Martha took out an 8-year loan of 35,790 to purchase a sports utility vehicle at an interest rate of 6.2% compounded monthly. How much will she have to pay in 8 years?

الحلّ

Martha took out an 8-year loan of 35, 790 to purchase a sports utility vehicle at an interest rate of 6.2% compounded monthly. How much will she have to pay in 8 years?

الحلّ

Amount : 58697.17

خطوات الحلّ

Translate the problem into an equation:

A = 35790 (1 + \frac{0.062}{12})^{12 \cdot 8}

35790 (1 + \frac{0.062}{12})^{12 \cdot 8} = 58697.17431 \dots

Round to the nearest hundredth:

58697.17

Amount : 58697.17

أمثلة شائعة

one less than the product of 10 and a number The difference of two integers is 9. Five times the smaller is 7 more than three times the larger. Find the numbers a woman can bicycle 84 miles in the same time as it takes her to walk 12 miles. She can ride 9 mph faster than she can walk. How fast can she walk?Twice the sum of number x and five Nate deposited 1,000 in an account earning 5% interest compounded annually.To the nearest cent, how much will he have in 4 years?