## teller one year ago Mind telling me If I got this right? An amount of $49,000 is borrowed for 13years at 7.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?Use the calculator provided and round your answer to the nearest dollar. f=49000(1+0.075)^13 =1254602.40378726 or f=49000(1-0.075)^13= 177843.74932331 • This Question is Closed 1. SolomonZelman $$\LARGE\color{black}{ \displaystyle \color{blue}{\rm A}=\color{royalblue}{\rm P}\left(1+\frac{ \color{red}{\rm r}}{\color{green}{\rm n}} \right)^{\huge \color{green}{\rm n} \times\color{magenta}{\rm t}} }$$ $$\Large \color{black}{ \displaystyle \color{blue}{\rm A}}$$ - is the final amount after the investment. $$\Large \color{black}{ \displaystyle \color{royalblue}{\rm P} }$$ - is the investment from which you started. $$\Large \color{black}{ \displaystyle \color{red}{\rm r} }$$ - is the percent rate (converted to decimal) $$\Large \color{black}{ \displaystyle \color{green}{\rm n} }$$ - the number of times that interest is compounded each year. $$\Large \color{black}{ \displaystyle \color{magenta}{\rm t} }$$ - the number of years for which you invest. 2. SolomonZelman Do you aslo see stuff crossed out? 3. teller I already did that... 4. SolomonZelman tell me, do you see normal latex in olors, or crossed out codes? 5. SolomonZelman colors* 6. teller i just see normal colors. 7. SolomonZelman oh, cool, so use that formula. 8. teller I did use that formula just in a different format the one we were told to use.. 9. teller f=p(1+r)^1 or f=p(1-r)^t 10. SolomonZelman An amount of$49,000 is borrowed for 13years at 7.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?Use the calculator provided and round your answer to the nearest dollar. t=13 r=0.075 n=1 P=49000 "A" is what you need to find.

11. SolomonZelman

Inside should be a +

12. teller

yea and i already found them but i need to know which one is right.

13. SolomonZelman

I have a wierd glitch, don't know why. but as long as you can see everything fine, it is not that bad

14. SolomonZelman

P(1+r)^(t)

15. SolomonZelman

that one

16. teller

Thank you so how do i round it ?

17. SolomonZelman

did you find the value?

18. teller

1254602.40378726 is what i got i just need to know how to round it now.

19. phi

when you owe interest, it is added to the total cost. the final amount will be more than what you borrowed. that is how to remember (1+r) (and not (1-r) )

20. SolomonZelman
21. SolomonZelman

well, the amount you will have to return is 125460.24

22. teller

It has to be rounded.

23. SolomonZelman

well rounded to nearest cent.

24. teller

it said dollar...

25. teller

that's what i need help with.

26. SolomonZelman

Well: 31, 32, 33, 34 would round up to 30 35, 36, 37, 38, 39 would round up to 40

27. SolomonZelman

So from 5 to 9, rounds up. And from 1 to 4, rounds down

28. teller

1254602.3?

29. SolomonZelman

you keep missplacing the point

30. SolomonZelman

decimal is after the 0

31. SolomonZelman

And you have 125460.$$\color{red}{2}$$4 and 60.$$\color{red}{2}$$ would round to 61.0 or 60.0 ?

32. teller

33. SolomonZelman

well, you want to round to nearest dollar, so then not.

34. teller

dude what the hell?You keep telling me 125460.24

35. teller

all your doing is confusing me even more.

36. SolomonZelman

125460.24 is the answer with cents.

37. SolomonZelman

They ask you to round that up to dollar

38. teller

HOW !?!?

39. teller

i've been asking you for the last 5 minutes how?

40. teller

41. SolomonZelman

60.2 where would the 2 round it to? UP (and you have 61.0) or DOWN (and you have 60.0). ----------------------------------- Recall that: 31, 32, 33, 34 would round up to 30 35, 36, 37, 38, 39 would round up to 40

42. SolomonZelman

"Recall that" and below is an example

43. teller

125461.24?

44. SolomonZelman

125460.24 ---> 125460.00

45. teller