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Popolare Word Problems >

Martha took out an 8-year loan of 35,790 to purchase a sports utility vehicle at an interest rate of 6.2% compounded monthly. How much will she have to pay in 8 years?

Soluzione

M a r t ha t oo k o u t an 8 - ye a r l o an o f 35, 790 t o p u rc ha se a s p or t s u t i l i t y v e hi c l e a t an in t eres t r a t e o f 6.2% co m p o u n d e d m o n t h l y . Ho w m u c h w i ll s h e ha v e t o p a y in 8 ye a rs ?

Soluzione

Amount : 58697.17

Fasi della soluzione

Translate the problem into an equation:

A = 35790 (1 + \frac{0.062}{12})^{12 \cdot 8}

35790 (1 + \frac{0.062}{12})^{12 \cdot 8} = 58697.17431 \dots

Arrotondare all' hundredth più vicino:

58697.17

Amount : 58697.17

Esempi popolari

9 is 15% of what number? Use the general equation.one less than the product of 10 and a number The differenza of two integers is 9. Five times the smaller is 7 more than three times the larger. Find the numbers a woman can bicycle 84 miles in the same time as it takes her to walk 12 miles. She can ride 9 mph faster than she can walk. How fast can she walk?Twice the sum of number x and five