Mr Chua borrows a sum of money from the bank which charges a compound interest of 4.2% per annum, compounded quarterly. Given that Mr Chua had to pay $96.60 in interest payments at the end of the first year, find their original sum of money borrowed, giving your answer correct to the nearest cent.

Original sum of money = $2246.51

Step-by-step explanation:

Interest = $96.60

Interest is compounded 6 times in a year ; n = 6

time = 1 year ; Rate of interest (r) = 4.2%

SI=p×r×t/100

= 7083.75×4.2×r/100

= 29751.75×t/100

=297.5157

Step-by-step explanation:

step-by-step explanation:

given that there are two triangles j'k'l' and jkl>

the former is got by dilating the second one.

when drawn on a grid, (graph paper) coordinates of vertices of first triangle is

(6,12)j, (9,6)k and (12,9)l

side jk has length = distance between j and k

=

side j'k'=distance between j' and k'

=

ie j'k'l' has sides 1/3 of that of corresponding sides of jkl.

hence scale factor of 1/3 is used to get j'k'l'from jkl