teller
  • teller
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
Algebra
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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SolomonZelman
  • 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.
SolomonZelman
  • SolomonZelman
Do you aslo see stuff crossed out?
teller
  • teller
I already did that...

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SolomonZelman
  • SolomonZelman
tell me, do you see normal latex in olors, or crossed out codes?
SolomonZelman
  • SolomonZelman
colors*
teller
  • teller
i just see normal colors.
SolomonZelman
  • SolomonZelman
oh, cool, so use that formula.
teller
  • teller
I did use that formula just in a different format the one we were told to use..
teller
  • teller
f=p(1+r)^1 or f=p(1-r)^t
SolomonZelman
  • 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.
SolomonZelman
  • SolomonZelman
Inside should be a +
teller
  • teller
yea and i already found them but i need to know which one is right.
SolomonZelman
  • SolomonZelman
I have a wierd glitch, don't know why. but as long as you can see everything fine, it is not that bad
SolomonZelman
  • SolomonZelman
P(1+r)^(t)
SolomonZelman
  • SolomonZelman
that one
teller
  • teller
Thank you so how do i round it ?
SolomonZelman
  • SolomonZelman
did you find the value?
teller
  • teller
1254602.40378726 is what i got i just need to know how to round it now.
phi
  • 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) )
SolomonZelman
  • SolomonZelman
http://www.wolframalpha.com/input/?i=49000%281%2B0.075%29%5E13
SolomonZelman
  • SolomonZelman
well, the amount you will have to return is 125460.24
teller
  • teller
It has to be rounded.
SolomonZelman
  • SolomonZelman
well rounded to nearest cent.
teller
  • teller
it said dollar...
teller
  • teller
that's what i need help with.
SolomonZelman
  • SolomonZelman
Well: 31, 32, 33, 34 would round up to 30 35, 36, 37, 38, 39 would round up to 40
SolomonZelman
  • SolomonZelman
So from 5 to 9, rounds up. And from 1 to 4, rounds down
teller
  • teller
1254602.3?
SolomonZelman
  • SolomonZelman
you keep missplacing the point
SolomonZelman
  • SolomonZelman
decimal is after the 0
SolomonZelman
  • SolomonZelman
And you have 125460.\(\color{red}{2}\)4 and 60.\(\color{red}{2}\) would round to 61.0 or 60.0 ?
teller
  • teller
so the answer is 125460.24?
SolomonZelman
  • SolomonZelman
well, you want to round to nearest dollar, so then not.
teller
  • teller
dude what the hell?You keep telling me 125460.24
teller
  • teller
all your doing is confusing me even more.
SolomonZelman
  • SolomonZelman
125460.24 is the answer with cents.
SolomonZelman
  • SolomonZelman
They ask you to round that up to dollar
teller
  • teller
HOW !?!?
teller
  • teller
i've been asking you for the last 5 minutes how?
teller
  • teller
not asking for cents it's asking for dollars.
SolomonZelman
  • 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
SolomonZelman
  • SolomonZelman
"Recall that" and below is an example
teller
  • teller
125461.24?
SolomonZelman
  • SolomonZelman
125460.24 ---> 125460.00
teller
  • teller
so the answer is 125460.00?
SolomonZelman
  • SolomonZelman
yes

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