ontlametsemosala ontlametsemosala
  • 16-02-2022
  • Mathematics
contestada

Write down the loan factor that will be used in calculations if magda decides to pay her monthly repayments over a 25 year period at an interest rate of 10.75 percent

Respuesta :

adioabiola
adioabiola adioabiola
  • 21-02-2022

The loan factor that would be used for the calculation is; 12.84

Loan factors in Compound interest

According to the question;

  • We are required to determine the loan factor that would be used for the calculation.

The loan factor to be used to calculate the amount to be paid is given from compound interest formula as;

Loan factor = (1 + 0.1075)²⁵

Hence;

Loan factor = (1.1075)²⁵

Loan factor = 12.84.

Read more on loan factors;

https://brainly.com/question/24576997

Answer Link

Otras preguntas

How do thermostats work?
What form of government did Ancient Greece and ancient Mesopotamia have in common
what is the purpose of the enclosed seeds in fruit found on a flowering plant
Which is not a form of technological advancement
Who became the nominee of the Constitutional Union Party in the presidential election of 1860
Your friend gets to school wearing an outfit straight from the pages of a recent fashion magazine. He says he is dressing like the famous actors in the magazine
What is one of a labor union’s primary goals? A. to make decisions about the workplace B. to gain promotions for workers C. to keep nonunion workers out of jo
Read the poem “The Purple Cow,” by Gelett Burgess. The Purple Cow (Reflections on a Mythic Beast Who's Quite Remarkable, at Least.) I never saw a Purple Cow;
Is anyone good at range?
Click please it's a pic PLEASE help