plz help me!i need the steps!thz!
1)Mr.Lee borrows a loan of $20000 from a bank at an interest rate of 12%p.a.,compounded monthly.
a)Find the loaninterest for 1st month.
b)Mr.Lee repays $x at the end of each month.Express,in term of x,the amount that Mr.Lee still owes the bank after 1 repayment.
c)Prove that if Mr.Lee has not yet fully repaid the loan after3 repayments,he still owes the bank $[20000(1.01)^3-x(1.01)^2-x(1.01)-x].
d)If Mr.Lee repays $2000 at the end of each month.Find the amount that Mr.Lee still owes the bank after 4 repayment.(corr to nearest dollar)
interest 1問!
2008-10-23 8:06 pm
回答 (2)
2008-10-27 8:59 pm
1a) The loan interest for the 1st month :
20000 (1 12%/12) - 20000
= 20000 (1.01) - 20000
= $200
b) The amount he still owns the bank after 1st repayment :
20000 (1 12%/12) - x
= 20000(1.01) -x
= $20200 - x
c) The amount he owe the bank after the 3rd repayment :
{[20000 (1 12%/12) - x] (1 12%/12)-x}(1 12%/12)-x
= $[20000(1.01)^3 - x(1.01)^2 - x(1.01) - x]
d) From the result from c),
{20000 (1.01)^3 - x(1.01)^2 -x(1.01)-x} (1 12%/12)-x ,
the amount that Mr.Lee still owes the bank after 4 repayment :
20000 (1.01)^4 - x(1.01)^3 - x(1.01)^2 - x(1.01) - x
when x = 2000,
The amount that Mr.Lee still owes the bank after 4 repayment :
20000(1.01)^4 - 2000(1.01)^3- 2000(1.01)^2 - 2000(1.01) - 2000
=$12691
20000 (1 12%/12) - 20000
= 20000 (1.01) - 20000
= $200
b) The amount he still owns the bank after 1st repayment :
20000 (1 12%/12) - x
= 20000(1.01) -x
= $20200 - x
c) The amount he owe the bank after the 3rd repayment :
{[20000 (1 12%/12) - x] (1 12%/12)-x}(1 12%/12)-x
= $[20000(1.01)^3 - x(1.01)^2 - x(1.01) - x]
d) From the result from c),
{20000 (1.01)^3 - x(1.01)^2 -x(1.01)-x} (1 12%/12)-x ,
the amount that Mr.Lee still owes the bank after 4 repayment :
20000 (1.01)^4 - x(1.01)^3 - x(1.01)^2 - x(1.01) - x
when x = 2000,
The amount that Mr.Lee still owes the bank after 4 repayment :
20000(1.01)^4 - 2000(1.01)^3- 2000(1.01)^2 - 2000(1.01) - 2000
=$12691
2008-10-23 9:38 pm
(1)(a) The loan interest for the 1st month
20000 (1+12%/12) - 20000 = 20000 (1.01) - 20000
= $200
(b) The amount he own the bank after 1st repayment
= 20000 (1+12%/12) - x = 20000(1.01) -x
= 20200 - x
(c) The amount he owe the bank after the 3rd repayment
={[20000 (1+12%/12) - x] (1+12%/12)-x}(1+12%/12)-x
= 20000(1.01)^3 - x(1.01)^2 - x(1.01) - x
(d) from result of part (c), the remaining amount after 4th repayment
={20000 (1.01)^3 - x(1.01)^2 -x(1.01)-x} (1+12%/12)-x
= 20000 (1.01)^4 - x(1.01)^3 - x(1.01)^2 - x(1.01) - x
when x = 2000,
The remaining amount after 4th repayment
= 20000(1.01)^4 - 2000(1.01)^3- 2000(1.01)^2 - 2000(1.01) - 2000
=$12691
20000 (1+12%/12) - 20000 = 20000 (1.01) - 20000
= $200
(b) The amount he own the bank after 1st repayment
= 20000 (1+12%/12) - x = 20000(1.01) -x
= 20200 - x
(c) The amount he owe the bank after the 3rd repayment
={[20000 (1+12%/12) - x] (1+12%/12)-x}(1+12%/12)-x
= 20000(1.01)^3 - x(1.01)^2 - x(1.01) - x
(d) from result of part (c), the remaining amount after 4th repayment
={20000 (1.01)^3 - x(1.01)^2 -x(1.01)-x} (1+12%/12)-x
= 20000 (1.01)^4 - x(1.01)^3 - x(1.01)^2 - x(1.01) - x
when x = 2000,
The remaining amount after 4th repayment
= 20000(1.01)^4 - 2000(1.01)^3- 2000(1.01)^2 - 2000(1.01) - 2000
=$12691
收錄日期: 2021-04-13 16:11:04
原文連結 [永久失效]:
https://hk.answers.yahoo.com/question/index?qid=20081023000051KK00551