1/6 of a pre-measured dose cup. If the bottle of medicine is the size of 9 dose cups, how many children's doses are there in the bottle?
5.Find the best buy.
Brand X: 16 oz for $6.08
Brand Y: 12 oz for $4.32
A)Brand X
B)Equal value
C)Not enough information
D)Brand Y
3 answers
No, I know I totally understand the reason that I come to this website is to get tutored only. I will post I have done for the rest so if I did an error some one can correct me.
I still not get it what do you mean by ( 1 + . 11/12)^48 where did you get .11/12 and ^48 I'm so lost. Aslo me and my husband tried working out the first problem and it's so difficult to solve we tried it so many ways and we just can't get the correct anwer. Any tips please...
1 answer