Monday, February 17, 2020

Part 1: Business and Economics Applications

In this section in Intermediate Algebra, you will learn about simple interest, simple interest rate over time, annual percentage rate (APR), demand, and the price, cost, revenue, and profit functions.

You can access the supplement here.

Here is a practice problem.  I'll provide a solution to it later.

Suppose you obtain a $5,000 T-note with a 7% annual rate, paid monthly, with maturity in 20 years.  How much interest will you earn?

Answer:


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