Question

I need help with this INTEREST question

Answer 1

Here's the annuity formula: A=R*( (1+i)^n - 1 ) / (i)

Answer 2

@jhonyy9 @jim_thompson5910 @karatechopper @Mertsj @TuringTest @UnkleRhaukus

Answer 3

im confused about what im supposed to do

Answer 4

not everyone have ms office

Answer 5

@saifoo.khan @luis

Answer 6

isn't this just a multiplication problem?

Answer 7

\[644.30\times 12\times 25\] is the total you pay

Answer 8

i dont know ive been trying to figure it out.
i did try multiplying the payments by the years but that wasnt right.

Answer 9

you pay monthly

Answer 10

ok that's right. i was multiplying bu just the years instead of years times frequency of payments

Answer 11

ok good

Answer 12

why isnt the 2nd blank 155811.6?

Answer 13

dunno i didn't compute

Answer 14

nevermind!

Answer 15

\[644.30\times 12\times 25-865.62\times 12\times 25\]

Answer 16

no that is wrong

Answer 17

it wanted me to get that answer and then subtract it from the previous to get the difference

Answer 18

\[644.30\times 12\times 25-865.62\times 12\times 15\]

Answer 19

yup

Answer 20

can you help with this one too please?

Answer 21

i would if i could, but i have absolutely no idea

Answer 22

there is some formula for this that you derive by summing a geometric series, but i don't know it.
maybe it is in your book?

Answer 23

dont have the book. lol
i have the annuity formula along with the compounding interest and simple interest formulas

Answer 24

i guess this requires the annuity formula, because you are investing every month (or year)

Answer 25

yeah thats what i used... i dont really understand the 2nd half of the question though....

Answer 26

the invest up to 2,900 part

Answer 27

use the formula for yearly at 2,900 per year

Answer 28

i don't know it, so i can't do it

Answer 29

or maybe i use the compound formula: A=P(1+ r/n)^nt