Business, 06.02.2021 05:50 izabelllreyes

Calculate the interest and total amount due at the end of the loan for both simple and compound interest. Loan YearsRate(a)$1,00025%(b)$1,50056%(c )$10,0001010%(d)$25,0001515%(e)$47, 7502020%You should have 4 values for your final 1. Simple interest total amount duei. Simple interest total interest 2. Compound interest total amount due 3. Compound interest total interest

Answers: 3

Show answers

Answers

Answer from: russboys3

Solution :

a). Interest for the simple interest $= 1000 \times 5 \times 2$

= $ 100

Amount due for the simple interest = $ 1000 + $ 100

= $ 1100

Amount due for the compound interest $= 1000 \times (1.05)^2$

= $ 1102.50

Interest for the compound interest = $ 1102.50 - $ 1000

= $ 102.50

b). Interest for the simple interest $= 1500 \times 6 \times 5$

= $ 450

Amount due for the simple interest = $ 1500 + $ 450

= $ 1950

Amount due for the compound interest $= 1500 \times (1.06)^5$

= $ 2007.34

Interest for the compound interest = $ 2007.34 - $ 1500

= $ 507.34

c). Interest for the simple interest $= 1000 \times 10 \times 10$

= $ 100000

Amount due for the simple interest = $ 10000 + $ 10000

= $ 20000

Amount due for the compound interest $= 10000 \times (1.10)^{10}$

= $ 25937.42

Interest for the compound interest = $ 25937.42 - $ 10000

= $ 15937.42

d). Interest for the simple interest $= 25000 \times 15 \times 15$

= $ 56,2500

Amount due for the simple interest = $ 25000 + $ 56,250

= $ 81,250

Amount due for the compound interest $= 25000 \times (1.15)^{15}$

= $ 203,426.54

Interest for the compound interest = $ 203,426.54 - $ 25,000

= $ 178,426.54

e). Interest for the simple interest $= 47,750 \times 20 \times 20$

= $ 191,000

Amount due for the simple interest = $ 47,750 + $ 191,000

= $ 238,750

Amount due for the compound interest $= 47,750 \times (1.20)^{20}$

= $ 1,830,620.40

Interest for the compound interest = $ 1,830,620.40 - $ 47,750

= $ 1,782,870.40

Answer from: Quest

she does?

explanation:

Answer from: Quest

Yikes. that sucks dide

Another question on Business

Business, 21.06.2019 16:20

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Answers: 3

Answer

Business, 22.06.2019 02:00

Keshawn used to work for an it company in baltimore, but lost his job when his company decided to use workers in new delhi instead. this is an example of:

Answers: 1

Answer

Business, 22.06.2019 09:30

Which are the best examples of costs that should be considered when creating a project budget?

Answers: 2

Answer

Business, 22.06.2019 12:40

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?

Answers: 3

Answer

You know the right answer?

Calculate the interest and total amount due at the end of the loan for both simple and compound inte...

Questions