QUESTION
Learning Page
An amount of $49,000 is borrowed for 11 years at 6.5% Interest, compounded annually. If the loan is paid in full at the end of that period, how much must be
paid back?
plz help

$97,958.42

Step-by-step explanation:

To solve this problem we can use the compound interest formula which is shown below:

P = initial balance

r = interest rate

t = time

First change 6.5% to its decimal form:

6.5% -> -> 0.065

Next plug in the values:

They have to pay back $97,958.42

93.8

step-by-step explanation:

lets say, first number = x

second number = 3x+7

total = 49

(x)+(3x+7)= 49

4x+7 = 49

4x = 42

x = 42/4

x= 10.5

x= 10.5

3x+7 = 3(10.5)+7 = 93.8

hope this