Mathematics, 12.11.2019 03:31 carterh166
Principal==12,000 interest is 5.6%..for 5 years. how much interest will i pay.
Answer from: live4dramaoy0yf9
Step-by-step explanation:
IF Simple interest; Simple Interest formula would be
S.I = Principal *rate * time
Principal = 12,000
rate = 5.6% or 0.056 as a decimal
time = 5 years
therefore S.I = 12,000 * 0.056 * 5
S.I = 3,360
Therefore, based on simple interest, you will pay $3,360 in interest.
IF Compound interest, the formula would be;
Compound interest = [ Principal *(1+rate )^t ] - Principal
= [ 12,000*(1+0.056)^5 ] -12,000
= [12,000*1.313165883] - 12,000
=15,757.9906 -12,000
= 3,757.9906
Therefore, based on compounding, you will pay $3,757.9906 in interest.
Answer from: Quest
The answer is -pie over 2
Answer from: Quest
.19875994384
step-by-step explanation:
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