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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

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  1. SolomonZelman
    • one year ago
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    \(\LARGE\color{black}{ \displaystyle \color{blue}{\rm A}=\color{royalblue}{\rm P}\left(1+\frac{ \color{red}{\rm r}}{\color{green}{\rm n}} \right)^{\huge \color{green}{\rm n} \times\color{magenta}{\rm t}} }\) \(\Large \color{black}{ \displaystyle \color{blue}{\rm A}}\) - 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
    • one year ago
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    Do you aslo see stuff crossed out?

  3. teller
    • one year ago
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    I already did that...

  4. SolomonZelman
    • one year ago
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    tell me, do you see normal latex in olors, or crossed out codes?

  5. SolomonZelman
    • one year ago
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    colors*

  6. teller
    • one year ago
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    i just see normal colors.

  7. SolomonZelman
    • one year ago
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    oh, cool, so use that formula.

  8. teller
    • one year ago
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    I did use that formula just in a different format the one we were told to use..

  9. teller
    • one year ago
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    f=p(1+r)^1 or f=p(1-r)^t

  10. SolomonZelman
    • one year ago
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    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
    • one year ago
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    Inside should be a +

  12. teller
    • one year ago
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    yea and i already found them but i need to know which one is right.

  13. SolomonZelman
    • one year ago
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    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
    • one year ago
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    P(1+r)^(t)

  15. SolomonZelman
    • one year ago
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    that one

  16. teller
    • one year ago
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    Thank you so how do i round it ?

  17. SolomonZelman
    • one year ago
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    did you find the value?

  18. teller
    • one year ago
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    1254602.40378726 is what i got i just need to know how to round it now.

  19. phi
    • one year ago
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    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
    • one year ago
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    http://www.wolframalpha.com/input/?i=49000%281%2B0.075%29%5E13

  21. SolomonZelman
    • one year ago
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    well, the amount you will have to return is 125460.24

  22. teller
    • one year ago
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    It has to be rounded.

  23. SolomonZelman
    • one year ago
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    well rounded to nearest cent.

  24. teller
    • one year ago
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    it said dollar...

  25. teller
    • one year ago
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    that's what i need help with.

  26. SolomonZelman
    • one year ago
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    Well: 31, 32, 33, 34 would round up to 30 35, 36, 37, 38, 39 would round up to 40

  27. SolomonZelman
    • one year ago
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    So from 5 to 9, rounds up. And from 1 to 4, rounds down

  28. teller
    • one year ago
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    1254602.3?

  29. SolomonZelman
    • one year ago
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    you keep missplacing the point

  30. SolomonZelman
    • one year ago
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    decimal is after the 0

  31. SolomonZelman
    • one year ago
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    And you have 125460.\(\color{red}{2}\)4 and 60.\(\color{red}{2}\) would round to 61.0 or 60.0 ?

  32. teller
    • one year ago
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    so the answer is 125460.24?

  33. SolomonZelman
    • one year ago
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    well, you want to round to nearest dollar, so then not.

  34. teller
    • one year ago
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    dude what the hell?You keep telling me 125460.24

  35. teller
    • one year ago
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    all your doing is confusing me even more.

  36. SolomonZelman
    • one year ago
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    125460.24 is the answer with cents.

  37. SolomonZelman
    • one year ago
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    They ask you to round that up to dollar

  38. teller
    • one year ago
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    HOW !?!?

  39. teller
    • one year ago
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    i've been asking you for the last 5 minutes how?

  40. teller
    • one year ago
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    not asking for cents it's asking for dollars.

  41. SolomonZelman
    • one year ago
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    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
    • one year ago
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    "Recall that" and below is an example

  43. teller
    • one year ago
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    125461.24?

  44. SolomonZelman
    • one year ago
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    125460.24 ---> 125460.00

  45. teller
    • one year ago
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    so the answer is 125460.00?

  46. SolomonZelman
    • one year ago
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    yes

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