Man borrowed $30,000 at a simple interest rate of 12% per year to woman, however Man can only paid half of it in 7 months. One day Man borrowed another $30,000 to woman at 7% interest compounded monthly. Combining the two interests, what is the future value in 1 year and 5 months. How much the woman gaine

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 64SE: You inherit one hundred thousand dollars. You invest it all in three accounts for one year. The...
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Man borrowed $30,000 at a simple interest rate of 12% per year to woman, however Man can
only paid half of it in 7 months. One day Man borrowed another $30,000 to woman at 7%
interest compounded monthly. Combining the two interests, what is the future value in 1 year
and 5 months. How much the woman gaine
WSOLUTION
Transcribed Image Text:Man borrowed $30,000 at a simple interest rate of 12% per year to woman, however Man can only paid half of it in 7 months. One day Man borrowed another $30,000 to woman at 7% interest compounded monthly. Combining the two interests, what is the future value in 1 year and 5 months. How much the woman gaine WSOLUTION
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