Enny borrowed $500 for five years at 4 percent interest, compounded annually. what is the total amount she will have paid when she pays off the loan? total amount = p (1 + i)t

The answer is: $608.33.

The given information is:

The total amount is given by the following formula:

Where,

P is the starting amount

i, is the interest rate in percentage.

t, is the time.

We must remember that we cannot work with percentages,  so we need to convert the given percentage into a real number by dividing it into 100

So,

Now, substituting the given information into the formula, we have:

So, the total amount after 5 years when she pays off the loan is $608.33.

Have a nice day!

A = $608.33

Step-by-step explanation:

Compound interest can be calculated using the formula

A = P (1 + r/n)

where initial principal amount (P)

annual interest rate (r as decimal)

time factor (t)

the number of compound periods (n)

the future value of the investment/loan, including interest(A)

Plug values in the equation

A = 500(1+0.04/1)

A = 608.33

correct answers below:

step-by-step explanation:

we are given a graph for system of inequalities.

in order to write the system of inequalities for the given graph, we need to find the inequality for each of the line separately.

let us find the slope of dotted line first.

taking two coordinates on the graph.

let us say (0,0) and (3,1).

let us find the slope of the line now.

slope of the dotted line would be =.

y-intercept of dotted line is y=0 only.

plugging slope m= and b=0 in slope-intercept form y=mx+b, we get

.

the line is shaded up of that dotted line.

therefore, for shading up we would take greater than inequality symbol > .

and because it's a dotted line we would take only > symbol in place of = sign in above equation of line.

therefore, inequality for dotted line would be

let us take two points (3,1) and (0,4) on the solid line.

slope of the solid line would be =.

for the solid line we have y-intercept b= 4.

plugging slope m= -1 and b=4 in slope-intercept form y=mx+b, we get

y = -1x + 4.

the line is shaded down of that solid line.

therefore, for shading down we would take less than inequality symbol < .

and because it's a solid line we would take ≤ symbol in place of = sign in above equation of line.

therefore, inequality for solid line would be