Question

Mind telling me If I got this right?

An amount of $49,000 is borrowed for 13years at 7.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?Use the calculator provided and round your answer to the nearest dollar.

f=49000(1+0.075)^13 =1254602.40378726
or
f=49000(1-0.075)^13= 177843.74932331

Answer 1

\(\LARGE\color{black}{ \displaystyle \color{blue}{\rm A}=\color{royalblue}{\rm P}\left(1+\frac{ \color{red}{\rm r}}{\color{green}{\rm n}} \right)^{\huge \color{green}{\rm n} \times\color{magenta}{\rm t}} }\)


\(\Large \color{black}{ \displaystyle \color{blue}{\rm A}}\) - is the final amount after the investment.
\(\Large \color{black}{ \displaystyle \color{royalblue}{\rm P} }\) - is the investment from which you started.
\(\Large \color{black}{ \displaystyle \color{red}{\rm r} }\) - is the percent rate (converted to decimal)
\(\Large \color{black}{ \displaystyle \color{green}{\rm n} }\) - the number of times that interest is compounded each year.
\(\Large \color{black}{ \displaystyle \color{magenta}{\rm t} }\) - the number of years for which you invest.

Answer 2

Do you aslo see stuff crossed out?

Answer 3

I already did that...

Answer 4

tell me, do you see normal latex in olors, or crossed out codes?

Answer 5

colors*

Answer 6

i just see normal colors.

Answer 7

oh, cool, so use that formula.

Answer 8

I did use that formula just in a different format the one we were told to use..

Answer 9

f=p(1+r)^1 or f=p(1-r)^t

Answer 10

An amount of $49,000 is borrowed for 13years at 7.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?Use the calculator provided and round your answer to the nearest dollar.

t=13
r=0.075
n=1
P=49000

"A" is what you need to find.

Answer 11

Inside should be a +

Answer 12

yea and i already found them but i need to know which one is right.

Answer 13

I have a wierd glitch, don't know why.
but as long as you can see everything fine, it is not that bad

Answer 14

P(1+r)^(t)

Answer 15

that one

Answer 16

Thank you so how do i round it ?

Answer 17

did you find the value?

Answer 18

1254602.40378726 is what i got i just need to know how to round it now.

Answer 19

when you owe interest, it is added to the total cost. the final amount will be more than what you borrowed. that is how to remember (1+r) (and not (1-r) )

Answer 20

http://www.wolframalpha.com/input/?i=49000%281%2B0.075%29%5E13

Answer 21

well, the amount you will have to return is 125460.24

Answer 22

It has to be rounded.

Answer 23

well rounded to nearest cent.

Answer 24

it said dollar...

Answer 25

that's what i need help with.

Answer 26

Well:

31, 32, 33, 34 would round up to 30

35, 36, 37, 38, 39 would round up to 40

Answer 27

So from 5 to 9, rounds up.
And from 1 to 4, rounds down

Answer 28

1254602.3?

Answer 29

you keep missplacing the point

Answer 30

decimal is after the 0

Answer 31

And you have
125460.\(\color{red}{2}\)4

and 60.\(\color{red}{2}\) would round to 61.0 or 60.0 ?

Answer 32

so the answer is 125460.24?

Answer 33

well, you want to round to nearest dollar, so then not.

Answer 34

dude what the hell?You keep telling me 125460.24

Answer 35

all your doing is confusing me even more.

Answer 36

125460.24

is the answer with cents.

Answer 37

They ask you to round that up to dollar

Answer 38

HOW !?!?

Answer 39

i've been asking you for the last 5 minutes how?

Answer 40

not asking for cents it's asking for dollars.

Answer 41

60.2

where would the 2 round it to? UP (and you have 61.0) or DOWN (and you have 60.0).
-----------------------------------
Recall that:

31, 32, 33, 34 would round up to 30

35, 36, 37, 38, 39 would round up to 40

Answer 42

"Recall that" and below is an example

Answer 43

125461.24?

Answer 44

125460.24 ---> 125460.00

Answer 45

so the answer is 125460.00?

Answer 46

yes