Al needs to borrow $15,000 to buy a car. he can borrow the money at 6.7% simple interest for 5 years or he can borrow at 6.25% interest compounded continuously for 5 years. how much total interest would al pay if he chooses compounded continuously interest?

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Ответ:

migos0917

07.12.2020

Mathematics

b) $\dfrac{38}{15}$

Step-by-step explanation:

The given expression : $\dfrac{1}{5}+2\dfrac{1}{3}$

First we convert the mixed fraction into the improper fraction :

$2\dfrac{1}{3}=\dfrac{3\times2+1}{3}=\dfrac{7}{3}$

Now, the expression becomes :

$\dfrac{1}{5}+\dfrac{7}{3}$

Now, we find a common denominator by finding the LCM of both denominators.

LCM (5,3)= $5\times3=15$

Now, expression becomes :

$\dfrac{1}{5}\times\dfrac{3}{3}+\dfrac{7}{3}\times\dfrac{5}{5}\\\\\dfrac{3}{15}+\dfrac{35}{15}=\dfrac{3+35}{15}=\dfrac{38}{15}$

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