xander received a $22,950 loan from a bank that was charging interest at 4.25% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 4 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 4-year period?
xander received a $22,950 loan from a bank that was charging interest at 4.25% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 4 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 4-year period?
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Alexander received a $22,950 loan from a bank that was charging interest at 4.25% compounded semi-annually.
a. How much does she need to pay at the end of every 6 months to settle the loan in 4 years?
Round to the nearest cent
b. What was the amount of interest charged on the loan over the 4-year period?
Round to the nearest cent
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