Manuel borrowed $1,500 from his bank and signed a contract to make monthly payments for two years at 4%
interest compounded annually. How much total interest
will Manuel pay on this loan?

The total interest to pay back on the loan is $122.40

Step-by-step explanation:

Here. we want to get the amount of interest on the loan

We are going to use the compound interest formula here

A = P(1 + r/n)^nt

where A is the amount to be paid back

P is the amount borrowed called the principal which is $1,500

r is the interest rate which is 4% annually

This is same as 4/100 = 0.04

n is the number of times the interest will be compounded per year ; annually means yearly and so for this case, n = 1

t is the number of years = 2

So we have;

A = 1500(1 + 0.04/1)^(2)(1)

A = 1500(1.04)^(2)

A =$ 1,622.40

So the amount of interest is the difference between the amount borrowed and the value to pay back

That will be;

$1,622.40 - $1,500

= $122.40

answer: a video game has three difficulty levels: easy, medium, and expert. the game's scoring works in such a way that a player has to score a fixed number of points to advance to the next level, and then the scoring starts over. the total score needed to clear all three difficulty levels is 7,500. two times the number of points needed to clear the easy level is 500 more than the number of points needed to clear the medium level. twice the number of points needed to clear the medium difficulty level is 1,500 more than the number of points needed to clear the expert level. if x, y, and z represent the easy, medium, and expert levels, respectively, and a is the coefficient matrix of the system of equations modeling this situation, identify the inverse matrix, a-1, and the solution matrix, x, of the system of equations.

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rauschg

rauschg · hand

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step-by-step explanation:

the answer is:

the answer is:

to solve the problem, we need to remember the quotient of power property, it's defined by the following relation:

if we have a quotienf of powers that have the same base, we need to keep the same base and subtract the exponent of the denominator power to the exponent of the numerator power.

so, we are given the expression:

then, calculating we have:

hence, the answer is:

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