Solve the problem.If a principle of P dollars is amortized over a period of t years, and payments are made each 
th of a year, with an annual interest rate of r (as a decimal), the payment p that must be made is given by the formula 
. The total interest I that will be paid during the term of a loan is given by 
Suppose $7100 is amortized over 3 years with an interest rate of 
style="vertical-align: -4.0px;" /> and requires monthly payments. What is the total interest that will be paid during the term of the loan?
A. $1051.82
B. -$5986.35
C. $808,082.45
D. -$13,238.14
Answer: A
You might also like to view...
Factor out the GCF from the polynomial. If the GCF is 1, write prime.16x4 - 48x3
A. 48 B. prime C. 16x D. 16x3(x - 3)
Solve the equation.
= 
A. 
B. {22}
C. {11}
D. 
The graph of a function f is given. Use the graph to answer the question.Find the values of x, if any, at which f has a relative maximum. What are the relative maxima?
A. f has a relative maximum at x = 1; the relative maximum is 2 B. f has a relative maximum at x = 0; the relative maximum is 2 C. f has no relative maximum D. f has a relative maximum at x = -1 and 1; the relative maximum is 0
Solve the problem.An experienced accountant can balance the books twice as fast as a new accountant. Working together it takes the accountants 8 hours. How long would it take the experienced accountant working alone?
A. 20 hr B. 16 hr C. 12 hr D. 4 hr