Solved If 1300 Is Borrowed At 7 Percent Interest Find The Chegg If $1300 is borrowed at 7 percent interest, find the amounts due at the end of 4 years if the interest is compounded as follows. (round your answers to the nearest cent.). To calculate the amount due, we use the formula for compound interest: a = p (1 r n)^ (nt) where: a = the amount due at the end of the time period p = the principal amount (initial amount borrowed) r = the annual interest rate (as a decimal) n = the number of times interest is compounded per year t = the number of years in this case, p.
Solved If 1300 Is Borrowed At 7 Interest Find The Amounts Chegg Starting with the given interest rate of 7.3%, you can use an online mortgage calculator or formula to find this value to be $6.98. dividing your maximum monthly payment of $1,300 by $6.98 gives you a loan size of approximately $186,244.78. This calculator computes the simple interest and end balance of a savings or investment account. it also calculates the other parameters of the simple interest formula. Compound interest calculator with step by step explanations. calculate principal, interest rate, time or interest. Consider a $1,300 deposit earning 7 percent interest per year for six years. how can i calculate the future value? total interest earned? interest earned on interest? (final answer in 2 decimal places).
Solved If 1300 Is Borrowed At 7 Interest Find The Amounts Chegg Compound interest calculator with step by step explanations. calculate principal, interest rate, time or interest. Consider a $1,300 deposit earning 7 percent interest per year for six years. how can i calculate the future value? total interest earned? interest earned on interest? (final answer in 2 decimal places). Find out what interest rate, effective rate, apy or apr you're receiving on your credit card, loan, mortgage, savings or investment using this interest rate calculator. Question: if $1300 is borrowed at 7% interest, find the amounts due at the end of 3 years if the interest is compounded as follows. (round your answers to the nearest cent.) annually quarterly monthly weekly daily hourly continuously. To find the amount mr. and mrs. chang should invest now, we can use the formula for present value of a continuous compounding investment: p = a e^ (rt) where p is the present value, a is the future value, e is the base of the natural logarithm, r is the interest rate, and t is the time in years. Simple interest calculator finds the principal amount, interest amount and interest rate using simple interest formula. this calculator can help you deal with all kinds of simple interest problems.
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