A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 4 years ago
The compound interest formula is F = P(1 + i)^n where F is the total amount due, P is the initial cost or amount of money, i is the interest rate, and n is the number of periods interest is computed.
A student purchases a $1300 laptop computer for school. The deal does not require payment until 2 years later. If interest is computed monthly, how much does the student have to pay at the end of 2 years? The monthly interest rate is 1.8 percent.
anonymous
 4 years ago
The compound interest formula is F = P(1 + i)^n where F is the total amount due, P is the initial cost or amount of money, i is the interest rate, and n is the number of periods interest is computed. A student purchases a $1300 laptop computer for school. The deal does not require payment until 2 years later. If interest is computed monthly, how much does the student have to pay at the end of 2 years? The monthly interest rate is 1.8 percent.

This Question is Closed

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0If the cost of the laptop is the same, how much does the student owe if the interest rate is 21.6 percent computed annually?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0It seems like an exercise to plug in values into that given formula.
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.