Andy borrows $50000 from a finance company at an interest rate of 24 %
p.a compounded monthly
a. How much will he owe the finance company 3 years later ?
b. Find the total interest
(correct to the nearest dollar)
Compounded interest
2008-08-20 6:45 pm
回答 (2)
2008-08-20 7:02 pm
✔ 最佳答案
a. Principal P = $50000
a. Interest rate R% = 24%/12 = 2%
a. No. of periods n = 3 x 12 = 36
a. Amount that Andy will owe the financial company:
a. A = P (1+R%)n
a. A = $50000 x (1+2%)36
a. A = $50000 x (1.02)36
a. A = $101994.37
b. Total interest = $101994.37 - $50000
b. Total interest = $51994.37
=
2008-08-20 7:06 pm
.........=.=
收錄日期: 2021-04-23 23:05:19
原文連結 [永久失效]:
https://hk.answers.yahoo.com/question/index?qid=20080820000051KK00736