Claire wants to take out a small personal loan to renovate her kitchen. She borrows $3,000. Her loan has an annual compound interest rate of 15%. The loan compounds once each year.
When you calculate Claire's debt, be sure to use the formula for annual compound interest.
[tex]A=P\left(1+\frac{r}{n}\right)^{n t}[/tex]
If Claire does not make any payments, how much will she owe after ten years?
Answer (3)
No because if you divide 1.25 by two to find out what the half is in 2.5, it would be .62… and since she wants to buy 2.5 pounds, you've already figured out the .5, so 1.25x2 + .62, it would be 3.12. Illusion103
No Do a proportion 1.25 over 1 = x over 3 You would get 3.75
Florence cannot buy 2.5 pounds of onions at $1.25 per pound without exceeding her $3 budget, as the total cost would be $3.125. Therefore, she needs to buy a lesser quantity or find a cheaper price. Setting up the inequality showed that the total cost exceeds her budget.
;
